CTS (NYSE:CTS) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of CTS (NYSE:CTS) from a hold rating to a buy rating in a research note published on Thursday.

CTS Stock Performance

Shares of NYSE:CTS opened at $50.34 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.71 and a current ratio of 3.32. The firm has a market cap of $1.55 billion, a PE ratio of 29.61 and a beta of 0.60. The firm’s 50 day simple moving average is $50.69 and its 200-day simple moving average is $46.23. CTS has a one year low of $35.50 and a one year high of $54.73.

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

CTS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be given a $0.04 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.16 annualized dividend and a dividend yield of 0.32%. CTS’s payout ratio is presently 9.41%.

Insider Activity

In other CTS news, SVP Martin Baumeister sold 5,733 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $52.39, for a total transaction of $300,351.87. Following the completion of the sale, the senior vice president now owns 19,811 shares in the company, valued at $1,037,898.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Kieran M. O’sullivan sold 2,064 shares of the stock in a transaction that occurred on 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 owns 499,498 shares of the company’s stock, valued at $23,476,406. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Martin Baumeister sold 5,733 shares of CTS stock in a transaction on Friday, May 24th. The stock was sold at an average price of $52.39, for a total transaction of $300,351.87. Following the completion of the transaction, the senior vice president now directly owns 19,811 shares in the company, valued at $1,037,898.29. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,855 shares of company stock worth $2,330,290. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of CTS by 1.2% during the first quarter. Vanguard Group Inc. now owns 2,805,735 shares of the electronics maker’s stock valued at $131,280,000 after acquiring an additional 33,636 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of CTS by 7.6% in the fourth quarter. Wellington Management Group LLP now owns 1,344,017 shares of the electronics maker’s stock worth $58,787,000 after buying an additional 94,901 shares during the last quarter. Fiduciary Management Inc. WI lifted its stake in shares of CTS by 4.2% during the fourth quarter. Fiduciary Management Inc. WI now owns 1,187,171 shares of the electronics maker’s stock worth $51,927,000 after buying an additional 47,730 shares during the period. Wasatch Advisors LP grew its holdings 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 valued at $45,103,000 after buying an additional 593,641 shares during the last quarter. Finally, London Co. of Virginia increased its position in shares of CTS by 1.1% in the 3rd quarter. London Co. of Virginia now owns 522,850 shares of the electronics maker’s stock valued at $21,824,000 after acquiring an additional 5,492 shares during the period. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

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.