CTS (NYSE:CTS) Upgraded to “Buy” at StockNews.com

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

CTS Price Performance

Shares of NYSE CTS opened at $42.68 on Monday. The firm has a market capitalization of $1.28 billion, a P/E ratio of 22.46 and a beta of 0.59. The firm’s 50-day moving average price is $49.47 and its 200-day moving average price is $50.25. The company has a current ratio of 2.50, a quick ratio of 1.95 and a debt-to-equity ratio of 0.17. CTS has a 1-year low of $42.48 and a 1-year high of $59.68.

CTS (NYSE:CTS) last posted its quarterly 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 return on equity of 12.67% and a net margin of 11.27%. Equities research analysts anticipate that CTS will post 2.28 earnings per share for the current fiscal year.

CTS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, March 28th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Friday, March 28th. CTS’s payout ratio is presently 8.42%.

Insider Activity at CTS

In related news, CEO Kieran M. O’sullivan sold 12,794 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $55.50, for a total transaction of $710,067.00. Following the completion of the sale, the chief executive officer now owns 400,456 shares in the company, valued at approximately $22,225,308. This represents a 3.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 27,978 shares of company stock valued at $1,546,493. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CTS

Hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP lifted its position in shares of CTS by 23.1% during the third quarter. Wasatch Advisors LP now owns 1,993,863 shares of the electronics maker’s stock valued at $96,463,000 after purchasing an additional 374,104 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in CTS in the 4th quarter valued at about $15,852,000. Weiss Asset Management LP bought a new position in shares of CTS during the 3rd quarter worth approximately $4,960,000. Norges Bank purchased a new position in shares of CTS in the 4th quarter worth approximately $4,439,000. Finally, T. Rowe Price Investment Management Inc. grew its holdings in shares of CTS by 3.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,218,002 shares of the electronics maker’s stock valued at $116,956,000 after acquiring an additional 73,435 shares in the last quarter. 96.87% of the stock is 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.