CTS (NYSE:CTS) Share Price Crosses Above Two Hundred Day Moving Average of $45.87

CTS Co. (NYSE:CTS)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $45.87 and traded as high as $51.55. CTS shares last traded at $50.98, with a volume of 130,361 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com cut shares of CTS from a “buy” rating to a “hold” rating in a report on Thursday, June 6th.

CTS Trading Up 0.0 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 3.32 and a quick ratio of 2.71. The business’s 50 day moving average price is $50.09 and its 200-day moving average price is $45.87. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 29.99 and a beta of 0.60.

CTS (NYSE:CTS) last issued its quarterly earnings results on Wednesday, May 1st. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. CTS had a net margin of 10.06% and a return on equity of 12.39%. The business had revenue of $125.70 million for the quarter, compared to analyst estimates of $126.75 million. During the same period in the previous year, the business posted $0.61 earnings per share. The business’s revenue was down 13.9% compared to the same quarter last year. Equities analysts forecast that CTS Co. will post 2.25 EPS for the current fiscal year.

CTS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 28th will be given a dividend of $0.04 per share. The ex-dividend date is Friday, June 28th. This represents a $0.16 annualized dividend and a yield of 0.31%. CTS’s payout ratio is currently 9.41%.

Insiders Place Their Bets

In other CTS news, CFO Ashish Agrawal sold 800 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $47.00, for a total value of $37,600.00. Following the sale, the chief financial officer now owns 127,977 shares of the company’s stock, valued at $6,014,919. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CTS news, CFO Ashish Agrawal sold 800 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $47.00, for a total value of $37,600.00. Following the sale, the chief financial officer now owns 127,977 shares of the company’s stock, valued at $6,014,919. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kieran M. O’sullivan sold 2,064 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $47.00, for a total transaction of $97,008.00. Following the completion of the sale, the chief executive officer now directly owns 499,498 shares in the company, valued at approximately $23,476,406. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,335 shares of company stock worth $3,248,248. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On CTS

Institutional investors and hedge funds have recently modified their holdings of the company. Pitcairn Co. raised its stake in CTS by 3.2% during the first quarter. Pitcairn Co. now owns 7,096 shares of the electronics maker’s stock worth $332,000 after purchasing an additional 222 shares during the period. Azzad Asset Management Inc. ADV raised its stake in 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 during the period. SummerHaven Investment Management LLC raised its stake in CTS by 1.5% during the fourth quarter. SummerHaven Investment Management LLC now owns 17,022 shares of the electronics maker’s stock worth $745,000 after purchasing an additional 255 shares during the period. Quadrant Capital Group LLC raised its stake in CTS by 25.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock worth $72,000 after purchasing an additional 336 shares during the period. Finally, Texas Permanent School Fund Corp raised its stake in CTS by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 27,269 shares of the electronics maker’s stock worth $1,276,000 after purchasing an additional 352 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

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.