CTS (NYSE:CTS – Get Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.
Separately, Scotiabank lowered CTS from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th.
Get Our Latest Research Report on CTS
CTS Price Performance
CTS (NYSE:CTS – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. CTS had a return on equity of 12.39% and a net margin of 11.66%. The company had revenue of $132.42 million for the quarter. During the same quarter in the prior year, the firm earned $0.54 EPS. As a group, equities analysts predict that CTS will post 2.15 earnings per share for the current year.
Insider Activity at CTS
In other news, CEO Kieran M. O’sullivan sold 12,794 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $55.50, for a total value of $710,067.00. Following the sale, the chief executive officer now directly owns 400,456 shares of the company’s stock, valued at $22,225,308. The trade was a 3.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 59,956 shares of company stock worth $3,331,185 over the last ninety days. 2.00% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in CTS. Trust Point Inc. lifted its position in CTS by 2.1% in the 3rd quarter. Trust Point Inc. now owns 12,861 shares of the electronics maker’s stock valued at $622,000 after acquiring an additional 270 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of CTS by 5.8% in the second quarter. AQR Capital Management LLC now owns 5,637 shares of the electronics maker’s stock worth $285,000 after purchasing an additional 308 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of CTS by 132.5% during the third quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 334 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of CTS by 3.0% during the second quarter. The Manufacturers Life Insurance Company now owns 15,372 shares of the electronics maker’s stock valued at $778,000 after buying an additional 444 shares during the last quarter. Finally, KBC Group NV increased its holdings in CTS by 58.2% in the 4th quarter. KBC Group NV now owns 1,713 shares of the electronics maker’s stock worth $90,000 after buying an additional 630 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.
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.
Recommended Stories
- Five stocks we like better than CTS
- High Flyers: 3 Natural Gas Stocks for March 2022
- Bloom Energy: Powering the Future With Decentralized Energy
- Trading Stocks: RSI and Why it’s Useful
- Dividend Powerhouses: Blue-Chip Stocks Built for the Long Haul
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- Why Traders Are Buying the Dip on Johnson & Johnson Stock
Receive News & Ratings for CTS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CTS and related companies with MarketBeat.com's FREE daily email newsletter.