Cartenna Capital LP Makes New $26.78 Million Investment in Aptiv PLC (NYSE:APTV)

Cartenna Capital LP bought a new position in shares of Aptiv PLC (NYSE:APTV - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 442,730 shares of the auto parts company's stock, valued at approximately $26,776,000. Aptiv makes up 1.3% of Cartenna Capital LP's investment portfolio, making the stock its 21st largest position. Cartenna Capital LP owned approximately 0.19% of Aptiv at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. South Dakota Investment Council lifted its holdings in Aptiv by 32.9% in the fourth quarter. South Dakota Investment Council now owns 128,954 shares of the auto parts company's stock valued at $7,799,000 after buying an additional 31,941 shares during the period. Focus Financial Network Inc. acquired a new position in Aptiv in the fourth quarter valued at approximately $379,000. Shorepath Capital Management LLC lifted its holdings in Aptiv by 21.8% in the fourth quarter. Shorepath Capital Management LLC now owns 66,104 shares of the auto parts company's stock valued at $3,998,000 after buying an additional 11,835 shares during the period. Diametric Capital LP acquired a new stake in Aptiv in the fourth quarter worth $972,000. Finally, abrdn plc bought a new position in shares of Aptiv during the fourth quarter worth $30,374,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Aptiv Stock Performance

Shares of APTV traded up $0.50 during mid-day trading on Tuesday, reaching $56.78. The company's stock had a trading volume of 432,665 shares, compared to its average volume of 3,560,415. Aptiv PLC has a 1-year low of $47.19 and a 1-year high of $85.56. The stock has a market cap of $13.03 billion, a P/E ratio of 8.25, a PEG ratio of 0.62 and a beta of 1.64. The business has a 50-day simple moving average of $59.19 and a two-hundred day simple moving average of $60.26. The company has a current ratio of 1.53, a quick ratio of 1.07 and a debt-to-equity ratio of 0.87.

Aptiv (NYSE:APTV - Get Free Report) last announced its earnings results on Thursday, February 6th. The auto parts company reported $1.75 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.12. Aptiv had a return on equity of 15.63% and a net margin of 9.07%. As a group, equities research analysts anticipate that Aptiv PLC will post 7.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on APTV. Argus raised Aptiv to a "strong-buy" rating in a research note on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft upgraded Aptiv from a "hold" rating to a "buy" rating and set a $78.00 target price on the stock in a report on Friday, February 7th. Guggenheim reduced their target price on Aptiv from $75.00 to $64.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Hsbc Global Res upgraded Aptiv from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Finally, TD Cowen initiated coverage on Aptiv in a report on Friday, March 7th. They set a "buy" rating and a $90.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Aptiv presently has an average rating of "Moderate Buy" and a consensus price target of $81.94.

Insiders Place Their Bets

In related news, SVP Benjamin Lyon sold 14,568 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $65.50, for a total transaction of $954,204.00. Following the completion of the sale, the senior vice president now directly owns 125,237 shares in the company, valued at $8,203,023.50. This represents a 10.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.45% of the company's stock.

About Aptiv

Aptiv PLC engages in design, manufacture, and sale of vehicle components in North America, Europe, Middle East, Africa, the Asia Pacific, South America, and internationally. The company provides electrical, electronic, and safety technology solutions to the automotive and commercial vehicle markets. It operates through two segments, Signal and Power Solutions, and Advanced Safety and User Experience.