Gamco Investors INC. ET AL Sells 37,340 Shares of CTS Co. (NYSE:CTS)

Posted by Defense World Staff on Feb 25th, 2023

Gamco Investors INC. ET AL decreased its position in CTS Co. (NYSE:CTS – Get Rating) by 2.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,435,178 shares of the electronics maker’s stock after selling 37,340 shares during the period. CTS comprises 0.7% of Gamco Investors INC. ET AL’s portfolio, making the stock its 26th biggest position. Gamco Investors INC. ET AL owned about 4.50% of CTS worth $59,775,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CTS. American Century Companies Inc. bought a new stake in CTS in the 1st quarter valued at approximately $870,000. US Bancorp DE lifted its stake in CTS by 26.5% in the 1st quarter. US Bancorp DE now owns 19,400 shares of the electronics maker’s stock valued at $686,000 after acquiring an additional 4,064 shares in the last quarter. HighTower Advisors LLC bought a new stake in CTS in the 1st quarter valued at approximately $241,000. Citigroup Inc. lifted its stake in CTS by 8.1% in the 1st quarter. Citigroup Inc. now owns 41,152 shares of the electronics maker’s stock valued at $1,453,000 after acquiring an additional 3,101 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of CTS by 36.8% during the 1st quarter. MetLife Investment Management LLC now owns 16,890 shares of the electronics maker’s stock worth $597,000 after purchasing an additional 4,539 shares in the last quarter. Institutional investors own 95.61% of the company’s stock.

CTS Stock Down 0.8 %

CTS stock opened at $43.43 on Friday. The company has a current ratio of 2.89, a quick ratio of 2.34 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.38 billion, a PE ratio of 23.35 and a beta of 0.73. CTS Co. has a 1-year low of $31.90 and a 1-year high of $48.18. The business’s 50 day simple moving average is $43.42 and its 200 day simple moving average is $42.38.

CTS (NYSE:CTS – Get Rating) last posted its earnings results on Tuesday, February 7th. The electronics maker reported $0.56 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.56. The business had revenue of $142.28 million for the quarter, compared to analyst estimates of $148.56 million. CTS had a return on equity of 16.14% and a net margin of 10.15%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.49 EPS. As a group, research analysts anticipate that CTS Co. will post 2.55 EPS for the current year.

CTS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, March 31st will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Thursday, March 30th. CTS’s dividend payout ratio is 8.60%.

Insider Buying and Selling at CTS

In other CTS news, CEO Kieran M. O’sullivan sold 15,979 shares of the company’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $47.00, for a total value of $751,013.00. Following the transaction, the chief executive officer now directly owns 481,807 shares of the company’s stock, valued at approximately $22,644,929. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Kieran M. O’sullivan sold 2,746 shares of the company’s stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $47.00, for a total transaction of $129,062.00. Following the completion of the sale, the chief executive officer now directly owns 498,035 shares in the company, valued at approximately $23,407,645. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Kieran M. O’sullivan sold 15,979 shares of the company’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $47.00, for a total value of $751,013.00. Following the sale, the chief executive officer now owns 481,807 shares of the company’s stock, valued at $22,644,929. The disclosure for this sale can be found here. Insiders have sold a total of 18,759 shares of company stock valued at $881,673 in the last ninety days. 2.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CTS shares. Stephens reiterated an “equal weight” rating and set a $41.00 price objective on shares of CTS in a research note on Wednesday, February 8th. StockNews.com cut CTS from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 8th. Finally, Jefferies Financial Group initiated coverage on CTS in a research note on Tuesday, November 22nd. They set a “hold” rating and a $44.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.50.

CTS Company Profile

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CTS Corp. engages in the design and manufacture of sensors, connectivity components, and actuators. Its products include controls, pedals, piezo sensing products, sensors, switches, transducers, electromagnetic and radio frequency interference filters, capacitors, frequency control, resistors, piezo microactuators, and rotary microactuators.