Insider Selling: CTS Co. (NYSE:CTS) CEO Sells 6,690 Shares of Stock

CTS Co. (NYSE:CTS) CEO Kieran M. O’sullivan sold 6,690 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $55.83, for a total transaction of $373,502.70. Following the sale, the chief executive officer now directly owns 375,643 shares of the company’s stock, valued at approximately $20,972,148.69. This represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

CTS Price Performance

NYSE:CTS traded up $0.60 on Tuesday, reaching $56.23. The stock had a trading volume of 154,668 shares, compared to its average volume of 148,934. The company has a quick ratio of 1.91, a current ratio of 2.46 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $1.69 billion, a P/E ratio of 28.72 and a beta of 0.60. CTS Co. has a 1-year low of $39.43 and a 1-year high of $59.68. The stock has a fifty day moving average price of $51.83 and a 200-day moving average price of $50.33.

CTS (NYSE:CTS) last announced its earnings results 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. CTS had a return on equity of 12.39% and a net margin of 11.66%. The company had revenue of $132.42 million during the quarter. During the same quarter last year, the business posted $0.54 earnings per share. Research analysts forecast that CTS Co. will post 2.15 EPS 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 paid 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 of this dividend is Friday, December 27th. CTS’s dividend payout ratio (DPR) is presently 8.25%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On CTS

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in CTS by 4.3% in the third quarter. Geode Capital Management LLC now owns 806,180 shares of the electronics maker’s stock valued at $39,010,000 after purchasing an additional 33,449 shares during the last quarter. Barclays PLC grew its holdings in CTS by 256.1% during the third quarter. Barclays PLC now owns 57,238 shares of the electronics maker’s stock valued at $2,769,000 after purchasing an additional 41,164 shares during the period. Weiss Asset Management LP acquired a new position in CTS during the third quarter valued at approximately $4,960,000. Wasatch Advisors LP increased its stake 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 purchasing an additional 374,104 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised 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 worth $6,698,000 after purchasing an additional 27,455 shares during the period. 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.