CTS (NYSE:CTS) Shares Gap Up After Strong Earnings

Shares of CTS Corporation (NYSE:CTS - Get Free Report) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $40.44, but opened at $43.00. CTS shares last traded at $41.48, with a volume of 88,907 shares traded.

The electronics maker reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.02. The business had revenue of $135.30 million during the quarter, compared to the consensus estimate of $132.65 million. CTS had a return on equity of 12.31% and a net margin of 12.32%. During the same quarter in the previous year, the business earned $0.54 earnings per share.

CTS Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, June 27th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date was Friday, June 27th. CTS's dividend payout ratio (DPR) is presently 7.55%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised CTS from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th.

Institutional Trading of CTS

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. raised its position in shares of CTS by 17.3% during the 1st quarter. Pacer Advisors Inc. now owns 2,863 shares of the electronics maker's stock worth $119,000 after purchasing an additional 422 shares during the period. Aristides Capital LLC boosted its stake in CTS by 7.8% during the 1st quarter. Aristides Capital LLC now owns 6,255 shares of the electronics maker's stock valued at $260,000 after purchasing an additional 450 shares in the last quarter. Bank of Montreal Can boosted its stake in CTS by 7.0% during the 4th quarter. Bank of Montreal Can now owns 6,995 shares of the electronics maker's stock valued at $369,000 after purchasing an additional 458 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in CTS by 2.6% during the 1st quarter. Russell Investments Group Ltd. now owns 21,199 shares of the electronics maker's stock valued at $881,000 after purchasing an additional 544 shares in the last quarter. Finally, Quarry LP boosted its stake in CTS by 572.4% during the 4th quarter. Quarry LP now owns 659 shares of the electronics maker's stock valued at $35,000 after purchasing an additional 561 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

CTS Trading Up 0.4%

The firm has a market capitalization of $1.24 billion, a P/E ratio of 19.62 and a beta of 0.80. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.04 and a current ratio of 2.61. The firm has a 50 day moving average price of $41.94 and a two-hundred day moving average price of $42.97.

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.