CTS Co. (NYSE:CTS) CEO Sells $1,784,692.18 in Stock

CTS Co. (NYSE:CTS) CEO Kieran M. O’sullivan sold 31,978 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $55.81, for a total value of $1,784,692.18. Following the completion of the transaction, the chief executive officer now directly owns 423,665 shares in the company, valued at $23,644,743.65. The trade was a 7.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

CTS Price Performance

CTS stock traded up $0.21 during midday trading on Wednesday, reaching $55.50. The company had a trading volume of 117,018 shares, compared to its average volume of 149,321. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.46 and a quick ratio of 1.91. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 28.50 and a beta of 0.60. CTS Co. has a 1-year low of $39.15 and a 1-year high of $59.68. The stock has a 50 day moving average price of $51.27 and a 200-day moving average price of $50.28.

CTS (NYSE:CTS) last issued its earnings results on Tuesday, October 29th. The electronics maker reported $0.63 EPS for the quarter, topping the consensus estimate of $0.57 by $0.06. The firm 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 period in the previous year, the firm posted $0.54 EPS. Equities research analysts expect that CTS Co. will post 2.15 earnings per share for the current year.

CTS Announces Dividend

The company also recently declared 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 0.29%. The ex-dividend date of this dividend is Friday, December 27th. CTS’s dividend payout ratio (DPR) is currently 8.25%.

Institutional Trading of CTS

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of CTS by 4.3% during the third quarter. Geode Capital Management LLC now owns 806,180 shares of the electronics maker’s stock worth $39,010,000 after purchasing an additional 33,449 shares during the last quarter. Barclays PLC grew its holdings in shares of CTS by 256.1% during the third quarter. Barclays PLC now owns 57,238 shares of the electronics maker’s stock worth $2,769,000 after purchasing an additional 41,164 shares during the last quarter. Weiss Asset Management LP bought a new stake in shares of CTS during the third quarter worth about $4,960,000. Wasatch Advisors LP boosted its holdings in CTS by 23.1% in the third quarter. Wasatch Advisors LP now owns 1,993,863 shares of the electronics maker’s stock valued at $96,463,000 after acquiring an additional 374,104 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in CTS by 24.7% in the third quarter. Rockefeller Capital Management L.P. now owns 138,444 shares of the electronics maker’s stock valued at $6,698,000 after acquiring an additional 27,455 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. StockNews.com cut CTS from a “buy” rating to a “hold” rating in a research 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.