Insider Selling: CTS Co. (NYSE:CTS) CEO Sells $97,008.00 in Stock

CTS Co. (NYSE:CTS) CEO Kieran M. O’sullivan sold 2,064 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $47.00, for a total value of $97,008.00. Following the sale, the chief executive officer now owns 499,498 shares in the company, valued at approximately $23,476,406. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

CTS Trading Down 1.2 %

CTS opened at $43.84 on Thursday. CTS Co. has a one year low of $35.50 and a one year high of $47.90. The company has a market cap of $1.35 billion, a P/E ratio of 22.83 and a beta of 0.61. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.67 and a current ratio of 3.29. The business’s 50-day simple moving average is $45.16 and its 200-day simple moving average is $42.41.

CTS (NYSE:CTS) last released its quarterly earnings data on Tuesday, February 6th. The electronics maker reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. CTS had a return on equity of 13.41% and a net margin of 11.00%. The business had revenue of $124.69 million for the quarter, compared to the consensus estimate of $124.51 million. During the same quarter in the prior year, the business posted $0.56 EPS. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. As a group, equities research analysts expect that CTS Co. will post 2.3 EPS for the current fiscal year.

CTS Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Thursday, March 28th will be given a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.36%. CTS’s dividend payout ratio (DPR) is presently 8.33%.

Analyst Ratings Changes

Several equities research analysts have weighed in on CTS shares. Sidoti downgraded CTS from a “buy” rating to a “neutral” rating and set a $46.00 price target on the stock. in a report on Wednesday, February 7th. TD Cowen upped their price target on CTS from $38.00 to $46.00 and gave the stock a “market perform” rating in a report on Wednesday, February 7th.

Institutional Trading of CTS

A number of large investors have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. boosted its position in shares of CTS by 5.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,331,200 shares of the electronics maker’s stock valued at $131,316,000 after purchasing an additional 162,871 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of CTS by 1.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,150,545 shares of the electronics maker’s stock valued at $107,276,000 after purchasing an additional 59,524 shares during the period. Vanguard Group Inc. boosted its position in shares of CTS by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 2,772,099 shares of the electronics maker’s stock valued at $121,252,000 after purchasing an additional 42,176 shares during the period. Wellington Management Group LLP boosted its position in shares of CTS by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 1,344,017 shares of the electronics maker’s stock valued at $58,787,000 after purchasing an additional 94,901 shares during the period. Finally, Brown Advisory Inc. boosted its position in shares of CTS by 2.3% in the 3rd quarter. Brown Advisory Inc. now owns 1,235,401 shares of the electronics maker’s stock valued at $51,566,000 after purchasing an additional 27,808 shares during the period. 96.87% of the stock is owned by institutional investors and hedge funds.

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.