CTS Co. (NYSE:CTS) SVP Martin Baumeister Sells 5,733 Shares

CTS Co. (NYSE:CTS) SVP Martin Baumeister sold 5,733 shares of CTS stock in a transaction on Friday, May 24th. The shares were sold at an average price of $52.39, for a total transaction of $300,351.87. Following the completion of the sale, the senior vice president now owns 19,811 shares in the company, valued at approximately $1,037,898.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

CTS Price Performance

Shares of NYSE CTS opened at $53.50 on Friday. The company has a 50 day simple moving average of $48.20 and a two-hundred day simple moving average of $44.55. CTS Co. has a fifty-two week low of $35.50 and a fifty-two week high of $54.37. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 31.47 and a beta of 0.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.71 and a current ratio of 3.32.

CTS (NYSE:CTS) last posted its quarterly earnings results on Wednesday, May 1st. The electronics maker reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. CTS had a return on equity of 12.39% and a net margin of 10.06%. The company had revenue of $125.70 million for the quarter, compared to the consensus estimate of $126.75 million. During the same quarter in the prior year, the business posted $0.61 EPS. The firm’s quarterly revenue was down 13.9% compared to the same quarter last year. Analysts expect that CTS Co. will post 2.25 EPS for the current fiscal year.

CTS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.16 dividend on an annualized basis and a yield of 0.30%. CTS’s payout ratio is currently 9.41%.

Institutional Trading of CTS

A number of institutional investors have recently made changes to their positions in CTS. Parallel Advisors LLC lifted its position in CTS by 245.5% during the fourth quarter. Parallel Advisors LLC now owns 577 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 410 shares during the period. Central Pacific Bank Trust Division purchased a new stake in CTS during the first quarter valued at $46,000. Quadrant Capital Group LLC lifted its holdings in CTS by 25.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock valued at $72,000 after acquiring an additional 336 shares during the period. Handelsbanken Fonder AB bought a new stake in shares of CTS during the 4th quarter valued at about $209,000. Finally, Perpetual Ltd bought a new stake in shares of CTS during the 1st quarter valued at about $211,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CTS. StockNews.com upgraded shares of CTS from a “hold” rating to a “buy” rating in a research report on Wednesday. Sidoti cut CTS from a “buy” rating to a “neutral” rating and set a $46.00 target price for the company. in a research note on Wednesday, February 7th. Finally, TD Cowen upped their price target on CTS from $38.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th.

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.