StockNews.com downgraded shares of CTS (NYSE:CTS – Free Report) from a buy rating to a hold rating in a research report released on Friday.
Separately, Scotiabank downgraded shares of CTS from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th.
Get Our Latest Research Report on CTS
CTS Stock Up 1.2 %
CTS (NYSE:CTS – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The company had revenue of $132.42 million during the quarter. CTS had a net margin of 11.66% and a return on equity of 12.39%. During the same period in the previous year, the company earned $0.54 earnings per share. As a group, sell-side analysts predict that CTS will post 2.15 EPS for the current fiscal year.
CTS Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, December 27th will be paid a $0.04 dividend. The ex-dividend date is Friday, December 27th. This represents a $0.16 dividend on an annualized basis and a yield of 0.31%. CTS’s payout ratio is currently 8.25%.
Insider Activity at CTS
In related news, CEO Kieran M. O’sullivan sold 12,794 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $55.50, for a total value of $710,067.00. Following the sale, the chief executive officer now owns 400,456 shares of the company’s stock, valued at $22,225,308. This trade represents a 3.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 59,956 shares of company stock worth $3,331,185 in the last 90 days. 2.00% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of CTS by 132.5% during the third quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock worth $28,000 after buying an additional 334 shares during the period. Canada Pension Plan Investment Board acquired a new stake in CTS in the second quarter worth about $41,000. KBC Group NV grew its position in CTS by 58.2% in the 4th quarter. KBC Group NV now owns 1,713 shares of the electronics maker’s stock valued at $90,000 after buying an additional 630 shares in the last quarter. Quest Partners LLC acquired a new position in CTS during the 3rd quarter valued at about $92,000. Finally, Sei Investments Co. acquired a new stake in shares of CTS in the 2nd quarter worth approximately $263,000. Institutional investors own 96.87% of the company’s stock.
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.
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