Sumitomo Mitsui Trust Group Inc. Sells 118,790 Shares of Aptiv PLC (NYSE:APTV)

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Aptiv PLC (NYSE:APTV - Free Report) by 15.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 648,640 shares of the auto parts company's stock after selling 118,790 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.28% of Aptiv worth $38,594,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Diametric Capital LP acquired a new stake in shares of Aptiv in the fourth quarter valued at about $972,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Aptiv by 8.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 474,151 shares of the auto parts company's stock valued at $28,700,000 after buying an additional 35,426 shares during the period. Johnson Investment Counsel Inc. bought a new stake in shares of Aptiv in the first quarter valued at about $305,000. Sequoia Financial Advisors LLC lifted its stake in shares of Aptiv by 26.8% in the first quarter. Sequoia Financial Advisors LLC now owns 4,754 shares of the auto parts company's stock valued at $283,000 after buying an additional 1,006 shares during the period. Finally, HighTower Advisors LLC lifted its stake in shares of Aptiv by 4.1% in the fourth quarter. HighTower Advisors LLC now owns 14,663 shares of the auto parts company's stock valued at $887,000 after buying an additional 577 shares during the period. 94.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Aptiv to a "hold" rating in a research note on Saturday, June 21st. Wells Fargo & Company increased their target price on shares of Aptiv from $85.00 to $86.00 and gave the company an "overweight" rating in a research note on Tuesday. TD Cowen assumed coverage on shares of Aptiv in a research note on Friday, March 7th. They issued a "buy" rating and a $90.00 target price for the company. Guggenheim cut shares of Aptiv from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 4th. Finally, Barclays increased their target price on shares of Aptiv from $55.00 to $65.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $81.61.

Aptiv Price Performance

APTV stock traded up $0.23 during midday trading on Friday, reaching $72.42. 1,048,551 shares of the company's stock traded hands, compared to its average volume of 3,392,648. The company has a 50-day simple moving average of $66.19 and a two-hundred day simple moving average of $62.51. Aptiv PLC has a 1-year low of $47.19 and a 1-year high of $80.95. The company has a market cap of $15.77 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 0.81 and a beta of 1.46. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 0.83.

Aptiv (NYSE:APTV - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The auto parts company reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.55 by $0.14. Aptiv had a return on equity of 17.24% and a net margin of 7.93%. The firm had revenue of $4.83 billion during the quarter, compared to analysts' expectations of $4.78 billion. During the same period last year, the firm posted $1.16 EPS. The business's revenue was down 1.6% on a year-over-year basis. On average, analysts anticipate 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.