CTS Co. (NYSE:CTS) CFO Ashish Agrawal Sells 4,495 Shares

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

Shares of CTS stock opened at $47.42 on Thursday. 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 Co. has a fifty-two week low of $35.50 and a fifty-two week high of $47.96. The firm has a market cap of $1.46 billion, a P/E ratio of 24.70 and a beta of 0.61. The business’s 50 day moving average price is $45.18 and its 200-day moving average price is $42.68.

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

CTS Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently commented on CTS shares. Sidoti lowered shares of CTS from a “buy” rating to a “neutral” rating and set a $46.00 price target for the company. in a report on Wednesday, February 7th. TD Cowen upped their price objective 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.

Hedge Funds Weigh In On CTS

Institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC boosted its position in CTS by 245.5% during the 4th quarter. Parallel Advisors LLC now owns 577 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 410 shares in the last quarter. Quadrant Capital Group LLC raised its position 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 worth $72,000 after acquiring an additional 336 shares in the last quarter. Handelsbanken Fonder AB purchased a new position in shares of CTS in the 4th quarter valued at approximately $209,000. Perpetual Ltd bought a new stake in shares of CTS during the first quarter valued at approximately $211,000. Finally, Janney Montgomery Scott LLC purchased a new stake in CTS in the first quarter worth $216,000. 96.87% of the stock is owned by institutional investors.

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.