Short Interest in Sensata Technologies Holding plc (NYSE:ST) Decreases By 20.1%

Sensata Technologies Holding plc (NYSE:ST) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 2,740,000 shares, a drop of 20.1% from the October 15th total of 3,430,000 shares. Currently, 1.9% of the shares of the stock are short sold. Based on an average trading volume of 1,180,000 shares, the days-to-cover ratio is currently 2.3 days.

Analysts Set New Price Targets

A number of research firms have issued reports on ST. Vertical Research assumed coverage on shares of Sensata Technologies in a report on Tuesday, July 23rd. They issued a “buy” rating and a $55.00 target price on the stock. Oppenheimer reduced their price target on Sensata Technologies from $47.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. dropped their price objective on shares of Sensata Technologies from $34.00 to $32.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 5th. Truist Financial lowered their price target on shares of Sensata Technologies from $38.00 to $33.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Finally, Bank of America dropped their target price on Sensata Technologies from $44.00 to $41.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $41.00.

Hedge Funds Weigh In On Sensata Technologies

Several institutional investors and hedge funds have recently made changes to their positions in ST. Millennium Management LLC raised its position in Sensata Technologies by 84.8% during the second quarter. Millennium Management LLC now owns 5,059,047 shares of the scientific and technical instruments company’s stock worth $189,158,000 after acquiring an additional 2,321,782 shares in the last quarter. Eminence Capital LP lifted its stake in Sensata Technologies by 31.8% during the second quarter. Eminence Capital LP now owns 3,423,317 shares of the scientific and technical instruments company’s stock worth $127,998,000 after purchasing an additional 826,353 shares during the last quarter. Capitolis Liquid Global Markets LLC acquired a new stake in Sensata Technologies in the first quarter valued at about $28,969,000. Victory Capital Management Inc. grew its holdings in shares of Sensata Technologies by 64.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,854,773 shares of the scientific and technical instruments company’s stock valued at $69,350,000 after purchasing an additional 727,521 shares during the last quarter. Finally, Merewether Investment Management LP acquired a new position in shares of Sensata Technologies during the third quarter worth $25,446,000. Institutional investors and hedge funds own 99.42% of the company’s stock.

Sensata Technologies Stock Performance

Shares of ST stock traded down $0.79 during trading on Friday, reaching $31.83. The company had a trading volume of 1,797,214 shares, compared to its average volume of 1,850,914. The firm’s 50 day simple moving average is $34.82 and its two-hundred day simple moving average is $37.54. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.60 and a quick ratio of 1.76. Sensata Technologies has a one year low of $31.18 and a one year high of $43.14. The company has a market capitalization of $4.76 billion, a PE ratio of -58.94, a PEG ratio of 0.95 and a beta of 1.25.

Sensata Technologies (NYSE:ST) last posted its quarterly earnings results on Monday, November 4th. The scientific and technical instruments company reported $0.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.86. Sensata Technologies had a negative net margin of 1.98% and a positive return on equity of 17.68%. The firm had revenue of $982.80 million for the quarter, compared to the consensus estimate of $983.93 million. During the same quarter in the previous year, the company earned $0.91 earnings per share. The business’s revenue was down 1.8% compared to the same quarter last year. Sell-side analysts forecast that Sensata Technologies will post 3.43 earnings per share for the current year.

Sensata Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.48 annualized dividend and a dividend yield of 1.51%. Sensata Technologies’s dividend payout ratio is currently -88.89%.

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.