Aptiv PLC $APTV Shares Sold by Atlantic Investment Management Inc.

Key Points

• Atlantic Investment Management reduced its Aptiv stake by 9.7% in the fourth quarter, selling 29,500 shares and leaving it with 275,971 shares worth about $21.0 million.
• Other institutional investors were active in Aptiv as well, with several adding to positions; notably, 94.21% of the stock is owned by institutions.
• Aptiv’s latest earnings beat expectations, reporting $1.71 EPS on revenue of $5.09 billion, while analysts still largely rate the stock a Moderate Buy with an average price target of $82.67.

Atlantic Investment Management Inc. cut its holdings in Aptiv PLC (NYSE:APTV - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 275,971 shares of the auto parts company's stock after selling 29,500 shares during the quarter. Aptiv makes up 11.8% of Atlantic Investment Management Inc.'s portfolio, making the stock its 4th largest position. Atlantic Investment Management Inc. owned 0.13% of Aptiv worth $20,999,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Freestone Grove Partners LP bought a new stake in Aptiv during the 4th quarter worth about $26,232,000. Caisse de depot et placement du Quebec raised its holdings in Aptiv by 207.5% during the 4th quarter. Caisse de depot et placement du Quebec now owns 839,702 shares of the auto parts company's stock worth $63,893,000 after purchasing an additional 566,661 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in Aptiv by 134.0% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 8,235 shares of the auto parts company's stock worth $627,000 after purchasing an additional 4,716 shares during the last quarter. DV Equities LLC bought a new stake in Aptiv during the 4th quarter worth about $33,000. Finally, AQR Capital Management LLC raised its holdings in Aptiv by 0.9% during the 4th quarter. AQR Capital Management LLC now owns 955,452 shares of the auto parts company's stock worth $72,700,000 after purchasing an additional 8,077 shares during the last quarter. 94.21% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Katherine H. Ramundo sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The stock was 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 $12,821,781.60. This trade represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

APTV has been the subject of several recent research reports. Piper Sandler dropped their price objective on Aptiv from $106.00 to $94.00 and set an "overweight" rating for the company in a report on Monday, June 8th. UBS Group decreased their target price on Aptiv from $97.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 2nd. President Capital assumed coverage on Aptiv in a research report on Wednesday, March 25th. They set a "buy" rating and a $82.50 target price for the company. 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. Finally, Robert W. Baird dropped their price objective on Aptiv from $105.00 to $74.00 and set an "outperform" rating on the stock in a research note on Thursday, April 2nd. Twenty-two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Aptiv presently has an average rating of "Moderate Buy" and an average price target of $82.67.

Aptiv Price Performance

Aptiv stock opened at $62.85 on Thursday. Aptiv PLC has a 12 month low of $51.68 and a 12 month high of $88.93. 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 company has a market capitalization of $13.30 billion, a PE ratio of 37.19, a P/E/G ratio of 1.10 and a beta of 1.45. The stock has a 50-day moving average price of $61.12 and a two-hundred day moving average price of $71.09.

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

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.

Want to see what other hedge funds are holding APTV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aptiv PLC (NYSE:APTV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.