CTS (NYSE:CTS) Stock Passes Above 200 Day Moving Average - What's Next?

CTS Co. (NYSE:CTS - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-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.

Wall Street Analysts Forecast Growth

CTS has been the topic of a number of recent research reports. StockNews.com downgraded CTS from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. Scotiabank downgraded CTS from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 25th.

CTS Stock Down 1.0 %

The firm has a 50-day moving average of $54.28 and a two-hundred day moving average of $50.57. The company has a quick ratio of 1.91, a current ratio of 2.46 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $1.55 billion, a PE ratio of 26.49 and a beta of 0.60.

CTS (NYSE:CTS - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.63 EPS for the quarter, topping the consensus estimate of $0.57 by $0.06. CTS had a net margin of 11.66% and a return on equity of 12.39%. The company had revenue of $132.42 million during the quarter. During the same quarter last year, the firm earned $0.54 EPS. Equities research analysts predict that CTS Co. will post 2.15 earnings per share for the current fiscal year.

CTS Dividend Announcement

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

Insider Activity

In related news, CEO Kieran M. O'sullivan sold 12,794 shares of CTS stock in a transaction dated 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 trade represents a 3.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 59,956 shares of company stock valued at $3,331,185 in the last three months. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CTS

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wasatch Advisors LP boosted its holdings in CTS by 23.1% in 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 during the last quarter. Weiss Asset Management LP purchased a new position in shares of CTS during the 3rd quarter valued at approximately $4,960,000. Marshall Wace LLP acquired a new stake in shares of CTS during the second quarter worth approximately $2,662,000. Earnest Partners LLC increased its stake in shares of CTS by 3.0% in the second quarter. Earnest Partners LLC now owns 1,735,534 shares of the electronics maker's stock worth $87,870,000 after buying an additional 50,632 shares during the last quarter. Finally, Barclays PLC raised its holdings in CTS by 256.1% in the third quarter. Barclays PLC now owns 57,238 shares of the electronics maker's stock valued at $2,769,000 after acquiring an additional 41,164 shares in the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

CTS Company Profile

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.