Bank of America Trims Sensata Technologies (NYSE:ST) Target Price to $41.00

Sensata Technologies (NYSE:ST) had its price target decreased by Bank of America from $44.00 to $41.00 in a research note released on Tuesday, Benzinga reports. Bank of America currently has a neutral rating on the scientific and technical instruments company’s stock.

Several other equities research analysts have also recently issued reports on ST. Evercore ISI upgraded Sensata Technologies from an in-line rating to an outperform rating and raised their price objective for the stock from $44.00 to $60.00 in a report on Monday, May 6th. Vertical Research began coverage on Sensata Technologies in a report on Tuesday, July 23rd. They set a buy rating and a $55.00 price objective on the stock. Truist Financial lifted their target price on Sensata Technologies from $36.00 to $46.00 and gave the company a hold rating in a report on Tuesday, April 30th. Jefferies Financial Group began coverage on Sensata Technologies in a report on Tuesday, April 9th. They issued a hold rating and a $40.00 target price on the stock. Finally, Stifel Nicolaus lifted their target price on Sensata Technologies from $36.00 to $43.00 and gave the company a hold rating in a report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $44.10.

Sensata Technologies Stock Performance

Sensata Technologies stock opened at $36.24 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.74 and a current ratio of 1.77. The stock has a fifty day moving average of $39.04 and a two-hundred day moving average of $37.24. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of -329.42, a PEG ratio of 1.39 and a beta of 1.26. Sensata Technologies has a fifty-two week low of $30.56 and a fifty-two week high of $43.14.

Sensata Technologies (NYSE:ST) last posted its quarterly earnings data on Monday, July 29th. The scientific and technical instruments company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Sensata Technologies had a return on equity of 17.57% and a net margin of 0.21%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The business’s revenue was down 2.5% on a year-over-year basis. On average, analysts anticipate that Sensata Technologies will post 3.6 EPS for the current fiscal year.

Sensata Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Wednesday, August 14th. Sensata Technologies’s dividend payout ratio is presently -436.32%.

Institutional Trading of Sensata Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Fifth Third Bancorp increased its position in shares of Sensata Technologies by 0.9% during the second quarter. Fifth Third Bancorp now owns 29,509 shares of the scientific and technical instruments company’s stock worth $1,103,000 after acquiring an additional 275 shares during the last quarter. Amalgamated Bank increased its position in shares of Sensata Technologies by 0.3% during the first quarter. Amalgamated Bank now owns 94,351 shares of the scientific and technical instruments company’s stock worth $3,466,000 after acquiring an additional 310 shares during the last quarter. Fulton Bank N.A. increased its position in shares of Sensata Technologies by 1.2% during the first quarter. Fulton Bank N.A. now owns 25,912 shares of the scientific and technical instruments company’s stock worth $952,000 after acquiring an additional 317 shares during the last quarter. Northwest Investment Counselors LLC increased its position in shares of Sensata Technologies by 1.1% during the first quarter. Northwest Investment Counselors LLC now owns 28,174 shares of the scientific and technical instruments company’s stock worth $1,035,000 after acquiring an additional 320 shares during the last quarter. Finally, Retirement Systems of Alabama increased its holdings in Sensata Technologies by 0.3% in the first quarter. Retirement Systems of Alabama now owns 190,063 shares of the scientific and technical instruments company’s stock valued at $6,983,000 after buying an additional 498 shares during the last quarter. 99.42% of the stock is owned by hedge funds and other institutional investors.

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.