Kieran M. O’sullivan Sells 2,064 Shares of CTS Co. (NYSE:CTS) Stock

CTS Co. (NYSE:CTS) CEO Kieran M. O’sullivan sold 2,064 shares of CTS stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $47.00, for a total transaction of $97,008.00. Following the completion of the sale, the chief executive officer now owns 499,498 shares in the company, valued at $23,476,406. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CTS Price Performance

Shares of CTS opened at $45.46 on Tuesday. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 23.68 and a beta of 0.61. CTS Co. has a 1-year low of $35.50 and a 1-year high of $47.90. The company’s fifty day simple moving average is $45.17 and its 200 day simple moving average is $42.38. The company has a current ratio of 3.29, a quick ratio of 2.67 and a debt-to-equity ratio of 0.13.

CTS (NYSE:CTS) last issued its earnings results on Tuesday, February 6th. The electronics maker reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $124.69 million for the quarter, compared to the consensus estimate of $124.51 million. CTS had a net margin of 11.00% and a return on equity of 13.41%. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.56 earnings per share. On average, research analysts forecast that CTS Co. will post 2.3 earnings per share for the current fiscal year.

CTS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Thursday, March 28th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.35%. CTS’s dividend payout ratio is currently 8.33%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CTS. TD Cowen lifted their price objective on shares of CTS from $38.00 to $46.00 and gave the company a “market perform” rating in a report on Wednesday, February 7th. Sidoti downgraded shares of CTS from a “buy” rating to a “neutral” rating and set a $46.00 target price on the stock. in a report on Wednesday, February 7th.

Hedge Funds Weigh In On CTS

Institutional investors and hedge funds have recently modified their holdings of the stock. Deutsche Bank AG increased its holdings in shares of CTS by 18.7% in the third 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 during the last quarter. Illinois Municipal Retirement Fund acquired a new position in shares of CTS in the third quarter valued at $774,000. Annex Advisory Services LLC increased its holdings in shares of CTS by 43.1% in the third quarter. Annex Advisory Services LLC now owns 15,619 shares of the electronics maker’s stock valued at $652,000 after purchasing an additional 4,708 shares during the last quarter. Tributary Capital Management LLC increased its holdings in shares of CTS by 1.8% in the third quarter. Tributary Capital Management LLC now owns 281,215 shares of the electronics maker’s stock valued at $11,738,000 after purchasing an additional 4,933 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of CTS by 4.7% in the third quarter. Vanguard Group Inc. now owns 2,729,923 shares of the electronics maker’s stock valued at $113,947,000 after acquiring an additional 122,600 shares during the period. 96.87% of the stock is currently owned by institutional investors and hedge funds.

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.