Insider Selling: CTS Co. (NYSE:CTS) CEO Sells 8,494 Shares of Stock

CTS Co. (NYSE:CTS) CEO Kieran M. O’sullivan sold 8,494 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $54.50, for a total value of $462,923.00. Following the transaction, the chief executive officer now owns 382,333 shares of the company’s stock, valued at approximately $20,837,148.50. The trade was a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CTS Stock Performance

CTS stock traded up $0.60 during trading on Tuesday, reaching $56.23. 154,668 shares of the company’s stock were exchanged, compared to its average volume of 148,934. The firm has a market cap of $1.69 billion, a PE ratio of 28.72 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 1-year low of $39.43 and a 1-year high of $59.68. The company’s fifty day moving average price is $51.83 and its 200-day moving average price is $50.33.

CTS (NYSE:CTS) last released its earnings results on Tuesday, October 29th. The electronics maker reported $0.63 EPS for the quarter, beating the consensus estimate of $0.57 by $0.06. The firm 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 previous year, the business posted $0.54 EPS. On average, research analysts expect that CTS Co. will post 2.15 EPS for the current fiscal year.

CTS Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Friday, December 27th. CTS’s payout ratio is currently 8.25%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On CTS

Several hedge funds have recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in CTS during the third quarter valued at approximately $1,890,000. Royce & Associates LP increased its holdings in shares of CTS by 5.4% in the third quarter. Royce & Associates LP now owns 294,513 shares of the electronics maker’s stock valued at $14,249,000 after buying an additional 15,062 shares in the last quarter. Earnest Partners LLC lifted its position in shares of CTS by 3.0% during the 2nd quarter. Earnest Partners LLC now owns 1,735,534 shares of the electronics maker’s stock valued at $87,870,000 after acquiring an additional 50,632 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of CTS during the 3rd quarter worth $1,719,000. Finally, Raymond James & Associates grew its holdings in shares of CTS by 55.1% in the 2nd quarter. Raymond James & Associates now owns 132,729 shares of the electronics maker’s stock worth $6,720,000 after acquiring an additional 47,149 shares during the last quarter. 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.