96,320 Aptiv PLC $APTV Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments cut its Aptiv stake by 2.7%, selling 96,320 shares in the third quarter. It still held 3.44 million shares, worth about $151.4 million at quarter-end.
• Aptiv reported quarterly earnings of $1.42 per share, beating estimates of $1.33, and revenue of $3.20 billion, also above expectations. Revenue rose 2.3% year over year, while EPS declined from $2.17 a year earlier.
• The stock opened at $39.48, near its 52-week low of $39.40. Analysts’ average rating was “Moderate Buy,” with an average price target of $69.02, though several firms had recently lowered their targets.

Allspring Global Investments Holdings LLC reduced its position in Aptiv PLC (NYSE:APTV - Free Report) by 2.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,444,084 shares of the auto parts company's stock after selling 96,320 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.66% of Aptiv worth $151,436,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new stake in shares of Aptiv in the second quarter worth $61,065,000. Cooper Creek Partners Management LLC bought a new position in Aptiv in the 1st quarter worth about $48,166,000. First Trust Advisors LP increased its stake in Aptiv by 23.1% in the 1st quarter. First Trust Advisors LP now owns 2,394,019 shares of the auto parts company's stock worth $166,241,000 after acquiring an additional 449,145 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Aptiv in the 2nd quarter valued at about $27,364,000. Finally, Squarepoint Ops LLC raised its holdings in shares of Aptiv by 238.9% in the 2nd quarter. Squarepoint Ops LLC now owns 519,044 shares of the auto parts company's stock valued at $31,859,000 after acquiring an additional 365,893 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company's stock.

Aptiv Price Performance

Shares of Aptiv stock opened at $39.48 on Monday. Aptiv PLC has a 52-week low of $39.40 and a 52-week high of $88.93. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 10.88, a price-to-earnings-growth ratio of 0.77 and a beta of 1.43. The company has a fifty day moving average of $44.13 and a 200-day moving average of $58.97. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.26 and a current ratio of 1.97.

Aptiv (NYSE:APTV - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The auto parts company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.09. The company had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.17 billion. Aptiv had a net margin of 4.60% and a return on equity of 15.44%. The firm's revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.17 EPS. Equities research analysts expect that Aptiv PLC will post 5.64 EPS for the current year.

Key Stories Impacting Aptiv

Here are the key news stories impacting Aptiv this week:

• Positive Sentiment: Aptiv said it is accelerating its robotics expansion with industry partners, a potential opportunity to broaden growth beyond its core automotive business. Aptiv: Accelerates Robotics Expansion With Industry Partners
• Positive Sentiment: Citigroup lowered its price target to $68 from $77 but maintained a Buy rating; the new target implies 72.2% upside from the cited share price. This signals continued optimism, although the reduced target reflects a more cautious valuation. Citigroup stock recommendations
• Neutral Sentiment: Wall Street analysts are described as moderately optimistic despite Aptiv’s substantial underperformance versus the broader market over the past year. Are Wall Street Analysts Predicting Aptiv Stock Will Climb or Sink?
• Negative Sentiment: Several firms lowered their price targets, including Goldman Sachs, which cut its target to $54, and TD Cowen, which reduced its target to $72. Morgan Stanley and RBC also lowered targets, adding to the cautious tone around valuation. Goldman Sachs lowers Aptiv price target TD Cowen cuts Aptiv price target Morgan Stanley lowers Aptiv price target RBC lowers Aptiv price target

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Robert W. Baird set a $59.00 price target on Aptiv in a research report on Wednesday, August 5th. Weiss Ratings cut shares of Aptiv from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. Zacks Research raised shares of Aptiv from a "strong sell" rating to a "hold" rating in a research note on Thursday. Wells Fargo & Company dropped their target price on shares of Aptiv from $77.00 to $66.00 and set an "overweight" rating for the company in a research report on Wednesday, August 5th. Finally, Fox Advisors lowered shares of Aptiv from an "overweight" rating to an "equal weight" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $69.02.

Aptiv Profile

Aptiv plc is a global automotive technology supplier that develops software, electrical systems and components for vehicle manufacturers. Its products and services support vehicle connectivity, safety, electrification and automation.

The company's offerings include vehicle electrical architectures, wiring and connection systems, advanced driver-assistance technologies, and software and computing platforms. Aptiv serves automakers and other customers across multiple regions worldwide.

Aptiv took its current name in 2017, when Delphi Automotive separated its powertrain business, which became Delphi Technologies.

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