Harrington Investments INC Sells 817 Shares of Sony Group Co. (NYSE:SONY)

Harrington Investments INC decreased its holdings in shares of Sony Group Co. (NYSE:SONY) by 28.3% in the 3rd quarter, Holdings Channel reports. The fund owned 2,072 shares of the company’s stock after selling 817 shares during the period. Harrington Investments INC’s holdings in Sony Group were worth $200,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Sony Group in the second quarter valued at approximately $26,000. Sunbelt Securities Inc. acquired a new stake in Sony Group during the 1st quarter valued at approximately $29,000. Rise Advisors LLC lifted its position in shares of Sony Group by 259.2% in the 1st quarter. Rise Advisors LLC now owns 352 shares of the company’s stock worth $30,000 after purchasing an additional 254 shares during the period. Ridgewood Investments LLC acquired a new stake in shares of Sony Group during the second quarter worth $41,000. Finally, Family Firm Inc. bought a new stake in Sony Group during the second quarter valued at $44,000. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SONY has been the topic of a number of research analyst reports. Daiwa America upgraded Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. TD Cowen cut their price target on Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a research note on Friday. Finally, StockNews.com upgraded shares of Sony Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $22.30.

Sony Group Stock Performance

NYSE:SONY opened at $19.09 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.47 and a current ratio of 0.63. The firm has a market cap of $23.56 billion, a price-to-earnings ratio of 3.51 and a beta of 0.94. Sony Group Co. has a 52-week low of $15.02 and a 52-week high of $20.18. The business’s fifty day moving average is $29.26 and its 200 day moving average is $21.26.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The firm had revenue of $19.32 billion for the quarter, compared to analysts’ expectations of $17.42 billion. Research analysts predict that Sony Group Co. will post 0.61 EPS for the current year.

Sony Group Profile

Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.