CTS (NYSE:CTS) Upgraded at StockNews.com

StockNews.com upgraded shares of CTS (NYSE:CTS) from a hold rating to a buy rating in a research report released on Thursday morning.

Separately, Scotiabank downgraded CTS from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th.

CTS Price Performance

Shares of CTS stock opened at $51.66 on Thursday. The stock has a 50 day moving average of $53.76 and a two-hundred day moving average of $50.60. The company has a current ratio of 2.46, a quick ratio of 1.91 and a debt-to-equity ratio of 0.19. CTS has a 12 month low of $40.27 and a 12 month high of $59.68. The company has a market capitalization of $1.56 billion, a P/E ratio of 26.63 and a beta of 0.60.

CTS (NYSE:CTS) last announced its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The company 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 in the prior year, the business posted $0.54 EPS. As a group, equities analysts expect that CTS will post 2.15 EPS for the current year.

CTS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, December 27th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.16 dividend on an annualized basis and a yield of 0.31%. CTS’s dividend payout ratio is 8.25%.

Insider Activity at CTS

In other news, CEO Kieran M. O’sullivan sold 12,794 shares of CTS stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $55.50, for a total value of $710,067.00. Following the completion of the sale, the chief executive officer now directly owns 400,456 shares of the company’s stock, valued at approximately $22,225,308. This trade represents a 3.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 59,956 shares of company stock valued at $3,331,185 in the last three months. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On CTS

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of CTS by 132.5% in the 3rd quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock valued at $28,000 after buying an additional 334 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of CTS during the second quarter worth $41,000. Quest Partners LLC acquired a new stake in shares of CTS during the third quarter worth $92,000. Summit Trail Advisors LLC acquired a new stake in shares of CTS during the second quarter worth $214,000. Finally, Choreo LLC acquired a new stake in shares of CTS during the second quarter worth $235,000. 96.87% of the stock is owned by institutional investors and hedge funds.

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.