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 company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $47.11, for a total transaction of $1,314,604.55. Following the sale, the chief executive officer now owns 455,643 shares of the company’s stock, valued at approximately $21,465,341.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

CTS Price Performance

CTS opened at $49.59 on Friday. The company has a quick ratio of 2.67, a current ratio of 3.32 and a debt-to-equity ratio of 0.13. CTS Co. has a 12 month low of $35.50 and a 12 month high of $49.67. The company has a fifty day simple moving average of $45.33 and a 200 day simple moving average of $42.78. The stock has a market cap of $1.53 billion, a P/E ratio of 29.17 and a beta of 0.62.

CTS (NYSE:CTS) last released its quarterly earnings data on Wednesday, May 1st. The electronics maker reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. CTS had a net margin of 10.06% and a return on equity of 12.39%. The business had revenue of $125.70 million during the quarter, compared to analysts’ expectations of $126.75 million. During the same quarter in the prior year, the company earned $0.61 EPS. The firm’s quarterly revenue was down 13.9% on a year-over-year basis. On average, research analysts expect that CTS Co. will post 2.3 EPS for the current year.

CTS Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Thursday, March 28th were issued 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 dividend payout ratio (DPR) is presently 9.41%.

Analysts Set New Price Targets

Several brokerages have commented on CTS. Sidoti cut shares of CTS from a “buy” rating to a “neutral” rating and set a $46.00 target price for the company. in a research report on Wednesday, February 7th. TD Cowen upped their price objective on shares of CTS from $38.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, February 7th.

Hedge Funds Weigh In On CTS

A number of large investors have recently added to or reduced their stakes in CTS. SG Americas Securities LLC increased its holdings in CTS by 108.5% during the 3rd quarter. SG Americas Securities LLC now owns 25,591 shares of the electronics maker’s stock worth $1,068,000 after purchasing an additional 13,317 shares in the last quarter. Brown Advisory Inc. increased its holdings in CTS by 2.3% during the 3rd quarter. Brown Advisory Inc. now owns 1,235,401 shares of the electronics maker’s stock worth $51,566,000 after purchasing an additional 27,808 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in CTS by 30.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,578 shares of the electronics maker’s stock worth $275,000 after purchasing an additional 1,525 shares in the last quarter. Annex Advisory Services LLC increased its holdings in 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 purchasing an additional 4,708 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in CTS by 25.5% during the 3rd quarter. Victory Capital Management Inc. now owns 17,461 shares of the electronics maker’s stock worth $729,000 after purchasing an additional 3,543 shares in the last quarter. 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.