CTS (NYSE:CTS) Shares Cross Above 200-Day Moving Average - Here's What Happened

CTS Corporation (NYSE:CTS - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $44.11 and traded as high as $44.32. CTS shares last traded at $43.03, with a volume of 167,534 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of CTS from a "buy" rating to a "hold" rating in a research note on Friday, May 30th.

CTS Price Performance

The stock has a 50-day moving average price of $41.71 and a 200 day moving average price of $44.04. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.63 and a quick ratio of 2.05. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 21.88 and a beta of 0.80.

CTS (NYSE:CTS - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The electronics maker reported $0.44 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.05). CTS had a net margin of 11.70% and a return on equity of 12.32%. The business had revenue of $125.77 million during the quarter, compared to analysts' expectations of $128.72 million. As a group, equities research analysts forecast that CTS Corporation will post 2.28 earnings per share for the current fiscal year.

CTS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, June 27th will be given a dividend of $0.04 per share. The ex-dividend date is Friday, June 27th. This represents a $0.16 dividend on an annualized basis and a yield of 0.37%. CTS's payout ratio is 8.08%.

Institutional Trading of CTS

A number of hedge funds have recently added to or reduced their stakes in CTS. Aristides Capital LLC boosted its holdings in shares of CTS by 35.3% in the fourth quarter. Aristides Capital LLC now owns 5,805 shares of the electronics maker's stock valued at $306,000 after acquiring an additional 1,513 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in CTS by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,119 shares of the electronics maker's stock worth $903,000 after acquiring an additional 651 shares during the period. Deutsche Bank AG grew its holdings in CTS by 50.9% during the fourth quarter. Deutsche Bank AG now owns 25,478 shares of the electronics maker's stock worth $1,343,000 after acquiring an additional 8,598 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in CTS by 11.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,154 shares of the electronics maker's stock worth $3,330,000 after acquiring an additional 6,269 shares during the period. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in CTS during the fourth quarter worth $202,000. 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.