CTS (NYSE:CTS) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of CTS (NYSE:CTS) from a hold rating to a buy rating in a research report report published on Thursday morning.

CTS Trading Up 0.3 %

CTS opened at $50.34 on Thursday. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 29.61 and a beta of 0.60. CTS has a 52 week low of $35.50 and a 52 week high of $54.73. The business’s 50 day moving average is $50.69 and its two-hundred day moving average is $46.23. The company has a quick ratio of 2.71, a current ratio of 3.32 and a debt-to-equity ratio of 0.13.

CTS (NYSE:CTS) last released its quarterly earnings results on Wednesday, May 1st. The electronics maker reported $0.47 EPS for the quarter, beating the consensus estimate of $0.41 by $0.06. CTS had a net margin of 10.06% and a return on equity of 12.39%. The firm had revenue of $125.70 million during the quarter, compared to the consensus estimate of $126.75 million. During the same quarter in the prior year, the firm earned $0.61 EPS. CTS’s revenue for the quarter was down 13.9% on a year-over-year basis. On average, research analysts predict that CTS will post 2.25 EPS for the current year.

CTS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Friday, June 28th. CTS’s dividend payout ratio is presently 9.41%.

Insider Buying and Selling at CTS

In related news, CEO Kieran M. O’sullivan sold 2,064 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $47.00, for a total transaction of $97,008.00. Following the completion of the sale, the chief executive officer now directly owns 499,498 shares of the company’s stock, valued at $23,476,406. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Kieran M. O’sullivan sold 2,064 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $47.00, for a total transaction of $97,008.00. Following the completion of the transaction, the chief executive officer now directly owns 499,498 shares of the company’s stock, valued at $23,476,406. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ashish Agrawal sold 800 shares of CTS stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $47.00, for a total value of $37,600.00. Following the completion of the sale, the chief financial officer now directly owns 127,977 shares in the company, valued at approximately $6,014,919. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,855 shares of company stock worth $2,330,290. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CTS

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. 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 purchasing an additional 410 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of CTS during the 1st quarter valued at approximately $46,000. Quadrant Capital Group LLC boosted its stake in shares of CTS by 25.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock worth $72,000 after acquiring an additional 336 shares in the last quarter. Handelsbanken Fonder AB acquired a new stake in shares of CTS in the 4th quarter worth approximately $209,000. Finally, Perpetual Ltd purchased a new position in CTS in the 1st quarter valued at approximately $211,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

CTS Company Profile

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.