CTS (NYSE:CTS) Upgraded at StockNews.com

StockNews.com upgraded shares of CTS (NYSE:CTS) from a hold rating to a buy rating in a research note published on Saturday.

Separately, Scotiabank cut CTS from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th.

CTS Stock Down 3.7 %

CTS stock opened at $49.21 on Friday. The business has a fifty day moving average of $53.21 and a two-hundred day moving average of $50.65. 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 firm has a market cap of $1.48 billion, a P/E ratio of 25.37 and a beta of 0.59. CTS has a twelve month low of $40.96 and a twelve month high of $59.68.

CTS Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, December 27th were issued a dividend of $0.04 per share. The ex-dividend date was Friday, December 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.33%. CTS’s payout ratio is 8.25%.

Insiders Place Their Bets

In related news, CEO Kieran M. O’sullivan sold 12,794 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were 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 directly owns 400,456 shares of the company’s stock, valued at $22,225,308. This represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 59,956 shares of company stock worth $3,331,185 in the last quarter. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of CTS

Several large investors have recently modified their holdings of the company. GAMMA Investing LLC increased its position in CTS by 132.5% in the 3rd quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 334 shares in the last quarter. KBC Group NV boosted its stake in CTS by 58.2% during the 4th quarter. KBC Group NV now owns 1,713 shares of the electronics maker’s stock worth $90,000 after acquiring an additional 630 shares during the last quarter. Quest Partners LLC bought a new position in CTS during the 3rd quarter worth approximately $92,000. Atria Wealth Solutions Inc. bought a new position in CTS during the 4th quarter worth approximately $214,000. Finally, Sei Investments Co. bought a new position in CTS in the second quarter valued at approximately $263,000. 96.87% of the stock is owned by institutional investors.

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.