CTS Co. (NYSE:CTS) CEO Kieran M. O’sullivan Sells 6,690 Shares

CTS Co. (NYSE:CTS) CEO Kieran M. O’sullivan sold 6,690 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $55.83, for a total value of $373,502.70. Following the transaction, the chief executive officer now directly owns 375,643 shares in the company, valued at $20,972,148.69. This trade represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

CTS Price Performance

NYSE:CTS traded up $0.60 during mid-day trading on Tuesday, reaching $56.23. 154,668 shares of the stock were exchanged, compared to its average volume of 148,934. The company has a current ratio of 2.46, a quick ratio of 1.91 and a debt-to-equity ratio of 0.19. The business has a fifty day moving average price of $51.83 and a 200 day moving average price of $50.33. CTS Co. has a 1-year low of $39.43 and a 1-year high of $59.68. The firm has a market capitalization of $1.69 billion, a PE ratio of 28.72 and a beta of 0.60.

CTS (NYSE:CTS) last announced its quarterly earnings data 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. The company had revenue of $132.42 million for the quarter. CTS had a net margin of 11.66% and a return on equity of 12.39%. During the same period in the prior year, the firm earned $0.54 EPS. Research analysts expect that CTS Co. will post 2.15 earnings per share for the current fiscal year.

CTS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, December 27th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.28%. The ex-dividend date is Friday, December 27th. CTS’s dividend payout ratio (DPR) is currently 8.25%.

Analysts Set New Price Targets

CTS has been the topic of several research analyst reports. Scotiabank cut shares of CTS from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. StockNews.com lowered shares of CTS from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CTS. SG Americas Securities LLC purchased a new stake in shares of CTS during the 2nd quarter worth about $324,000. Raymond James & Associates increased its holdings in CTS by 55.1% in the second quarter. Raymond James & Associates now owns 132,729 shares of the electronics maker’s stock worth $6,720,000 after buying an additional 47,149 shares during the last quarter. SummerHaven Investment Management LLC raised its position in CTS by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 17,529 shares of the electronics maker’s stock valued at $887,000 after acquiring an additional 285 shares in the last quarter. Tributary Capital Management LLC lifted its stake in CTS by 0.3% in the second quarter. Tributary Capital Management LLC now owns 308,078 shares of the electronics maker’s stock valued at $15,598,000 after acquiring an additional 902 shares during the last quarter. Finally, Raymond James Trust N.A. acquired a new stake in CTS in the second quarter valued at approximately $249,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

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.