CTS (NYSE:CTS) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of CTS (NYSE:CTS) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

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

CTS Trading Up 1.2 %

CTS stock opened at $52.16 on Friday. The business’s 50-day simple moving average is $53.42 and its 200-day simple moving average is $50.69. CTS has a 52 week low of $40.92 and a 52 week high of $59.68. The firm has a market capitalization of $1.57 billion, a PE ratio of 26.89 and a beta of 0.60. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.91 and a current ratio of 2.46.

CTS (NYSE:CTS) last announced its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06. The business had revenue of $132.42 million for the quarter. CTS had a net margin of 11.66% and a return on equity of 12.39%. During the same quarter in the previous year, the business posted $0.54 EPS. Equities research analysts forecast that CTS will post 2.15 earnings per share for the current year.

CTS Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, December 27th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Friday, December 27th. CTS’s payout ratio is 8.25%.

Insider Buying and Selling

In other news, CEO Kieran M. O’sullivan sold 31,978 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $55.81, for a total transaction of $1,784,692.18. Following the sale, the chief executive officer now owns 423,665 shares in the company, valued at approximately $23,644,743.65. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 59,956 shares of company stock worth $3,331,185 in the last quarter. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTS. Trust Point Inc. boosted its holdings in CTS by 2.1% during the third quarter. Trust Point Inc. now owns 12,861 shares of the electronics maker’s stock worth $622,000 after buying an additional 270 shares during the last quarter. AQR Capital Management LLC raised its position in shares of CTS by 5.8% in the 2nd quarter. AQR Capital Management LLC now owns 5,637 shares of the electronics maker’s stock valued at $285,000 after acquiring an additional 308 shares during the period. GAMMA Investing LLC boosted its stake in CTS by 132.5% during the 3rd quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 334 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in CTS by 3.0% during the second quarter. The Manufacturers Life Insurance Company now owns 15,372 shares of the electronics maker’s stock valued at $778,000 after purchasing an additional 444 shares during the period. Finally, KBC Group NV increased its stake in CTS by 58.2% in the fourth quarter. KBC Group NV now owns 1,713 shares of the electronics maker’s stock valued at $90,000 after purchasing an additional 630 shares in the last quarter. Institutional investors and hedge funds 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.