CTS (NYSE:CTS) Shares Cross Above 200-Day Moving Average – Should You Sell?

CTS Co. (NYSE:CTS)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $50.56 and traded as high as $51.78. CTS shares last traded at $51.40, with a volume of 125,500 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CTS. Scotiabank cut shares of CTS from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. StockNews.com cut CTS from a “buy” rating to a “hold” rating in a report on Thursday, November 7th.

CTS Stock Down 1.0 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.46 and a quick ratio of 1.91. The company has a market capitalization of $1.55 billion, a PE ratio of 26.49 and a beta of 0.60. The business’s 50 day simple moving average is $54.23 and its 200 day simple moving average is $50.56.

CTS (NYSE:CTS) last posted its earnings results on Tuesday, October 29th. The electronics maker reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The company had revenue of $132.42 million for the quarter. CTS had a return on equity of 12.39% and a net margin of 11.66%. During the same quarter in the prior year, the firm earned $0.54 EPS. As a group, analysts anticipate that CTS Co. will post 2.15 earnings per share for the current fiscal year.

CTS Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, December 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.31%. CTS’s dividend payout ratio is currently 8.25%.

Insider Activity at CTS

In other CTS news, CEO Kieran M. O’sullivan sold 6,690 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $55.83, for a total transaction of $373,502.70. Following the sale, the chief executive officer now directly owns 375,643 shares in the company, valued at $20,972,148.69. This represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 59,956 shares of company stock worth $3,331,185. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Natixis Advisors LLC grew its stake in CTS by 11.6% during the 2nd quarter. Natixis Advisors LLC now owns 17,137 shares of the electronics maker’s stock worth $868,000 after purchasing an additional 1,779 shares in the last quarter. Choreo LLC acquired a new position in shares of CTS during the second quarter worth about $235,000. AdvisorShares Investments LLC purchased a new stake in shares of CTS during the second quarter worth approximately $513,000. American Century Companies Inc. raised its holdings in CTS by 14.2% in the second quarter. American Century Companies Inc. now owns 52,520 shares of the electronics maker’s stock valued at $2,659,000 after acquiring an additional 6,528 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in CTS by 11.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 26,607 shares of the electronics maker’s stock worth $1,347,000 after acquiring an additional 2,667 shares during the last quarter. 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.