CTS (NYSE:CTS) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

CTS Co. (NYSE:CTS)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 trading hands.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. StockNews.com cut CTS from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Scotiabank lowered CTS from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th.

CTS Price Performance

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

CTS (NYSE:CTS) last issued its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06. CTS had a return on equity of 12.39% and a net margin of 11.66%. The company had revenue of $132.42 million for the quarter. During the same period in the previous year, the business posted $0.54 EPS. As a group, equities analysts expect that CTS Co. will post 2.15 earnings per share for the current year.

CTS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, December 27th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.31%. The ex-dividend date is Friday, December 27th. CTS’s dividend payout ratio (DPR) is 8.25%.

Insider Activity

In related news, CEO Kieran M. O’sullivan sold 31,978 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $55.81, for a total value of $1,784,692.18. Following the transaction, the chief executive officer now owns 423,665 shares in the company, valued at $23,644,743.65. The trade was a 7.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 59,956 shares of company stock valued at $3,331,185. 2.30% of the stock is currently owned by company insiders.

Institutional Trading of CTS

A number of hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of CTS by 132.5% during the third quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 334 shares during the period. Canada Pension Plan Investment Board purchased a new stake in CTS in the 2nd quarter valued at approximately $41,000. Quest Partners LLC acquired a new position in CTS during the 3rd quarter worth approximately $92,000. Summit Trail Advisors LLC purchased a new position in shares of CTS during the 2nd quarter worth approximately $214,000. Finally, Choreo LLC purchased a new stake in shares of CTS in the second quarter valued at approximately $235,000. 96.87% of the stock is owned by institutional investors and hedge funds.

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.