Aptiv PLC $APTV Stock Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its Aptiv stake by 97.3% in the third quarter, selling 446,236 shares and retaining 12,435 shares worth about $535,000.
• Aptiv beat quarterly earnings and revenue expectations, reporting EPS of $1.42 versus estimates of $1.33 and revenue of $3.20 billion, up 2.3% year over year.
• Analysts’ consensus rating is Moderate Buy with a $69.02 average price target, though several firms recently lowered their targets. Aptiv also said it is expanding its robotics partnerships.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Aptiv PLC (NYSE:APTV - Free Report) by 97.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,435 shares of the auto parts company's stock after selling 446,236 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in Aptiv were worth $535,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new position in shares of Aptiv in the second quarter worth $29,000. Eastern Bank grew its stake in Aptiv by 702.9% during the second quarter. Eastern Bank now owns 546 shares of the auto parts company's stock valued at $34,000 after acquiring an additional 478 shares in the last quarter. Evelyn Partners Investment Management Services Ltd grew its stake in Aptiv by 108.7% during the first quarter. Evelyn Partners Investment Management Services Ltd now owns 576 shares of the auto parts company's stock valued at $40,000 after acquiring an additional 300 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in Aptiv during the third quarter valued at $32,000. Finally, Oslo Pensjonsforsikring AS bought a new stake in Aptiv in the 1st quarter valued at $54,000. 94.21% of the stock is owned by hedge funds and other institutional investors.

Aptiv News Summary

Here are the key news stories impacting Aptiv this week:

• Positive Sentiment: Aptiv said it is accelerating its robotics expansion with industry partners, a potential opportunity to broaden growth beyond its core automotive business. Aptiv: Accelerates Robotics Expansion With Industry Partners
• Positive Sentiment: Citigroup lowered its price target to $68 from $77 but maintained a Buy rating; the new target implies 72.2% upside from the cited share price. This signals continued optimism, although the reduced target reflects a more cautious valuation. Citigroup stock recommendations
• Neutral Sentiment: Wall Street analysts are described as moderately optimistic despite Aptiv’s substantial underperformance versus the broader market over the past year. Are Wall Street Analysts Predicting Aptiv Stock Will Climb or Sink?
• Negative Sentiment: Several firms lowered their price targets, including Goldman Sachs, which cut its target to $54, and TD Cowen, which reduced its target to $72. Morgan Stanley and RBC also lowered targets, adding to the cautious tone around valuation. Goldman Sachs lowers Aptiv price target TD Cowen cuts Aptiv price target Morgan Stanley lowers Aptiv price target RBC lowers Aptiv price target

Aptiv Trading Up 0.1%

APTV stock opened at $39.48 on Monday. The firm has a fifty day moving average price of $44.13 and a 200 day moving average price of $58.97. Aptiv PLC has a fifty-two week low of $39.40 and a fifty-two week high of $88.93. The firm has a market cap of $7.99 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 0.77 and a beta of 1.43. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.26 and a current ratio of 1.97.

Aptiv (NYSE:APTV - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The auto parts company reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.33 by $0.09. Aptiv had a net margin of 4.60% and a return on equity of 15.44%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.17 billion. During the same quarter in the prior year, the firm earned $2.17 earnings per share. Aptiv's revenue was up 2.3% on a year-over-year basis. Sell-side analysts anticipate that Aptiv PLC will post 5.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on APTV shares. Citigroup decreased their price target on shares of Aptiv from $77.00 to $68.00 and set a "buy" rating on the stock in a research note on Friday. Evercore restated an "outperform" rating and set a $70.00 price objective on shares of Aptiv in a research report on Monday, August 10th. TD Cowen reduced their target price on Aptiv from $77.00 to $72.00 and set a "buy" rating on the stock in a report on Wednesday, November 4th. Fox Advisors cut Aptiv from an "overweight" rating to an "equal weight" rating in a report on Wednesday, August 5th. Finally, Zacks Research upgraded Aptiv from a "strong sell" rating to a "hold" rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.02.

Aptiv Company Profile

Aptiv plc is a global automotive technology supplier that develops software, electrical systems and components for vehicle manufacturers. Its products and services support vehicle connectivity, safety, electrification and automation.

The company's offerings include vehicle electrical architectures, wiring and connection systems, advanced driver-assistance technologies, and software and computing platforms. Aptiv serves automakers and other customers across multiple regions worldwide.

Aptiv took its current name in 2017, when Delphi Automotive separated its powertrain business, which became Delphi Technologies.

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