Aptiv PLC $APTV Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon Corp trimmed its Aptiv stake by 2.6% in the first quarter, selling 27,527 shares and leaving it with 1,036,266 shares worth about $72 million.
• Recent analyst action was mixed but still generally positive: several firms cut price targets, while Morgan Stanley upgraded Aptiv to overweight. Overall, the stock holds a consensus rating of Moderate Buy with a $82.50 target price.
• Aptiv beat its latest quarterly earnings and revenue estimates, posting EPS of $1.71 on revenue of $5.09 billion. However, the stock has been under pressure, trading at $58.33 versus a 52-week high of $88.93.

Bank of New York Mellon Corp lowered its stake in shares of Aptiv PLC (NYSE:APTV - Free Report) by 2.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,036,266 shares of the auto parts company's stock after selling 27,527 shares during the quarter. Bank of New York Mellon Corp owned about 0.49% of Aptiv worth $71,958,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in Aptiv by 240.0% during the 4th quarter. Larson Financial Group LLC now owns 357 shares of the auto parts company's stock valued at $27,000 after acquiring an additional 252 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new position in shares of Aptiv in the 4th quarter valued at approximately $33,000. DV Equities LLC acquired a new position in shares of Aptiv in the fourth quarter valued at approximately $33,000. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings in shares of Aptiv by 60.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the auto parts company's stock valued at $37,000 after purchasing an additional 180 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in shares of Aptiv by 452.3% during the first quarter. Geneos Wealth Management Inc. now owns 486 shares of the auto parts company's stock worth $29,000 after purchasing an additional 398 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company's stock.

Analyst Ratings Changes

APTV has been the subject of several recent research reports. UBS Group decreased their price target on Aptiv from $97.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 2nd. HSBC reduced their target price on shares of Aptiv from $81.32 to $75.00 and set a "buy" rating for the company in a research note on Monday, April 27th. Zacks Research upgraded shares of Aptiv from a "strong sell" rating to a "hold" rating in a research note on Friday, July 10th. Morgan Stanley raised shares of Aptiv from an "equal weight" rating to an "overweight" rating and set a $71.00 price target for the company in a report on Friday, May 8th. Finally, Wells Fargo & Company lowered their price objective on Aptiv from $82.00 to $77.00 and set an "overweight" rating on the stock in a report on Thursday, June 25th. Twenty-two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $82.50.

Aptiv Price Performance

APTV stock opened at $58.33 on Thursday. The firm has a 50 day moving average of $61.78 and a 200-day moving average of $68.05. 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 cap of $12.34 billion, a price-to-earnings ratio of 34.51, a PEG ratio of 1.08 and a beta of 1.46. 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 posted its earnings results on Wednesday, May 6th. The auto parts company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.09. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.03 billion. Aptiv had a return on equity of 17.83% and a net margin of 1.77%.Aptiv's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.69 earnings per share. As a group, equities analysts expect that Aptiv PLC will post 5.93 EPS for the current fiscal year.

Insider Transactions at Aptiv

In other Aptiv news, EVP Katherine H. Ramundo sold 2,000 shares of the stock in a transaction 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 sale, the executive vice president owned 163,752 shares in the company, valued at approximately $12,821,781.60. This represents a 1.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company's stock.

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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