Insider Selling: CTS Co. (NYSE:CTS) CFO Sells 4,495 Shares of Stock

CTS Co. (NYSE:CTS) CFO Ashish Agrawal sold 4,495 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $47.03, for a total transaction of $211,399.85. Following the completion of the sale, the chief financial officer now directly owns 120,278 shares in the company, valued at $5,656,674.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Ashish Agrawal also recently made the following trade(s):

• On Monday, April 29th, Ashish Agrawal sold 1,604 shares of CTS stock. The shares were sold at an average price of $47.00, for a total value of $75,388.00.
• On Thursday, April 11th, Ashish Agrawal sold 800 shares of CTS stock. The stock was sold at an average price of $47.00, for a total value of $37,600.00.
• On Thursday, March 28th, Ashish Agrawal sold 4,504 shares of CTS stock. The shares were sold at an average price of $47.10, for a total value of $212,138.40.

CTS Stock Up 3.7 %

Shares of NYSE:CTS opened at $47.42 on Thursday. The company has a quick ratio of 2.67, a current ratio of 3.29 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $45.18 and its 200 day moving average is $42.68. The stock has a market cap of $1.46 billion, a P/E ratio of 24.70 and a beta of 0.61. CTS Co. has a 52-week low of $35.50 and a 52-week high of $47.96.

CTS (NYSE:CTS) last posted its quarterly earnings results on Tuesday, February 6th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $124.69 million for the quarter, compared to the consensus estimate of $124.51 million. CTS had a return on equity of 13.41% and a net margin of 11.00%. The business’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.56 EPS. Sell-side analysts predict that CTS Co. will post 2.3 EPS for the current year.

CTS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Thursday, March 28th were issued a $0.04 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.34%. CTS’s dividend payout ratio is currently 8.33%.

Hedge Funds Weigh In On CTS

A number of hedge funds and other institutional investors have recently modified their holdings of CTS. Parallel Advisors LLC lifted its holdings in CTS by 245.5% during the fourth quarter. Parallel Advisors LLC now owns 577 shares of the electronics maker’s stock worth $25,000 after buying an additional 410 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of CTS by 25.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock valued at $72,000 after acquiring an additional 336 shares during the period. Handelsbanken Fonder AB bought a new position in shares of CTS in the 4th quarter worth $209,000. Perpetual Ltd purchased a new stake in shares of CTS during the 1st quarter worth $211,000. Finally, Janney Montgomery Scott LLC bought a new stake in CTS during the first quarter valued at about $216,000. 96.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CTS has been the subject of a number of recent analyst reports. TD Cowen boosted their target price on shares of CTS from $38.00 to $46.00 and gave the company a “market perform” rating in a research note on Wednesday, February 7th. Sidoti lowered shares of CTS from a “buy” rating to a “neutral” rating and set a $46.00 price objective for the company. in a report on Wednesday, February 7th.

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.