Kieran M. O’sullivan Sells 2,064 Shares of CTS Co. (NYSE:CTS) Stock

CTS Co. (NYSE:CTS) CEO Kieran M. O’sullivan sold 2,064 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $47.00, for a total value of $97,008.00. Following the sale, the chief executive officer now owns 499,498 shares of the company’s stock, valued at approximately $23,476,406. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

CTS Trading Down 2.4 %

Shares of NYSE:CTS opened at $44.36 on Wednesday. The business’s 50-day moving average is $45.14 and its 200 day moving average is $42.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.29 and a quick ratio of 2.67. CTS Co. has a 1 year low of $35.50 and a 1 year high of $47.90. The firm has a market capitalization of $1.36 billion, a P/E ratio of 23.10 and a beta of 0.61.

CTS (NYSE:CTS) last posted 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. The firm had revenue of $124.69 million for the quarter, compared to the consensus estimate of $124.51 million. CTS had a net margin of 11.00% and a return on equity of 13.41%. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.56 earnings per share. On average, research analysts predict that CTS Co. will post 2.3 earnings per share for the current fiscal year.

CTS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Thursday, March 28th will be issued a $0.04 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.36%. CTS’s dividend payout ratio is currently 8.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CTS shares. Sidoti cut CTS from a “buy” rating to a “neutral” rating and set a $46.00 price objective for the company. in a research note on Wednesday, February 7th. TD Cowen lifted their price objective on shares of CTS from $38.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th.

Institutional Investors Weigh In On CTS

A number of large investors have recently made changes to their positions in the stock. SummerHaven Investment Management LLC raised its stake in CTS by 1.5% in the 4th quarter. SummerHaven Investment Management LLC now owns 17,022 shares of the electronics maker’s stock worth $745,000 after acquiring an additional 255 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of CTS by 0.6% in the third quarter. Alliancebernstein L.P. now owns 41,082 shares of the electronics maker’s stock valued at $1,711,000 after purchasing an additional 258 shares during the period. FMR LLC raised its stake in shares of CTS by 39.1% in the first quarter. FMR LLC now owns 986 shares of the electronics maker’s stock worth $49,000 after purchasing an additional 277 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of CTS by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 56,530 shares of the electronics maker’s stock worth $2,797,000 after purchasing an additional 304 shares during the period. Finally, Captrust Financial Advisors boosted its position in CTS by 2.7% in the third quarter. Captrust Financial Advisors now owns 11,562 shares of the electronics maker’s stock valued at $482,000 after buying an additional 308 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

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.