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 the company’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $47.00, for a total value of $97,008.00. Following the completion of the sale, the chief executive officer now directly owns 499,498 shares of the company’s stock, valued at approximately $23,476,406. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

CTS Trading Down 1.2 %

Shares of CTS opened at $43.84 on Thursday. The stock has a 50-day moving average price of $45.16 and a 200 day moving average price of $42.41. CTS Co. has a one year low of $35.50 and a one year high of $47.90. The company has a market capitalization of $1.35 billion, a P/E ratio of 22.83 and a beta of 0.61. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.67 and a current ratio of 3.29.

CTS (NYSE:CTS) last announced its quarterly earnings data on Tuesday, February 6th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. CTS had a return on equity of 13.41% and a net margin of 11.00%. The firm had revenue of $124.69 million for the quarter, compared to analysts’ expectations of $124.51 million. During the same quarter in the prior year, the firm posted $0.56 earnings per share. CTS’s revenue for the quarter was down 12.4% compared to the same quarter last year. Sell-side analysts forecast that CTS Co. will post 2.3 EPS for the current fiscal year.

CTS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.36%. The ex-dividend date is Wednesday, March 27th. CTS’s payout ratio is currently 8.33%.

Wall Street Analyst Weigh In

CTS has been the subject of several analyst reports. TD Cowen upped their target price on CTS from $38.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th. Sidoti downgraded CTS from a “buy” rating to a “neutral” rating and set a $46.00 price target for the company. in a report on Wednesday, February 7th.

Institutional Trading of CTS

Several institutional investors and hedge funds have recently bought and sold shares of CTS. Wasatch Advisors LP acquired a new stake in shares of CTS during the 4th quarter worth approximately $16,197,000. Norges Bank acquired a new stake in shares of CTS during the 4th quarter worth approximately $10,697,000. Heartland Advisors Inc. acquired a new stake in shares of CTS during the 4th quarter worth approximately $9,855,000. T. Rowe Price Investment Management Inc. raised its position in shares of CTS by 5.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,331,200 shares of the electronics maker’s stock worth $131,316,000 after purchasing an additional 162,871 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of CTS by 181.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 216,035 shares of the electronics maker’s stock worth $9,017,000 after purchasing an additional 139,269 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.

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.