Insider Selling: CTS Co. (NYSE:CTS) CEO Sells $290,413.00 in Stock

CTS Co. (NYSE:CTS) CEO Kieran M. O’sullivan sold 6,179 shares of the firm’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 transaction of $290,413.00. Following the completion of the transaction, the chief executive officer now directly owns 493,319 shares of the company’s stock, valued at approximately $23,185,993. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

CTS Stock Up 2.2 %

CTS stock opened at $49.59 on Friday. The company has a 50 day moving average of $45.33 and a two-hundred day moving average of $42.78. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 29.17 and a beta of 0.62. CTS Co. has a 12-month low of $35.50 and a 12-month high of $49.67. The company has a quick ratio of 2.67, a current ratio of 3.32 and a debt-to-equity ratio of 0.13.

CTS (NYSE:CTS) last released its quarterly earnings data on Wednesday, May 1st. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. CTS had a return on equity of 12.39% and a net margin of 10.06%. The firm had revenue of $125.70 million during the quarter, compared to analysts’ expectations of $126.75 million. During the same quarter last year, the firm earned $0.61 earnings per share. The business’s revenue for the quarter was down 13.9% on a year-over-year basis. On average, equities analysts anticipate that CTS Co. will post 2.3 earnings per share for the current fiscal year.

CTS Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors 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 is currently 9.41%.

Institutional Trading of CTS

A number of institutional investors have recently added to or reduced their stakes in CTS. Azzad Asset Management Inc. ADV raised its holdings in shares of CTS by 2.2% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 11,364 shares of the electronics maker’s stock valued at $532,000 after purchasing an additional 249 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in CTS by 1.5% during the fourth quarter. SummerHaven Investment Management LLC now owns 17,022 shares of the electronics maker’s stock valued at $745,000 after buying an additional 255 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of CTS by 25.8% in the fourth 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. Franklin Resources Inc. boosted its stake in shares of CTS by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 69,086 shares of the electronics maker’s stock worth $3,022,000 after acquiring an additional 401 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of CTS by 245.5% during the 4th quarter. Parallel Advisors LLC now owns 577 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 410 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on CTS shares. Sidoti cut CTS from a “buy” rating to a “neutral” rating and set a $46.00 target price for the company. in a research report on Wednesday, February 7th. TD Cowen raised 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.

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.