CTS Co. (NYSE:CTS) CFO Ashish Agrawal Sells 1,604 Shares

CTS Co. (NYSE:CTS) CFO Ashish Agrawal sold 1,604 shares of CTS stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $47.00, for a total transaction of $75,388.00. Following the sale, the chief financial officer now owns 126,373 shares of the company’s stock, valued at $5,939,531. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Wednesday, May 1st, Ashish Agrawal sold 4,495 shares of CTS stock. The stock was sold at an average price of $47.03, for a total transaction of $211,399.85.
• On Thursday, April 11th, Ashish Agrawal sold 800 shares of CTS stock. The shares were sold at an average price of $47.00, for a total transaction 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 %

CTS opened at $47.42 on Thursday. The company has a fifty day moving average of $45.18 and a two-hundred day moving average of $42.68. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 24.70 and a beta of 0.61. CTS Co. has a fifty-two week low of $35.50 and a fifty-two week high of $47.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.67 and a current ratio of 3.29.

CTS (NYSE:CTS) last posted its earnings results on Tuesday, February 6th. The electronics maker reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $124.69 million for the quarter, compared to analysts’ expectations of $124.51 million. CTS had a return on equity of 13.41% and a net margin of 11.00%. The company’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period last year, the firm earned $0.56 EPS. On average, research analysts expect that CTS Co. will post 2.3 earnings per share for the current year.

CTS Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC purchased a new stake in CTS in the 1st quarter worth $216,000. BNP Paribas Financial Markets lifted its holdings in CTS by 9.2% during the first quarter. BNP Paribas Financial Markets now owns 27,511 shares of the electronics maker’s stock valued at $1,287,000 after purchasing an additional 2,310 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of CTS by 3.1% in the first quarter. Principal Financial Group Inc. now owns 175,111 shares of the electronics maker’s stock valued at $8,193,000 after purchasing an additional 5,224 shares during the period. Azzad Asset Management Inc. ADV increased its stake in shares of CTS by 2.2% during the first quarter. Azzad Asset Management Inc. ADV now owns 11,364 shares of the electronics maker’s stock worth $532,000 after purchasing an additional 249 shares in the last quarter. Finally, Wasatch Advisors LP increased its stake in shares of CTS by 160.3% during the first quarter. Wasatch Advisors LP now owns 963,954 shares of the electronics maker’s stock worth $45,103,000 after purchasing an additional 593,641 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Analyst Ratings Changes

CTS has been the topic of several analyst reports. TD Cowen raised their target price on CTS from $38.00 to $46.00 and gave the stock a “market perform” rating in a report on Wednesday, February 7th. Sidoti lowered CTS from a “buy” rating to a “neutral” rating and set a $46.00 price objective on the stock. in a research report on Wednesday, February 7th.

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.