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

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

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

CTS Price Performance

Shares of CTS stock opened at $46.52 on Friday. The stock has a market cap of $1.40 billion, a P/E ratio of 24.48 and a beta of 0.59. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.91 and a current ratio of 2.50. The stock’s fifty day moving average is $52.50 and its 200 day moving average is $50.45. CTS has a one year low of $42.63 and a one year high of $59.68.

CTS (NYSE:CTS) last posted its quarterly earnings data on Tuesday, February 4th. The electronics maker reported $0.53 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.06). CTS had a return on equity of 12.67% and a net margin of 11.27%. Sell-side analysts anticipate that CTS will post 2.28 earnings per share for the current year.

Insider Transactions at CTS

In other CTS news, CEO Kieran M. O’sullivan sold 12,794 shares of CTS stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $55.50, for a total value of $710,067.00. Following the sale, the chief executive officer now directly owns 400,456 shares in the company, valued at approximately $22,225,308. The trade was a 3.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 59,956 shares of company stock valued at $3,331,185 over the last 90 days. Company insiders own 2.00% 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 stock. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of CTS in the third quarter worth about $1,890,000. Geode Capital Management LLC grew its holdings in CTS by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 806,180 shares of the electronics maker’s stock valued at $39,010,000 after buying an additional 33,449 shares in the last quarter. Royce & Associates LP increased its stake in CTS by 5.4% in the 3rd quarter. Royce & Associates LP now owns 294,513 shares of the electronics maker’s stock worth $14,249,000 after acquiring an additional 15,062 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of CTS during the 3rd quarter worth approximately $1,719,000. Finally, Versor Investments LP bought a new position in shares of CTS during the 3rd quarter valued at approximately $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.