Sensata Technologies (NYSE:ST) Downgraded to Neutral at Bank of America

Bank of America cut shares of Sensata Technologies (NYSE:STFree Report) from a buy rating to a neutral rating in a research note issued to investors on Wednesday, Marketbeat.com reports. Bank of America currently has $38.00 price target on the scientific and technical instruments company’s stock, down from their prior price target of $46.00.

ST has been the subject of a number of other reports. JPMorgan Chase & Co. cut shares of Sensata Technologies from a neutral rating to an underweight rating and dropped their price target for the stock from $37.00 to $34.00 in a research note on Monday, January 8th. Stifel Nicolaus dropped their price target on shares of Sensata Technologies from $44.00 to $40.00 and set a hold rating for the company in a research note on Wednesday, November 1st. Truist Financial dropped their price target on shares of Sensata Technologies from $43.00 to $35.00 and set a hold rating for the company in a research note on Wednesday, November 1st. Finally, Oppenheimer raised shares of Sensata Technologies from a market perform rating to an outperform rating and set a $50.00 price target for the company in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $40.33.

View Our Latest Analysis on ST

Sensata Technologies Stock Up 0.3 %

ST opened at $33.17 on Wednesday. The company has a fifty day moving average of $35.40 and a 200 day moving average of $36.23. Sensata Technologies has a fifty-two week low of $30.56 and a fifty-two week high of $53.17. The company has a quick ratio of 2.07, a current ratio of 2.55 and a debt-to-equity ratio of 1.13.

Sensata Technologies (NYSE:STGet Free Report) last posted its earnings results on Tuesday, February 6th. The scientific and technical instruments company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Sensata Technologies had a negative net margin of 0.10% and a positive return on equity of 17.47%. The company had revenue of $992.50 million for the quarter, compared to analysts’ expectations of $978.05 million. During the same period in the previous year, the business posted $0.96 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts forecast that Sensata Technologies will post 3.98 earnings per share for the current fiscal year.

Sensata Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be issued a $0.12 dividend. The ex-dividend date is Tuesday, February 13th. This represents a $0.48 annualized dividend and a dividend yield of 1.45%. Sensata Technologies’s dividend payout ratio is currently -959.81%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ST. Yousif Capital Management LLC raised its stake in shares of Sensata Technologies by 9.9% during the 1st quarter. Yousif Capital Management LLC now owns 4,451 shares of the scientific and technical instruments company’s stock worth $226,000 after acquiring an additional 400 shares in the last quarter. Raymond James Trust N.A. purchased a new stake in Sensata Technologies during the 1st quarter worth approximately $202,000. Allianz Asset Management GmbH grew its position in Sensata Technologies by 1.0% during the 1st quarter. Allianz Asset Management GmbH now owns 774,136 shares of the scientific and technical instruments company’s stock worth $39,364,000 after purchasing an additional 7,953 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in Sensata Technologies during the 1st quarter worth approximately $254,000. Finally, Mackenzie Financial Corp grew its position in Sensata Technologies by 42.7% during the 1st quarter. Mackenzie Financial Corp now owns 833,577 shares of the scientific and technical instruments company’s stock worth $42,387,000 after purchasing an additional 249,277 shares during the last quarter. Institutional investors own 96.46% of the company’s stock.

Sensata Technologies Company Profile

(Get Free Report)

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. It operates in two segments, Performance Sensing and Sensing Solutions. The Performance Sensing segment develops and manufactures sensors, high-voltage solutions, and other solutions used in mission-critical systems and applications, such as tire pressure monitoring, thermal management, electrical protection, regenerative braking, powertrain (engine/transmission), exhaust management, and operator controls for automobiles, on-road trucks, and off-road equipment customers.

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