Citigroup Inc. Increases Stock Position in Aptiv PLC (NYSE:APTV)

Key Points

• Citigroup Inc. increased its position in Aptiv PLC by 36.1% during the first quarter, now owning approximately 0.34% of the company with shares valued at $44.3 million.
• Goldman Sachs Group Inc. raised its stake in Aptiv by 242.7% during the same period, owning over 8.5 million shares, valued at $509.4 million.
• Aptiv reported $2.12 earnings per share for the last quarter, beating expectations by 29 cents, alongside a quarterly revenue of $5.21 billion, surpassing estimates of $5.02 billion.

Citigroup Inc. raised its position in shares of Aptiv PLC (NYSE:APTV - Free Report) by 36.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 744,789 shares of the auto parts company's stock after purchasing an additional 197,493 shares during the quarter. Citigroup Inc. owned 0.34% of Aptiv worth $44,315,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. CenterBook Partners LP lifted its position in shares of Aptiv by 113.7% during the 1st quarter. CenterBook Partners LP now owns 12,333 shares of the auto parts company's stock worth $734,000 after buying an additional 6,563 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Aptiv by 0.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,520,372 shares of the auto parts company's stock valued at $90,462,000 after purchasing an additional 8,877 shares in the last quarter. ASR Vermogensbeheer N.V. bought a new position in Aptiv during the 1st quarter valued at about $8,900,000. Goldman Sachs Group Inc. increased its holdings in shares of Aptiv by 242.7% during the first quarter. Goldman Sachs Group Inc. now owns 8,560,781 shares of the auto parts company's stock worth $509,366,000 after buying an additional 6,062,438 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its holdings in shares of Aptiv by 15.5% in the 1st quarter. Westwood Holdings Group Inc. now owns 265,983 shares of the auto parts company's stock worth $15,826,000 after acquiring an additional 35,616 shares in the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley boosted their target price on Aptiv from $55.00 to $60.00 and gave the stock an "underweight" rating in a report on Tuesday. Wall Street Zen upgraded shares of Aptiv to a "hold" rating in a research report on Saturday, June 21st. Bank of America lifted their target price on shares of Aptiv from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Royal Bank Of Canada lifted their target price on shares of Aptiv from $85.00 to $92.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Finally, Piper Sandler set a $70.00 target price on shares of Aptiv and gave the stock a "neutral" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Aptiv presently has an average rating of "Moderate Buy" and an average price target of $81.81.

Aptiv Stock Up 4.1%

NYSE:APTV traded up $2.97 during trading hours on Wednesday, reaching $74.67. The company had a trading volume of 2,878,980 shares, compared to its average volume of 3,042,697. The company has a quick ratio of 1.24, a current ratio of 1.76 and a debt-to-equity ratio of 0.79. The firm has a market cap of $16.26 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 0.75 and a beta of 1.48. The business's 50-day simple moving average is $68.73 and its two-hundred day simple moving average is $64.07. Aptiv PLC has a twelve month low of $47.19 and a twelve month high of $75.41.

Aptiv (NYSE:APTV - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The auto parts company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. Aptiv had a net margin of 5.12% and a return on equity of 18.46%. The company had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same period last year, the firm earned $1.58 earnings per share. The firm's revenue was up 3.1% on a year-over-year basis. On average, equities analysts expect that Aptiv PLC will post 7.2 earnings per share for the current year.

Aptiv Profile

Aptiv PLC engages in design, manufacture, and sale of vehicle components in North America, Europe, Middle East, Africa, the Asia Pacific, South America, and internationally. The company provides electrical, electronic, and safety technology solutions to the automotive and commercial vehicle markets. It operates through two segments, Signal and Power Solutions, and Advanced Safety and User Experience.