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

StockNews.com upgraded shares of CTS (NYSE:CTS - Free Report) from a hold rating to a buy rating in a research note issued to investors on Monday.

CTS Price Performance

Shares of CTS stock traded up $0.68 during midday trading on Monday, reaching $43.94. 207,748 shares of the company traded hands, compared to its average volume of 141,291. The firm's 50 day simple moving average is $48.83 and its two-hundred day simple moving average is $50.12. The firm has a market cap of $1.32 billion, a PE ratio of 23.13 and a beta of 0.59. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.50 and a quick ratio of 1.95. CTS has a 1-year low of $41.90 and a 1-year high of $59.68.

CTS (NYSE:CTS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share (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%. On average, equities research analysts expect that CTS will post 2.28 EPS for the current fiscal year.

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CTS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.04 per share. The ex-dividend date is Friday, March 28th. This represents a $0.16 annualized dividend and a yield of 0.36%. CTS's dividend payout ratio (DPR) is currently 8.42%.

Insider Buying and Selling at CTS

In other CTS news, CEO Kieran M. O'sullivan sold 6,690 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $55.83, for a total transaction of $373,502.70. Following the completion of the transaction, the chief executive officer now owns 375,643 shares of the company's stock, valued at approximately $20,972,148.69. This trade represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.00% of the company's stock.

Institutional Trading of CTS

A number of large investors have recently made changes to their positions in the stock. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in CTS in the 3rd quarter valued at about $1,890,000. Geode Capital Management LLC raised its position in shares of CTS by 4.3% in the third 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 during the last quarter. Royce & Associates LP lifted its stake in shares of CTS by 5.4% during the third quarter. Royce & Associates LP now owns 294,513 shares of the electronics maker's stock valued at $14,249,000 after buying an additional 15,062 shares during the period. Intech Investment Management LLC acquired a new stake in CTS during the third quarter worth approximately $1,719,000. Finally, Versor Investments LP purchased a new stake in CTS in the 3rd quarter worth approximately $518,000. Institutional investors and hedge funds 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.