Insider Selling: CTS Co. (NYSE:CTS) CEO Sells 6,179 Shares of Stock

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

CTS Stock Up 3.7 %

Shares of NYSE:CTS opened at $47.42 on Thursday. CTS Co. has a 52-week low of $35.50 and a 52-week high of $47.96. The stock has a market cap of $1.46 billion, a P/E ratio of 24.70 and a beta of 0.61. The business has a fifty day moving average of $45.18 and a two-hundred day moving average of $42.68. The company has a quick ratio of 2.67, a current ratio of 3.29 and a debt-to-equity ratio of 0.13.

CTS (NYSE:CTS) last issued its earnings results on Tuesday, February 6th. The electronics maker reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The company 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%. CTS’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.56 earnings per share. On average, research analysts expect that CTS Co. will post 2.3 earnings per share for the current year.

CTS Dividend Announcement

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

Institutional Trading of CTS

Hedge funds and other institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC purchased a new position in CTS during the 1st quarter worth $216,000. BNP Paribas Financial Markets boosted its holdings in CTS by 9.2% in the 1st quarter. BNP Paribas Financial Markets now owns 27,511 shares of the electronics maker’s stock valued at $1,287,000 after purchasing an additional 2,310 shares in the last quarter. Principal Financial Group Inc. increased its position in CTS by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 175,111 shares of the electronics maker’s stock worth $8,193,000 after purchasing an additional 5,224 shares during the period. Azzad Asset Management Inc. ADV raised its stake in shares of CTS by 2.2% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 11,364 shares of the electronics maker’s stock worth $532,000 after buying an additional 249 shares in the last quarter. Finally, Wasatch Advisors LP lifted its holdings in shares of CTS by 160.3% in the 1st quarter. Wasatch Advisors LP now owns 963,954 shares of the electronics maker’s stock valued at $45,103,000 after buying an additional 593,641 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CTS. Sidoti downgraded shares of CTS from a “buy” rating to a “neutral” rating and set a $46.00 price objective on the stock. in a report on Wednesday, February 7th. TD Cowen increased their price objective on CTS from $38.00 to $46.00 and gave the company a “market perform” rating in a research note 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.