Allspring Global Investments Holdings LLC Acquires 113,633 Shares of Aptiv PLC $APTV

Key Points

• Allspring Global Investments increased its stake in Aptiv by 3.9% in Q1, buying 113,633 additional shares and bringing its total holdings to 3,029,539 shares worth about $210.4 million.
• Aptiv reported better-than-expected earnings for the latest quarter, posting $1.71 EPS on revenue of $5.09 billion, both above analyst estimates and up 5.4% year over year.
• Wall Street sentiment remains mostly positive, with 22 Buy ratings and an average Moderate Buy consensus target price of $82.50, even as some firms trimmed targets or downgraded the stock.

Allspring Global Investments Holdings LLC grew its holdings in Aptiv PLC (NYSE:APTV - Free Report) by 3.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,029,539 shares of the auto parts company's stock after buying an additional 113,633 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.42% of Aptiv worth $210,371,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Saranac Partners Ltd bought a new stake in shares of Aptiv in the 3rd quarter valued at approximately $25,000. Larson Financial Group LLC boosted its stake in Aptiv by 240.0% in the 4th quarter. Larson Financial Group LLC now owns 357 shares of the auto parts company's stock valued at $27,000 after buying an additional 252 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Aptiv by 452.3% in the first quarter. Geneos Wealth Management Inc. now owns 486 shares of the auto parts company's stock valued at $29,000 after acquiring an additional 398 shares during the period. Atlas Capital Advisors Inc. bought a new stake in Aptiv in the fourth quarter valued at $33,000. Finally, DV Equities LLC acquired a new position in Aptiv during the fourth quarter worth $33,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Katherine H. Ramundo sold 2,000 shares of Aptiv stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $78.30, for a total transaction of $156,600.00. Following the completion of the sale, the executive vice president owned 163,752 shares in the company, valued at $12,821,781.60. The trade was a 1.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is currently owned by insiders.

Aptiv Stock Performance

APTV stock opened at $59.17 on Friday. The company has a 50 day moving average price of $61.61 and a 200 day moving average price of $68.58. Aptiv PLC has a fifty-two week low of $51.68 and a fifty-two week high of $88.93. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.11 and a quick ratio of 1.57. The stock has a market capitalization of $12.52 billion, a PE ratio of 35.01, a price-to-earnings-growth ratio of 1.10 and a beta of 1.46.

Aptiv (NYSE:APTV - Get Free Report) last released its earnings results on Wednesday, May 6th. The auto parts company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.62 by $0.09. The company had revenue of $5.09 billion during the quarter, compared to analysts' expectations of $5.03 billion. Aptiv had a return on equity of 17.83% and a net margin of 1.77%.The business's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $1.69 EPS. Analysts forecast that Aptiv PLC will post 5.93 EPS for the current year.

Wall Street Analyst Weigh In

APTV has been the subject of a number of analyst reports. Zacks Research raised Aptiv from a "strong sell" rating to a "hold" rating in a report on Friday, July 10th. Royal Bank Of Canada increased their target price on shares of Aptiv from $81.00 to $90.00 and gave the stock an "outperform" rating in a research report on Monday. Wall Street Zen downgraded shares of Aptiv from a "buy" rating to a "hold" rating in a report on Saturday, June 6th. Piper Sandler reduced their price target on shares of Aptiv from $106.00 to $94.00 and set an "overweight" rating on the stock in a research report on Monday, June 8th. Finally, Argus decreased their price objective on shares of Aptiv from $99.00 to $69.00 and set a "buy" rating on the stock in a research note on Wednesday, May 27th. Twenty-two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $82.50.

Aptiv Profile

Aptiv plc is a global automotive technology company that develops safer, greener and more connected solutions for the mobility industry. The company designs and supplies advanced electrical architectures, electronic systems and software that enable vehicle connectivity, active safety, advanced driver-assistance systems (ADAS) and autonomous driving capabilities. Aptiv's customers include major automakers and mobility service providers seeking to integrate higher levels of automation, electrification and software-defined features into production vehicles and mobility platforms.

Product and service offerings span vehicle electrical systems and wiring, connectors and harnesses, high-voltage electrification components, power electronics and charging solutions, sensors and compute platforms that support ADAS and autonomous functions, and the software and services required to integrate and manage these systems.

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