CTS Co. (NYSE:CTS) CFO Sells $75,388.00 in Stock

CTS Co. (NYSE:CTS) CFO Ashish Agrawal sold 1,604 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $47.00, for a total value of $75,388.00. Following the sale, the chief financial officer now owns 126,373 shares of the company’s stock, valued at approximately $5,939,531. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ashish Agrawal also recently made the following trade(s):

• On Wednesday, May 1st, Ashish Agrawal sold 4,495 shares of CTS stock. The stock was sold at an average price of $47.03, for a total value of $211,399.85.
• On Thursday, April 11th, Ashish Agrawal sold 800 shares of CTS stock. The stock was sold at an average price of $47.00, for a total value of $37,600.00.
• On Thursday, March 28th, Ashish Agrawal sold 4,504 shares of CTS stock. The stock was sold at an average price of $47.10, for a total value of $212,138.40.

CTS Stock Performance

NYSE:CTS opened at $49.59 on Friday. CTS Co. has a twelve month low of $35.50 and a twelve month high of $49.67. The company has a market capitalization of $1.53 billion, a P/E ratio of 29.17 and a beta of 0.62. The company has a current ratio of 3.32, a quick ratio of 2.67 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $45.33 and a two-hundred day moving average price of $42.78.

CTS (NYSE:CTS) last issued its quarterly earnings data on Wednesday, May 1st. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. The firm had revenue of $125.70 million during the quarter, compared to the consensus estimate of $126.75 million. CTS had a return on equity of 12.39% and a net margin of 10.06%. The company’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 EPS. As a group, research analysts expect that CTS Co. will post 2.3 earnings per share for the current fiscal year.

CTS Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Thursday, March 28th were issued a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.16 dividend on an annualized basis and a yield of 0.32%. CTS’s dividend payout ratio (DPR) is 9.41%.

Institutional Investors Weigh In On CTS

Hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC grew its stake in CTS by 245.5% in the 4th quarter. Parallel Advisors LLC now owns 577 shares of the electronics maker’s stock worth $25,000 after acquiring an additional 410 shares during the period. Central Pacific Bank Trust Division purchased a new position in CTS during the first quarter worth about $46,000. Quadrant Capital Group LLC boosted its stake in CTS by 25.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock worth $72,000 after buying an additional 336 shares during the last quarter. Handelsbanken Fonder AB acquired a new position in shares of CTS during the 4th quarter valued at about $209,000. Finally, Perpetual Ltd purchased a new position in shares of CTS during the 1st quarter worth about $211,000. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on CTS shares. TD Cowen increased their price objective 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 cut CTS from a “buy” rating to a “neutral” rating and set a $46.00 price objective for the company. in a research report on Wednesday, February 7th.

CTS Company Profile

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.