US Bancorp DE Sells 68,531 Shares of Aptiv PLC (NYSE:APTV)

Key Points

• US Bancorp DE reduced its stake in Aptiv PLC by 36.1%, selling 68,531 shares, and now owns 121,533 shares worth approximately $7.23 million.
• Several institutional investors increased their stakes in Aptiv, with GAMMA Investing LLC making the largest jump at 348.2% in the first quarter.
• Analysts have raised their price targets for Aptiv, with estimates now ranging from $85.00 to $92.00, reflecting confidence in the company's performance and potential growth.

US Bancorp DE trimmed its position in Aptiv PLC (NYSE:APTV - Free Report) by 36.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 121,533 shares of the auto parts company's stock after selling 68,531 shares during the period. US Bancorp DE owned about 0.06% of Aptiv worth $7,231,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd grew its position in Aptiv by 11.4% during the fourth quarter. Covestor Ltd now owns 1,819 shares of the auto parts company's stock valued at $110,000 after buying an additional 186 shares during the period. Stephens Inc. AR grew its position in shares of Aptiv by 5.4% during the 1st quarter. Stephens Inc. AR now owns 3,941 shares of the auto parts company's stock valued at $234,000 after acquiring an additional 201 shares during the period. OLD Second National Bank of Aurora grew its position in shares of Aptiv by 1.0% during the 1st quarter. OLD Second National Bank of Aurora now owns 24,547 shares of the auto parts company's stock valued at $1,461,000 after acquiring an additional 239 shares during the period. ProShare Advisors LLC raised its holdings in shares of Aptiv by 0.5% in the 4th quarter. ProShare Advisors LLC now owns 51,722 shares of the auto parts company's stock worth $3,128,000 after purchasing an additional 248 shares during the period. Finally, Rafferty Asset Management LLC grew its holdings in Aptiv by 1.3% during the fourth quarter. Rafferty Asset Management LLC now owns 25,669 shares of the auto parts company's stock valued at $1,552,000 after purchasing an additional 341 shares during the period. Hedge funds and other institutional investors own 94.21% of the company's stock.

Wall Street Analysts Forecast Growth

APTV has been the topic of several research reports. Piper Sandler set a $70.00 target price on Aptiv and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Bank of America upped their price objective on shares of Aptiv from $80.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 16th. Morgan Stanley reduced their target price on shares of Aptiv from $60.00 to $55.00 and set an "underweight" rating for the company in a research note on Monday, May 19th. Wells Fargo & Company upped their price target on shares of Aptiv from $86.00 to $89.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Aptiv from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $81.50.

Aptiv Price Performance

Shares of APTV traded up $0.39 during midday trading on Wednesday, reaching $65.17. The stock had a trading volume of 2,169,435 shares, compared to its average volume of 3,048,043. The company has a market capitalization of $14.19 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 0.72 and a beta of 1.48. The company has a current ratio of 1.76, a quick ratio of 1.24 and a debt-to-equity ratio of 0.79. Aptiv PLC has a 12-month low of $47.19 and a 12-month high of $75.41. The company's 50-day moving average is $68.71 and its 200 day moving average is $63.91.

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