CTS (NYSE:CTS) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of CTS (NYSE:CTS) from a buy rating to a hold rating in a report published on Friday.

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

CTS Price Performance

Shares of NYSE CTS opened at $52.16 on Friday. The company has a current ratio of 2.46, a quick ratio of 1.91 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.57 billion, a P/E ratio of 26.89 and a beta of 0.60. The stock has a 50 day moving average of $53.42 and a two-hundred day moving average of $50.71. CTS has a twelve month low of $40.92 and a twelve month high of $59.68.

CTS (NYSE:CTS) last announced its earnings results on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.06. The business 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 quarter last year, the company posted $0.54 EPS. On average, research analysts forecast that CTS will post 2.15 earnings per share for the current year.

CTS Dividend Announcement

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 0.31%. The ex-dividend date is Friday, December 27th. CTS’s dividend payout ratio (DPR) is 8.25%.

Insider Buying and Selling at CTS

In other news, CEO Kieran M. O’sullivan sold 6,690 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $55.83, for a total transaction of $373,502.70. Following the completion of the transaction, the chief executive officer now directly owns 375,643 shares of the company’s stock, valued at $20,972,148.69. This trade represents a 1.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have sold 59,956 shares of company stock valued at $3,331,185. Insiders own 2.00% of the company’s stock.

Institutional Trading of CTS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in CTS by 132.5% in the third quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 334 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in CTS during the second quarter worth approximately $41,000. KBC Group NV raised its stake in CTS by 58.2% during the fourth quarter. KBC Group NV now owns 1,713 shares of the electronics maker’s stock worth $90,000 after purchasing an additional 630 shares during the period. Quest Partners LLC acquired a new position in CTS in the third quarter valued at $92,000. Finally, Sei Investments Co. acquired a new stake in CTS during the second quarter worth about $263,000. Hedge funds and other 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.