CTS Co. (NYSE:CTS) CEO Kieran M. O’sullivan Sells 6,179 Shares of Stock

CTS Co. (NYSE:CTS) CEO Kieran M. O’sullivan sold 6,179 shares of CTS stock in a transaction on Monday, April 29th. The stock was sold at an average price of $47.00, for a total transaction of $290,413.00. Following the sale, the chief executive officer now directly owns 493,319 shares of the company’s stock, valued at $23,185,993. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

CTS Trading Up 3.7 %

Shares of CTS stock opened at $47.42 on Thursday. The company has a current ratio of 3.29, a quick ratio of 2.67 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $45.18 and a 200-day simple moving average of $42.68. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 24.70 and a beta of 0.61. CTS Co. has a 12-month low of $35.50 and a 12-month high of $47.96.

CTS (NYSE:CTS) last released its quarterly earnings data on Tuesday, February 6th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. CTS had a net margin of 11.00% and a return on equity of 13.41%. The company had revenue of $124.69 million during the quarter, compared to the consensus estimate of $124.51 million. During the same quarter in the prior year, the firm posted $0.56 earnings per share. CTS’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, equities analysts forecast that CTS Co. will post 2.3 EPS for the current fiscal year.

CTS Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Thursday, March 28th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.34%. The ex-dividend date was Wednesday, March 27th. CTS’s dividend payout ratio (DPR) is 8.33%.

Institutional Investors Weigh In On CTS

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in shares of CTS by 245.5% in the 4th quarter. Parallel Advisors LLC now owns 577 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 410 shares during the period. Quadrant Capital Group LLC increased its stake in CTS by 25.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock valued at $72,000 after purchasing an additional 336 shares during the period. Perpetual Ltd acquired a new position in CTS in the 1st quarter valued at about $211,000. Janney Montgomery Scott LLC purchased a new stake in CTS during the 1st quarter valued at approximately $216,000. Finally, Handelsbanken Fonder AB purchased a new stake in CTS during the 4th quarter valued at approximately $209,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Analyst Ratings Changes

CTS has been the topic of a number of analyst reports. Sidoti cut CTS from a “buy” rating to a “neutral” rating and set a $46.00 price target on the stock. in a research note on Wednesday, February 7th. TD Cowen raised their target price on CTS from $38.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th.

About CTS

CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides encoders, rotary position sensors, slide potentiometers, industrial and commercial rotary potentiometers. It also provides non-contacting, and contacting pedals; and eBrake pedals.