Aptiv PLC $APTV Shares Acquired by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC boosted its stake in Aptiv by 117% in the fourth quarter, ending with 245,854 shares worth about $18.77 million.
• Aptiv reported better-than-expected quarterly results, posting EPS of $1.71 versus $1.62 expected and revenue of $5.09 billion, up 5.4% year over year.
• Despite the earnings beat, the stock was trading down 1.8%, and analysts have been trimming price targets, though the overall consensus remains Moderate Buy with a target price of $82.67.

Hsbc Holdings PLC lifted its position in shares of Aptiv PLC (NYSE:APTV - Free Report) by 117.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 245,854 shares of the auto parts company's stock after acquiring an additional 132,571 shares during the quarter. Hsbc Holdings PLC owned 0.12% of Aptiv worth $18,770,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB lifted its position in shares of Aptiv by 34.2% in the fourth quarter. Nordea Investment Management AB now owns 4,579,726 shares of the auto parts company's stock valued at $349,067,000 after acquiring an additional 1,167,946 shares in the last quarter. Thematics Asset Management increased its position in shares of Aptiv by 56.9% during the third quarter. Thematics Asset Management now owns 261,454 shares of the auto parts company's stock worth $22,543,000 after purchasing an additional 94,782 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in Aptiv in the 3rd quarter valued at $297,917,000. Dimensional Fund Advisors LP raised its stake in Aptiv by 2.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,545,257 shares of the auto parts company's stock valued at $219,443,000 after purchasing an additional 65,546 shares during the last quarter. Finally, CSM Advisors LLC acquired a new stake in Aptiv during the 3rd quarter worth $19,335,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Aptiv Trading Down 1.8%

Shares of APTV stock opened at $60.34 on Thursday. The company's 50-day moving average price is $61.42 and its 200-day moving average price is $70.58. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.98. The stock has a market cap of $12.77 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 1.03 and a beta of 1.45. Aptiv PLC has a twelve month low of $51.68 and a twelve month high of $88.93.

Aptiv (NYSE:APTV - Get Free Report) last released its quarterly earnings data 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. Aptiv had a net margin of 1.77% and a return on equity of 17.83%. The firm had revenue of $5.09 billion during the quarter, compared to analysts' expectations of $5.03 billion. During the same period last year, the business earned $1.69 earnings per share. Aptiv's revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts predict that Aptiv PLC will post 6.37 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on APTV shares. Fox Advisors dropped their target price on shares of Aptiv from $110.00 to $70.00 in a report on Friday, May 8th. Royal Bank Of Canada lowered their price target on shares of Aptiv from $104.00 to $81.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 31st. Citigroup dropped their price objective on shares of Aptiv from $92.33 to $77.00 and set a "buy" rating for the company in a research note on Monday, May 18th. Argus cut their price objective on shares of Aptiv from $99.00 to $69.00 and set a "buy" rating for the company in a report on Wednesday, May 27th. Finally, Wall Street Zen lowered shares of Aptiv from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. Twenty-two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $82.67.

Insider Activity

In other news, EVP Katherine H. Ramundo sold 2,000 shares of the firm's 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. This trade represents a 1.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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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