Mackenzie Financial Corp Buys 24,643 Shares of Aptiv PLC (NYSE:APTV)

Key Points

• Mackenzie Financial Corp increased its stake in Aptiv PLC by 25.1% in the first quarter, now owning approximately 122,884 shares valued at $7.31 million.
• Aptiv's stock received various upgrades from analysts, with price targets ranging from $70.00 to $86.00 and an average rating of "Moderate Buy."
• The company reported a second-quarter earnings per share of $2.12, surpassing analyst estimates and showcasing a 3.1% year-over-year revenue increase to $5.21 billion.

Mackenzie Financial Corp raised its position in Aptiv PLC (NYSE:APTV - Free Report) by 25.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,884 shares of the auto parts company's stock after buying an additional 24,643 shares during the period. Mackenzie Financial Corp owned 0.06% of Aptiv worth $7,312,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in APTV. Mather Group LLC. increased its stake in Aptiv by 155.2% in the first quarter. Mather Group LLC. now owns 633 shares of the auto parts company's stock valued at $38,000 after purchasing an additional 385 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Aptiv by 201.7% in the first quarter. Versant Capital Management Inc now owns 703 shares of the auto parts company's stock valued at $42,000 after buying an additional 470 shares during the period. UMB Bank n.a. acquired a new position in Aptiv during the first quarter worth $48,000. Blue Trust Inc. boosted its holdings in Aptiv by 48.4% during the first quarter. Blue Trust Inc. now owns 1,245 shares of the auto parts company's stock worth $74,000 after purchasing an additional 406 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Aptiv by 164.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,363 shares of the auto parts company's stock worth $81,000 after purchasing an additional 848 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Aptiv Stock Down 0.2%

APTV stock traded down $0.11 during midday trading on Tuesday, reaching $64.75. 5,704,525 shares of the company's stock traded hands, compared to its average volume of 3,043,401. The company has a market cap of $14.10 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 0.73 and a beta of 1.48. The firm's fifty day moving average price is $68.78 and its 200-day moving average price is $63.90. The company has a quick ratio of 1.24, a current ratio of 1.76 and a debt-to-equity ratio of 0.79. Aptiv PLC has a 52 week low of $47.19 and a 52 week high of $75.41.

Aptiv (NYSE:APTV - Get Free Report) last posted its earnings results on Thursday, July 31st. The auto parts company reported $2.12 earnings per share (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 during the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the prior year, the business posted $1.58 EPS. The business's revenue was up 3.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Aptiv PLC will post 7.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on APTV shares. Wall Street Zen upgraded shares of Aptiv to a "hold" rating in a report on Saturday, June 21st. JPMorgan Chase & Co. upped their price target on shares of Aptiv from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Friday. Bank of America upped their price target on shares of Aptiv from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Wolfe Research lowered shares of Aptiv from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, July 2nd. Finally, Morgan Stanley dropped their price objective on shares of Aptiv from $60.00 to $55.00 and set an "underweight" rating on the stock in a research report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Aptiv presently has a consensus rating of "Moderate Buy" and an average target price of $81.50.

Aptiv Company 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.