Aptiv PLC $APTV Stake Boosted by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp boosted its Aptiv stake by 387.5% in the fourth quarter, buying an additional 220,500 shares and bringing its total to 277,400 shares worth about $21.1 million.
• Aptiv reported better-than-expected Q1 earnings, with EPS of $1.71 versus the $1.62 consensus and revenue of $5.09 billion, up 5.4% from a year earlier.
• Despite mixed analyst actions and one insider sale, Wall Street remains generally positive on Aptiv, with 22 Buy ratings and an average price target of $82.67.

Alberta Investment Management Corp increased its holdings in Aptiv PLC (NYSE:APTV - Free Report) by 387.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 277,400 shares of the auto parts company's stock after buying an additional 220,500 shares during the period. Alberta Investment Management Corp owned about 0.13% of Aptiv worth $21,107,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of APTV. Westpac Banking Corp grew its position in shares of Aptiv by 6.6% during the fourth quarter. Westpac Banking Corp now owns 1,905 shares of the auto parts company's stock worth $145,000 after acquiring an additional 118 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in Aptiv by 3.3% in the 4th quarter. Sivia Capital Partners LLC now owns 3,734 shares of the auto parts company's stock worth $284,000 after buying an additional 120 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Aptiv by 4.2% in the 4th quarter. Advisors Asset Management Inc. now owns 3,559 shares of the auto parts company's stock worth $271,000 after buying an additional 143 shares in the last quarter. Benjamin Edwards Inc. increased its position in Aptiv by 0.5% in the 4th quarter. Benjamin Edwards Inc. now owns 34,728 shares of the auto parts company's stock valued at $2,642,000 after acquiring an additional 156 shares during the period. Finally, Unified Investment Management raised its stake in Aptiv by 1.3% during the 4th quarter. Unified Investment Management now owns 12,384 shares of the auto parts company's stock valued at $942,000 after acquiring an additional 161 shares in the last quarter. Institutional investors own 94.21% of the company's stock.

Aptiv Trading Up 1.5%

Shares of NYSE:APTV opened at $63.84 on Friday. The stock has a market capitalization of $13.51 billion, a price-to-earnings ratio of 37.78, a PEG ratio of 1.05 and a beta of 1.45. Aptiv PLC has a 1-year low of $51.68 and a 1-year high of $88.93. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.57 and a current ratio of 2.11. The company has a 50 day moving average price of $61.23 and a 200 day moving average price of $70.99.

Aptiv (NYSE:APTV - Get Free Report) last announced 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. Aptiv had a return on equity of 17.83% and a net margin of 1.77%.The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the previous year, the firm earned $1.69 earnings per share. Aptiv's revenue for the quarter was up 5.4% compared to the same quarter last year. On average, research analysts anticipate that Aptiv PLC will post 6.37 EPS for the current fiscal year.

Insider Buying and Selling at Aptiv

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 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 directly owned 163,752 shares in the company, 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 document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on APTV. Evercore reduced their price target on Aptiv from $100.00 to $80.00 and set an "outperform" rating for the company in a research report on Tuesday, May 5th. Wall Street Zen lowered Aptiv from a "buy" rating to a "hold" rating in a report on Saturday, June 6th. Argus cut their price objective on shares of Aptiv from $99.00 to $69.00 and set a "buy" rating on the stock in a research note on Wednesday, May 27th. Piper Sandler dropped their price target on shares of Aptiv from $106.00 to $94.00 and set an "overweight" rating on the stock in a research report on Monday, June 8th. Finally, Zacks Research lowered shares of Aptiv from a "hold" rating to a "strong sell" rating in a research note on Monday, April 27th. 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's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $82.67.

Aptiv 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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