Aptiv PLC $APTV Holdings Raised by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp boosted its Aptiv stake by 387.5% in the fourth quarter, ending with 277,400 shares valued at about $21.1 million. Several other institutional investors also increased holdings, and institutions now own 94.21% of the stock.
• Wall Street sentiment remains largely constructive: Aptiv has 22 Buy ratings, one Hold, and one Sell, with a consensus rating of Moderate Buy and an average price target of $82.67. Recent analyst moves included upgrades and buy ratings from firms such as Wolfe Research and Goldman Sachs.
• Aptiv reported better-than-expected quarterly results, posting EPS of $1.71 versus the $1.62 estimate and revenue of $5.09 billion versus expectations of $5.03 billion. The stock opened at $66.59, while insider Katherine H. Ramundo sold 2,000 shares at $78.30.

Alberta Investment Management Corp grew its position in Aptiv PLC (NYSE:APTV - Free Report) by 387.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 277,400 shares of the auto parts company's stock after acquiring an additional 220,500 shares during the quarter. Alberta Investment Management Corp owned approximately 0.13% of Aptiv worth $21,107,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in APTV. NewEdge Advisors LLC increased its holdings in shares of Aptiv by 502.1% in the 1st quarter. NewEdge Advisors LLC now owns 15,557 shares of the auto parts company's stock valued at $926,000 after acquiring an additional 12,973 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Aptiv by 439.2% in the 1st quarter. Woodline Partners LP now owns 76,109 shares of the auto parts company's stock valued at $4,528,000 after acquiring an additional 61,994 shares during the last quarter. Focus Partners Wealth increased its holdings in shares of Aptiv by 110.7% in the 1st quarter. Focus Partners Wealth now owns 9,511 shares of the auto parts company's stock valued at $566,000 after acquiring an additional 4,998 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Aptiv by 452.3% in the 1st 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 last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Aptiv by 523.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,561 shares of the auto parts company's stock valued at $175,000 after acquiring an additional 2,150 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on APTV. Wolfe Research upgraded Aptiv from a "peer perform" rating to an "outperform" rating and set a $91.00 price objective for the company in a research note on Friday, March 6th. Argus lowered their price objective on Aptiv from $99.00 to $69.00 and set a "buy" rating for the company in a research note on Wednesday, May 27th. The Goldman Sachs Group upped their price objective on Aptiv from $75.00 to $82.00 and gave the stock a "buy" rating in a research note on Thursday, June 11th. President Capital began coverage on Aptiv in a research note on Wednesday, March 25th. They set a "buy" rating and a $82.50 price objective for the company. Finally, UBS Group lowered their price objective on Aptiv from $97.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 2nd. Twenty-two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $82.67.

Aptiv Price Performance

Shares of APTV opened at $66.59 on Tuesday. The company has a market cap of $14.09 billion, a P/E ratio of 39.40, a PEG ratio of 1.14 and a beta of 1.45. The stock has a fifty day moving average price of $60.97 and a 200 day moving average price of $71.27. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.11 and a quick ratio of 1.57. Aptiv PLC has a 12 month low of $51.68 and a 12 month high of $88.93.

Aptiv (NYSE:APTV - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping 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 company's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.69 earnings per share. On average, research analysts forecast that Aptiv PLC will post 6.37 earnings per share for the current year.

Insider Transactions at Aptiv

In related news, EVP Katherine H. Ramundo sold 2,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $78.30, for a total value of $156,600.00. Following the completion of the transaction, the executive vice president owned 163,752 shares in the company, valued at $12,821,781.60. This represents a 1.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by corporate insiders.

About Aptiv

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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