CTS Co. (NYSE:CTS) CEO Sells $1,314,604.55 in Stock

CTS Co. (NYSE:CTS) CEO Kieran M. O’sullivan sold 27,905 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $47.11, for a total value of $1,314,604.55. Following the completion of the transaction, the chief executive officer now owns 455,643 shares in the company, valued at approximately $21,465,341.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

CTS Stock Performance

Shares of CTS stock opened at $49.59 on Friday. CTS Co. has a 12-month low of $35.50 and a 12-month high of $49.67. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 29.17 and a beta of 0.62. The business has a 50 day simple moving average of $45.33 and a 200 day simple moving average of $42.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.32 and a quick ratio of 2.67.

CTS (NYSE:CTS) last issued its quarterly earnings data on Wednesday, May 1st. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. CTS had a return on equity of 12.39% and a net margin of 10.06%. The business had revenue of $125.70 million during the quarter, compared to analyst estimates of $126.75 million. During the same period in the prior year, the company posted $0.61 EPS. The business’s revenue for the quarter was down 13.9% compared to the same quarter last year. On average, equities research analysts anticipate that CTS Co. will post 2.3 EPS for the current 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 paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend was Wednesday, March 27th. CTS’s payout ratio is currently 9.41%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On CTS

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG boosted its stake in CTS by 18.7% during the 3rd quarter. Deutsche Bank AG now owns 16,159 shares of the electronics maker’s stock valued at $674,000 after purchasing an additional 2,541 shares in the last quarter. Illinois Municipal Retirement Fund bought a new stake in shares of CTS during the 3rd quarter worth $774,000. Annex Advisory Services LLC boosted its stake in shares of CTS by 43.1% during the 3rd quarter. Annex Advisory Services LLC now owns 15,619 shares of the electronics maker’s stock worth $652,000 after acquiring an additional 4,708 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of CTS by 21.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 63,888 shares of the electronics maker’s stock worth $2,794,000 after acquiring an additional 11,079 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of CTS by 4.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,729,923 shares of the electronics maker’s stock worth $113,947,000 after acquiring an additional 122,600 shares in the last quarter. 96.87% of the stock is owned by 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.