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 Monday morning.

CTS Stock Performance

Shares of NYSE CTS opened at $43.37 on Monday. The firm has a fifty day moving average price of $49.05 and a 200-day moving average price of $50.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.50 and a quick ratio of 1.95. The stock has a market cap of $1.30 billion, a PE ratio of 22.82 and a beta of 0.59. CTS has a 1 year low of $41.90 and a 1 year high of $59.68.

CTS (NYSE:CTS) last announced its quarterly earnings data on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). CTS had a return on equity of 12.67% and a net margin of 11.27%. Equities analysts anticipate that CTS will post 2.28 earnings per share for the current fiscal year.

CTS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, March 28th will be paid a dividend of $0.04 per share. The ex-dividend date is Friday, March 28th. This represents a $0.16 annualized dividend and a yield of 0.37%. CTS’s payout ratio is 8.42%.

Insider Activity at CTS

In related news, CEO Kieran M. O’sullivan sold 6,690 shares of the firm’s stock in a transaction 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 approximately $20,972,148.69. This trade represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CTS

Several institutional investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. grew its stake in CTS by 1.2% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 26,646 shares of the electronics maker’s stock valued at $1,405,000 after acquiring an additional 328 shares in the last quarter. Bank of Montreal Can grew its stake in shares of CTS by 7.0% in the 4th quarter. Bank of Montreal Can now owns 6,995 shares of the electronics maker’s stock worth $369,000 after buying an additional 458 shares in the last quarter. Handelsbanken Fonder AB grew its stake in shares of CTS by 7.0% in the 4th quarter. Handelsbanken Fonder AB now owns 7,685 shares of the electronics maker’s stock worth $405,000 after buying an additional 500 shares in the last quarter. Quarry LP grew its stake in shares of CTS by 572.4% in the 4th quarter. Quarry LP now owns 659 shares of the electronics maker’s stock worth $35,000 after buying an additional 561 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of CTS by 58.2% in the 4th quarter. KBC Group NV now owns 1,713 shares of the electronics maker’s stock worth $90,000 after buying an additional 630 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

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.