CTS Co. (NYSE:CTS) CEO Sells $1,784,692.18 in Stock

CTS Co. (NYSE:CTS) CEO Kieran M. O’sullivan sold 31,978 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $55.81, for a total value of $1,784,692.18. Following the completion of the sale, the chief executive officer now owns 423,665 shares in the company, valued at $23,644,743.65. The trade was a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CTS Stock Up 0.4 %

NYSE CTS traded up $0.21 during trading hours on Wednesday, hitting $55.50. The company’s stock had a trading volume of 117,018 shares, compared to its average volume of 149,321. The company has a market capitalization of $1.67 billion, a PE ratio of 28.50 and a beta of 0.60. The company has a current ratio of 2.46, a quick ratio of 1.91 and a debt-to-equity ratio of 0.19. CTS Co. has a 52 week low of $39.15 and a 52 week high of $59.68. The company’s 50-day simple moving average is $51.27 and its two-hundred day simple moving average is $50.28.

CTS (NYSE:CTS) last announced its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06. CTS had a return on equity of 12.39% and a net margin of 11.66%. The business had revenue of $132.42 million during the quarter. During the same quarter last year, the company posted $0.54 EPS. Research analysts anticipate that CTS Co. will post 2.15 EPS for the current fiscal year.

CTS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, December 27th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Friday, December 27th. CTS’s payout ratio is currently 8.25%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP boosted its holdings in CTS by 23.1% during the third quarter. Wasatch Advisors LP now owns 1,993,863 shares of the electronics maker’s stock worth $96,463,000 after purchasing an additional 374,104 shares during the last quarter. Earnest Partners LLC boosted its holdings in CTS by 3.0% during the second quarter. Earnest Partners LLC now owns 1,735,534 shares of the electronics maker’s stock worth $87,870,000 after purchasing an additional 50,632 shares during the last quarter. Geode Capital Management LLC boosted its holdings in CTS by 4.3% during the third quarter. Geode Capital Management LLC now owns 806,180 shares of the electronics maker’s stock worth $39,010,000 after purchasing an additional 33,449 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in CTS by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 385,602 shares of the electronics maker’s stock worth $18,655,000 after purchasing an additional 9,674 shares during the last quarter. Finally, Tributary Capital Management LLC boosted its holdings in CTS by 0.3% during the second quarter. Tributary Capital Management LLC now owns 308,078 shares of the electronics maker’s stock worth $15,598,000 after purchasing an additional 902 shares during the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. StockNews.com lowered shares of CTS from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Scotiabank cut CTS from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th.

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.