Kieran M. O’sullivan Sells 8,494 Shares of CTS Co. (NYSE:CTS) Stock

CTS Co. (NYSE:CTS) CEO Kieran M. O’sullivan sold 8,494 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $54.50, for a total transaction of $462,923.00. Following the sale, the chief executive officer now owns 382,333 shares of the company’s stock, valued at approximately $20,837,148.50. This represents a 2.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

CTS Stock Performance

NYSE CTS opened at $56.28 on Wednesday. The firm has a 50-day moving average price of $52.01 and a two-hundred day moving average price of $50.36. CTS Co. has a 12-month low of $39.43 and a 12-month high of $59.68. The company has a market capitalization of $1.70 billion, a P/E ratio of 29.01 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 (NYSE:CTS) last issued its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. The business had revenue of $132.42 million during 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 firm posted $0.54 earnings per share. Analysts anticipate that CTS Co. will post 2.15 earnings per share for the current year.

CTS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, December 27th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Friday, December 27th. CTS’s dividend payout ratio (DPR) is currently 8.25%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CTS. Wasatch Advisors LP grew its stake in CTS by 23.1% during the third quarter. Wasatch Advisors LP now owns 1,993,863 shares of the electronics maker’s stock worth $96,463,000 after buying an additional 374,104 shares in the last quarter. Weiss Asset Management LP bought a new stake in shares of CTS during the 3rd quarter worth approximately $4,960,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of CTS during the 2nd quarter worth approximately $4,001,000. Marshall Wace LLP bought a new position in CTS in the second quarter valued at approximately $2,662,000. Finally, Earnest Partners LLC raised its position in CTS by 3.0% during the second quarter. Earnest Partners LLC now owns 1,735,534 shares of the electronics maker’s stock valued at $87,870,000 after purchasing an additional 50,632 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Analyst Ratings Changes

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

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.