CTS (NYSE:CTS) Shares Cross Above 200 Day Moving Average – Should You Sell?

CTS Corporation (NYSE:CTS) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $42.30 and traded as high as $50.50. CTS shares last traded at $50.2450, with a volume of 175,332 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CTS. Weiss Ratings restated a “hold (c)” rating on shares of CTS in a report on Wednesday, January 21st. Wall Street Zen lowered CTS from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 4th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

CTS Stock Performance

The stock has a market capitalization of $1.46 billion, a PE ratio of 25.51, a P/E/G ratio of 1.30 and a beta of 0.91. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.12 and a current ratio of 2.64. The firm has a 50 day moving average of $44.76 and a 200-day moving average of $42.30.

CTS (NYSE:CTS) last released its earnings results on Tuesday, October 28th. The electronics maker reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.01). The business had revenue of $142.97 million for the quarter, compared to analysts’ expectations of $136.40 million. CTS had a net margin of 11.14% and a return on equity of 11.92%. Research analysts forecast that CTS Corporation will post 2.28 earnings per share for the current year.

CTS Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Stockholders of record on Friday, December 26th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, December 26th. CTS’s payout ratio is currently 8.12%.

CTS declared that its board has approved a stock repurchase plan on Friday, November 7th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to purchase up to 8.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of CTS

A number of institutional investors have recently bought and sold shares of the company. Rhumbline Advisers increased its position in CTS by 3.0% in the 2nd quarter. Rhumbline Advisers now owns 89,595 shares of the electronics maker’s stock worth $3,818,000 after purchasing an additional 2,577 shares during the last quarter. Tudor Investment Corp ET AL grew its stake in shares of CTS by 103.4% in the 3rd quarter. Tudor Investment Corp ET AL now owns 85,266 shares of the electronics maker’s stock valued at $3,406,000 after buying an additional 43,341 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in CTS by 11.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,298 shares of the electronics maker’s stock worth $2,921,000 after buying an additional 7,144 shares during the last quarter. Jane Street Group LLC lifted its stake in CTS by 19.0% in the first quarter. Jane Street Group LLC now owns 59,694 shares of the electronics maker’s stock valued at $2,480,000 after acquiring an additional 9,530 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in CTS by 4.3% in the second quarter. Lazard Asset Management LLC now owns 31,664 shares of the electronics maker’s stock worth $1,349,000 after acquiring an additional 1,299 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

About CTS

CTS Corporation (NYSE:CTS) is a global manufacturer and supplier of electronic components and sensors, headquartered in Lisle, Illinois. Established in 1896 as the Chicago Telephone Supply Company, the firm has evolved over more than a century to become a diversified provider of high-precision products for a wide range of end markets.

The company’s core business encompasses the design, development and production of sensors and actuators, frequency control devices such as quartz crystals and filters, multilayer ceramic capacitors, and inductive components.