Aptiv PLC $APTV Shares Bought by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its Aptiv stake by 6.9% in the first quarter, acquiring 51,118 additional shares and bringing its holdings to 795,165 shares valued at approximately $55.2 million. Institutional investors collectively own 94.21% of Aptiv.
• Aptiv reported quarterly EPS of $1.71, exceeding estimates of $1.62, while revenue reached $5.09 billion and rose 5.4% year over year.
• Analysts remain broadly positive, with 22 Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $82.50, despite several recent target-price reductions.

Royal Bank of Canada boosted its holdings in Aptiv PLC (NYSE:APTV - Free Report) by 6.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 795,165 shares of the auto parts company's stock after purchasing an additional 51,118 shares during the quarter. Royal Bank of Canada owned approximately 0.38% of Aptiv worth $55,217,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp increased its holdings in shares of Aptiv by 4.3% in the 4th quarter. State Street Corp now owns 10,066,712 shares of the auto parts company's stock worth $765,976,000 after acquiring an additional 419,375 shares during the period. Norges Bank bought a new stake in shares of Aptiv in the 4th quarter worth $634,961,000. Geode Capital Management LLC lifted its holdings in Aptiv by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 5,821,615 shares of the auto parts company's stock valued at $441,289,000 after acquiring an additional 99,876 shares during the last quarter. Boston Partners lifted its stake in Aptiv by 29.2% during the third quarter. Boston Partners now owns 4,194,909 shares of the auto parts company's stock valued at $361,385,000 after purchasing an additional 948,327 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Aptiv by 9.0% during the 2nd quarter. Alliancebernstein L.P. now owns 3,831,441 shares of the auto parts company's stock valued at $261,381,000 after acquiring an additional 315,824 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Aptiv

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 of the company's stock, valued at approximately $12,821,781.60. This trade represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Piper Sandler reduced their price target on shares of Aptiv from $106.00 to $94.00 and set an "overweight" rating for the company in a research report on Monday, June 8th. BNP Paribas Exane cut their price target on Aptiv from $107.00 to $83.00 and set an "outperform" rating for the company in a research note on Tuesday, April 14th. Weiss Ratings upgraded shares of Aptiv from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday. Wells Fargo & Company reduced their target price on Aptiv from $82.00 to $77.00 and set an "overweight" rating for the company in a report on Thursday, June 25th. Finally, Barclays cut their target price on shares of Aptiv from $77.00 to $73.00 and set an "overweight" rating for the company in a research report on Wednesday, May 6th. Twenty-two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Aptiv presently has a consensus rating of "Moderate Buy" and an average price target of $82.50.

Aptiv Price Performance

Shares of Aptiv stock opened at $56.51 on Friday. Aptiv PLC has a twelve month low of $51.68 and a twelve month high of $88.93. The firm has a market cap of $11.96 billion, a P/E ratio of 33.44, a price-to-earnings-growth ratio of 1.05 and a beta of 1.46. The firm's 50-day simple moving average is $62.12 and its 200-day simple moving average is $66.90. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.57 and a current ratio of 2.11.

Aptiv (NYSE:APTV - Get Free Report) last issued its earnings results on Wednesday, May 6th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.09. The business 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%.Aptiv's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.69 EPS. As a group, research analysts expect that Aptiv PLC will post 5.93 EPS for the current fiscal year.

Aptiv Company 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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