CTS Co. (NYSE:CTS) CFO Ashish Agrawal Sells 800 Shares of Stock

CTS Co. (NYSE:CTS) CFO Ashish Agrawal sold 800 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $47.00, for a total transaction of $37,600.00. Following the completion of the sale, the chief financial officer now owns 127,977 shares of the company’s stock, valued at approximately $6,014,919. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 transaction of $212,138.40.

CTS Price Performance

CTS opened at $45.46 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.67 and a current ratio of 3.29. The firm has a market cap of $1.40 billion, a P/E ratio of 23.68 and a beta of 0.61. CTS Co. has a fifty-two week low of $35.50 and a fifty-two week high of $47.90. The firm has a 50-day moving average of $45.17 and a 200 day moving average of $42.38.

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

CTS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.16 dividend on an annualized basis and a yield of 0.35%. CTS’s dividend payout ratio is presently 8.33%.

Hedge Funds Weigh In On CTS

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTS. American Century Companies Inc. bought a new position in CTS during the first quarter worth about $870,000. US Bancorp DE boosted its position in shares of CTS by 26.5% in the first quarter. US Bancorp DE now owns 19,400 shares of the electronics maker’s stock valued at $686,000 after acquiring an additional 4,064 shares during the period. HighTower Advisors LLC bought a new position in shares of CTS in the first quarter valued at approximately $241,000. Citigroup Inc. boosted its position in shares of CTS by 8.1% in the first quarter. Citigroup Inc. now owns 41,152 shares of the electronics maker’s stock valued at $1,453,000 after acquiring an additional 3,101 shares during the period. Finally, MetLife Investment Management LLC boosted its position in shares of CTS by 36.8% in the first quarter. MetLife Investment Management LLC now owns 16,890 shares of the electronics maker’s stock valued at $597,000 after acquiring an additional 4,539 shares during the period. Institutional investors own 96.87% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CTS. TD Cowen increased their price target on shares of CTS from $38.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, February 7th. 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 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.