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

Sensata Technologies Holding plc (NYSE:ST) shares gapped up before the market opened on Tuesday following a stronger than expected earnings report. 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 traded.

The scientific and technical instruments company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. Sensata Technologies had a negative net margin of 0.35% and a positive return on equity of 17.35%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $986.51 million. During the same quarter in the previous year, the company earned $0.92 earnings per share. The business’s revenue was up .9% compared to the same quarter last year.

Sensata Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Tuesday, May 7th. Sensata Technologies’s dividend payout ratio is -436.32%.

Analysts Set New Price Targets

Several research firms recently commented on ST. Oppenheimer upgraded Sensata Technologies from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research report on Tuesday, January 30th. Truist Financial lifted their price objective on Sensata Technologies from $36.00 to $46.00 and gave the company a “hold” rating in a report on Tuesday. Bank of America lowered shares of Sensata Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $46.00 to $38.00 in a report on Wednesday, February 7th. Jefferies Financial Group began coverage on shares of Sensata Technologies in a research report on Tuesday, April 9th. They set a “hold” rating and a $40.00 target price for the company. Finally, Robert W. Baird boosted their price target on shares of Sensata Technologies from $37.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.00.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Cary Street Partners Investment Advisory LLC raised its holdings in Sensata Technologies by 1,389.8% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 730 shares of the scientific and technical instruments company’s stock worth $28,000 after purchasing an additional 681 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Sensata Technologies during the 4th quarter worth approximately $29,000. Parkside Financial Bank & Trust raised its stake in shares of Sensata Technologies by 761.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 887 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 784 shares during the last quarter. Covestor Ltd lifted its holdings in Sensata Technologies by 71.6% in the third quarter. Covestor Ltd now owns 1,249 shares of the scientific and technical instruments company’s stock valued at $47,000 after buying an additional 521 shares during the period. Finally, TFO Wealth Partners LLC boosted its stake in Sensata Technologies by 17,818.8% in the fourth quarter. TFO Wealth Partners LLC now owns 2,867 shares of the scientific and technical instruments company’s stock valued at $108,000 after acquiring an additional 2,851 shares during the last quarter. Institutional investors own 99.42% of the company’s stock.

Sensata Technologies Stock Up 1.8 %

The business’s fifty day simple moving average is $35.28 and its 200 day simple moving average is $34.69. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of -354.42, a price-to-earnings-growth ratio of 0.87 and a beta of 1.37. The company has a current ratio of 2.55, a quick ratio of 1.69 and a debt-to-equity ratio of 1.13.

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.