CTS (NYSE:CTS) Rating Lowered to “Hold” at StockNews.com

CTS (NYSE:CTS) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

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

CTS Stock Up 0.1 %

Shares of CTS stock opened at $46.52 on Friday. CTS has a 1 year low of $42.63 and a 1 year high of $59.68. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 24.48 and a beta of 0.59. The company has a 50-day moving average of $52.50 and a 200 day moving average of $50.45. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.50 and a quick ratio of 1.91.

CTS (NYSE:CTS) last announced its earnings results on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). CTS had a net margin of 11.27% and a return on equity of 12.67%. As a group, sell-side analysts anticipate that CTS will post 2.28 earnings per share for the current fiscal year.

Insider Transactions at CTS

In related news, CEO Kieran M. O’sullivan sold 8,494 shares of CTS stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $54.50, for a total value of $462,923.00. Following the completion of the sale, the chief executive officer now directly owns 382,333 shares in the company, valued at approximately $20,837,148.50. This trade represents a 2.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 59,956 shares of company stock worth $3,331,185. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On CTS

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of CTS during the third quarter valued at approximately $1,890,000. Geode Capital Management LLC grew its position in CTS by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 806,180 shares of the electronics maker’s stock worth $39,010,000 after purchasing an additional 33,449 shares during the period. Royce & Associates LP raised its stake in CTS by 5.4% during the 3rd quarter. Royce & Associates LP now owns 294,513 shares of the electronics maker’s stock valued at $14,249,000 after buying an additional 15,062 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of CTS during the 3rd quarter valued at $1,719,000. Finally, Versor Investments LP purchased a new position in shares of CTS in the 3rd quarter worth $518,000. 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.