Essex Financial Services Inc. Takes $302,000 Position in Aptiv PLC (NYSE:APTV)

Essex Financial Services Inc. purchased a new stake in Aptiv PLC (NYSE:APTV - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,083 shares of the auto parts company's stock, valued at approximately $302,000.

Several other hedge funds and other institutional investors have also made changes to their positions in APTV. Norges Bank bought a new stake in Aptiv in the fourth quarter valued at approximately $106,492,000. Pictet Asset Management Holding SA grew its holdings in shares of Aptiv by 1,018.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,690,845 shares of the auto parts company's stock valued at $102,262,000 after buying an additional 1,539,724 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Aptiv by 11.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 14,289,126 shares of the auto parts company's stock valued at $864,206,000 after buying an additional 1,517,104 shares in the last quarter. Franklin Resources Inc. raised its stake in Aptiv by 29.7% during the 4th quarter. Franklin Resources Inc. now owns 6,146,947 shares of the auto parts company's stock worth $371,767,000 after buying an additional 1,408,433 shares during the period. Finally, Paloma Partners Management Co lifted its holdings in Aptiv by 968.7% during the fourth quarter. Paloma Partners Management Co now owns 909,500 shares of the auto parts company's stock worth $55,007,000 after acquiring an additional 824,400 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors.

Aptiv Stock Up 0.7%

Shares of Aptiv stock traded up $0.51 during trading hours on Wednesday, reaching $72.18. 2,512,254 shares of the company's stock were exchanged, compared to its average volume of 3,390,973. The stock has a market cap of $15.72 billion, a P/E ratio of 11.95, a P/E/G ratio of 0.76 and a beta of 1.46. The company has a 50 day moving average of $65.13 and a two-hundred day moving average of $62.24. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. Aptiv PLC has a fifty-two week low of $47.19 and a fifty-two week high of $80.95.

Aptiv (NYSE:APTV - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The auto parts company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.55 by $0.14. The firm had revenue of $4.83 billion during the quarter, compared to analysts' expectations of $4.78 billion. Aptiv had a return on equity of 17.24% and a net margin of 7.93%. The business's quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 earnings per share. On average, sell-side analysts forecast that Aptiv PLC will post 7.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on APTV shares. Wells Fargo & Company boosted their target price on Aptiv from $85.00 to $86.00 and gave the company an "overweight" rating in a research note on Tuesday. Morgan Stanley decreased their price objective on Aptiv from $60.00 to $55.00 and set an "underweight" rating for the company in a research report on Monday, May 19th. Barclays raised their target price on shares of Aptiv from $55.00 to $65.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Wall Street Zen upgraded shares of Aptiv to a "hold" rating in a report on Saturday, June 21st. Finally, Piper Sandler set a $70.00 price objective on shares of Aptiv and gave the stock a "neutral" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $81.61.

Aptiv Company Profile

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.