StockNews.com upgraded shares of CTS (NYSE:CTS – Free Report) from a hold rating to a buy rating in a report published on Saturday.
Separately, Scotiabank cut shares of CTS from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th.
Read Our Latest Analysis on CTS
CTS Trading Down 3.7 %
NYSE:CTS opened at $49.21 on Friday. The company has a 50 day simple moving average of $53.21 and a two-hundred day simple moving average of $50.65. The company has a market cap of $1.48 billion, a PE ratio of 25.37 and a beta of 0.59. CTS has a 12 month low of $40.96 and a 12 month high of $59.68. The company has a current ratio of 2.46, a quick ratio of 1.91 and a debt-to-equity ratio of 0.19.
CTS Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, December 27th were issued a $0.04 dividend. The ex-dividend date was Friday, December 27th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.33%. CTS’s dividend payout ratio (DPR) is presently 8.25%.
Insider Transactions at CTS
In related news, CEO Kieran M. O’sullivan sold 6,690 shares of the company’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 transaction, the chief executive officer now directly owns 375,643 shares in the company, valued at approximately $20,972,148.69. This represents a 1.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 59,956 shares of company stock worth $3,331,185 in the last three months. Insiders own 2.30% of the company’s stock.
Institutional Investors Weigh In On CTS
Hedge funds have recently modified their holdings of the business. Wasatch Advisors LP grew its position in 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 buying an additional 374,104 shares during the period. Weiss Asset Management LP purchased a new position in shares of CTS in the third quarter worth about $4,960,000. Allspring Global Investments Holdings LLC raised its stake in CTS by 252.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 65,174 shares of the electronics maker’s stock worth $3,437,000 after purchasing an additional 46,686 shares during the period. Barclays PLC raised its stake in CTS by 256.1% during the third quarter. Barclays PLC now owns 57,238 shares of the electronics maker’s stock worth $2,769,000 after purchasing an additional 41,164 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in CTS during the third quarter worth about $1,890,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.
About CTS
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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.
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