Sensata Technologies (NYSE:ST) Shares Gap Up on Better-Than-Expected Earnings

Sensata Technologies Holding plc (NYSE:ST)’s stock price gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $35.76, but opened at $42.82. Sensata Technologies shares last traded at $39.99, with a volume of 3,391,847 shares.

The scientific and technical instruments company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.03. Sensata Technologies had a negative net margin of 0.10% and a positive return on equity of 17.47%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $986.51 million. During the same period in the previous year, the company posted $0.92 EPS. Sensata Technologies’s revenue was up .9% compared to the same quarter last year.

Sensata Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be given a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.25%. Sensata Technologies’s payout ratio is currently -959.81%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ST. Jefferies Financial Group initiated coverage on Sensata Technologies in a report on Tuesday, April 9th. They issued a “hold” rating and a $40.00 target price for the company. Stifel Nicolaus increased their price target on shares of Sensata Technologies from $36.00 to $43.00 and gave the company a “hold” rating in a report on Tuesday. Truist Financial boosted their price objective on shares of Sensata Technologies from $36.00 to $46.00 and gave the stock a “hold” rating in a report on Tuesday. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $36.00 target price (down from $44.00) on shares of Sensata Technologies in a report on Tuesday, April 9th. Finally, Evercore ISI boosted their price target on Sensata Technologies from $36.00 to $44.00 and gave the stock an “in-line” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $42.00.

Institutional Investors Weigh In On Sensata Technologies

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Sensata Technologies by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 14,910,505 shares of the scientific and technical instruments company’s stock valued at $560,188,000 after acquiring an additional 69,837 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Sensata Technologies by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,084,921 shares of the scientific and technical instruments company’s stock valued at $192,312,000 after acquiring an additional 62,468 shares in the last quarter. Shapiro Capital Management LLC boosted its stake in Sensata Technologies by 4.5% during the 3rd quarter. Shapiro Capital Management LLC now owns 4,358,416 shares of the scientific and technical instruments company’s stock valued at $164,835,000 after acquiring an additional 186,627 shares during the last quarter. Kodai Capital Management LP acquired a new position in Sensata Technologies during the 4th quarter worth $133,156,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Sensata Technologies by 15.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,415,576 shares of the scientific and technical instruments company’s stock valued at $128,325,000 after purchasing an additional 455,237 shares in the last quarter. 99.42% of the stock is owned by institutional investors and hedge funds.

Sensata Technologies Trading Up 7.0 %

The firm has a market cap of $5.76 billion, a price-to-earnings ratio of -765.45, a price-to-earnings-growth ratio of 0.85 and a beta of 1.37. The business’s 50 day moving average price is $35.19 and its 200-day moving average price is $34.66. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.69 and a current ratio of 2.55.

Sensata Technologies Company Profile

Sensata Technologies Holding plc develops, manufactures, and sells sensors and sensor-rich solutions, electrical protection components and systems, and other products used in mission-critical systems and applications in the United States and internationally. It operates in two segments, Performance Sensing and Sensing Solutions.