CTS Co. (NYSE:CTS) CEO Sells $373,502.70 in Stock

CTS Co. (NYSE:CTS) CEO Kieran M. O’sullivan sold 6,690 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 375,643 shares in the company, valued at approximately $20,972,148.69. The trade was a 1.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

CTS Price Performance

CTS stock opened at $56.31 on Friday. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 29.03 and a beta of 0.60. The company has a quick ratio of 1.91, a current ratio of 2.46 and a debt-to-equity ratio of 0.19. CTS Co. has a 52-week low of $39.43 and a 52-week high of $59.68. The stock’s fifty day simple moving average is $52.36 and its 200-day simple moving average is $50.44.

CTS (NYSE:CTS) last released its earnings results on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.06. The firm had revenue of $132.42 million for the quarter. CTS had a return on equity of 12.39% and a net margin of 11.66%. During the same quarter last year, the company posted $0.54 earnings per share. Equities research analysts expect that CTS Co. will post 2.15 EPS for the current year.

CTS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, December 27th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.16 annualized dividend and a yield of 0.28%. CTS’s payout ratio is 8.25%.

Institutional Investors Weigh In On CTS

Several large investors have recently made changes to their positions in CTS. Innealta Capital LLC acquired a new position in shares of CTS during the second quarter worth about $27,000. GAMMA Investing LLC lifted its position in CTS by 132.5% during the 3rd quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 334 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in CTS in the 2nd quarter worth approximately $41,000. Quest Partners LLC acquired a new stake in CTS in the third quarter valued at approximately $92,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of CTS during the second quarter valued at approximately $157,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Scotiabank downgraded CTS from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th. StockNews.com cut shares of CTS from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th.

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.