Ashish Agrawal Sells 1,604 Shares of CTS Co. (NYSE:CTS) Stock

CTS Co. (NYSE:CTS - Get Free Report) CFO Ashish Agrawal sold 1,604 shares of the business's stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $47.00, for a total value of $75,388.00. Following the sale, the chief financial officer now owns 126,373 shares in the company, valued at approximately $5,939,531. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ashish Agrawal also recently made the following trade(s):

• On Wednesday, May 1st, Ashish Agrawal sold 4,495 shares of CTS stock. The stock was sold at an average price of $47.03, for a total transaction of $211,399.85.
• On Thursday, April 11th, Ashish Agrawal sold 800 shares of CTS stock. The stock was sold at an average price of $47.00, for a total transaction of $37,600.00.
• On Thursday, March 28th, Ashish Agrawal sold 4,504 shares of CTS stock. The shares were sold at an average price of $47.10, for a total value of $212,138.40.

CTS Price Performance

Shares of CTS stock traded up $1.67 on Wednesday, reaching $47.42. The company's stock had a trading volume of 265,377 shares, compared to its average volume of 149,527. The company has a quick ratio of 2.67, a current ratio of 3.29 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $45.13 and a 200-day moving average price of $42.64. The company has a market capitalization of $1.46 billion, a P/E ratio of 24.40 and a beta of 0.61. CTS Co. has a 52-week low of $35.50 and a 52-week high of $47.96.

CTS (NYSE:CTS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. CTS had a return on equity of 13.41% and a net margin of 11.00%. The company had revenue of $124.69 million for the quarter, compared to analysts' expectations of $124.51 million. During the same period in the previous year, the firm posted $0.56 EPS. CTS's revenue was down 12.4% compared to the same quarter last year. Analysts expect that CTS Co. will post 2.3 EPS for the current year.

CTS Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Thursday, March 28th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Wednesday, March 27th. CTS's dividend payout ratio is currently 8.33%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. TD Cowen increased their price objective on shares of CTS from $38.00 to $46.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 7th. Sidoti downgraded CTS from a "buy" rating to a "neutral" rating and set a $46.00 target price on the stock. in a research note on Wednesday, February 7th.

Hedge Funds Weigh In On CTS

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC grew its holdings in CTS by 245.5% in the 4th quarter. Parallel Advisors LLC now owns 577 shares of the electronics maker's stock valued at $25,000 after buying an additional 410 shares in the last quarter. Quadrant Capital Group LLC raised its stake in CTS by 25.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker's stock worth $72,000 after purchasing an additional 336 shares during the period. Handelsbanken Fonder AB acquired a new position in CTS in the 4th quarter valued at about $209,000. Perpetual Ltd purchased a new stake in shares of CTS in the 1st quarter valued at approximately $211,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of CTS during the 4th quarter worth approximately $269,000. 96.87% of the stock is currently 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.

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