Harding Loevner, an investment management firm, published its “Global Small Companies Equity Fund” third-quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly net return of 1.94% was recorded by the fund for the third quarter of 2021, beating its Benchmark, the MSCI All Country World Small Cap Index, which returned -1.42 % for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.
Harding Loevner Global Small Companies Equity Fund, in its Q3 2021 investor letter, mentioned Sensata Technologies Holding plc (NYSE: ST) and discussed its stance on the firm. Sensata Technologies Holding plc is an Attleboro, Massachusetts-based industrial technology company with a $9.1 billion market capitalization. ST delivered a 7.68% return since the beginning of the year, while its 12-month returns are up by 13.24%. The stock closed at $56.79 per share on December 03, 2021.
Here is what Harding Loevner Global Small Companies Equity Fund has to say about Sensata Technologies Holding plc in its Q3 2021 investor letter:
“Where headlamps help the driver see better, sensors help the car see better. Sensata Technologies is a leader in the US$20 billion automotive market for high-value sensors, where it has about 20% market share. Most of its current output goes into ICE cars, although it has a 70% share of the market for tire pressure sensors which are still needed in EVs. In the short term, Sensata expects the number of its existing sensors per vehicle to increase as car makers respond to stricter fuel standards and the rising demand for safety and comfort-related control systems including electronic stability control and driver assistance.
The US-based company also plans to meet the need for new products and already has more content per vehicle on EVs than it does on ICE cars. For example, the transition from traditional hydraulic brakes to EVs’ electromechanical braking and regenerative braking systems requires more, and different types of, pressure and force sensing. The company recently acquired adjacent technologies with which it can expand its product line. In 2018, it acquired Gigavac, a leading manufacturer of highvoltage contactors, a mechanical device used in EV powertrains. This acquisition gives Sensata visibility at the early stage of EV development into new sensor types and enabling technologies— and an additional route to engage in that process.”
Pixabay/Public Domain
Based on our calculations, Sensata Technologies Holding plc (NYSE: ST) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. ST was in 29 hedge fund portfolios at the end of the third quarter of 2021, compared to 32 funds in the previous quarter. Sensata Technologies Holding plc (NYSE: ST) delivered a -2.44% return in the past 3 months.
Disclosure: None. This article is originally published at Insider Monkey.
