Arrowstreet Capital Limited Partnership Decreases Holdings in Aptiv PLC $APTV

Key Points

• Arrowstreet Capital reduced its Aptiv stake by 19% in the first quarter, selling 98,037 shares and retaining 418,546 shares valued at approximately $29.1 million. Institutional investors collectively own 94.21% of Aptiv.
• Aptiv’s shares opened at $58.00, down 2.4%, and remain near the lower end of their 52-week range of $51.68 to $88.93. The company recently beat quarterly earnings and revenue estimates, reporting $1.71 in EPS and $5.09 billion in revenue.
• Analyst sentiment remains positive, with 22 Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $82.50, despite several brokerages cutting their targets.

Arrowstreet Capital Limited Partnership cut its holdings in shares of Aptiv PLC (NYSE:APTV - Free Report) by 19.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 418,546 shares of the auto parts company's stock after selling 98,037 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.20% of Aptiv worth $29,064,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in APTV. Larson Financial Group LLC lifted its position in Aptiv by 240.0% in the fourth quarter. Larson Financial Group LLC now owns 357 shares of the auto parts company's stock valued at $27,000 after purchasing an additional 252 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new stake in Aptiv during the 4th quarter valued at $33,000. DV Equities LLC bought a new stake in Aptiv in the 4th quarter worth $33,000. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its position in shares of Aptiv by 60.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the auto parts company's stock valued at $37,000 after acquiring an additional 180 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in shares of Aptiv by 452.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 486 shares of the auto parts company's stock worth $29,000 after buying an additional 398 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company's stock.

Insider Activity at Aptiv

In other news, EVP Katherine H. Ramundo sold 2,000 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $78.30, for a total value of $156,600.00. Following the transaction, the executive vice president directly owned 163,752 shares of the company's stock, valued at approximately $12,821,781.60. This trade represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on APTV. Wall Street Zen lowered shares of Aptiv from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. Royal Bank Of Canada lifted their price objective on Aptiv from $81.00 to $90.00 and gave the company an "outperform" rating in a research report on Monday, July 13th. HSBC lowered their price objective on Aptiv from $81.32 to $75.00 and set a "buy" rating for the company in a research report on Monday, April 27th. JPMorgan Chase & Co. lowered their price target on Aptiv from $84.00 to $75.00 and set an "overweight" rating for the company in a research report on Friday, July 10th. Finally, Barclays reduced their price target on shares of Aptiv from $77.00 to $73.00 and set an "overweight" rating for the company in a research report on Wednesday, May 6th. Twenty-two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Aptiv has a consensus rating of "Moderate Buy" and an average price target of $82.50.

Aptiv Trading Down 2.4%

APTV opened at $58.00 on Thursday. The company has a quick ratio of 1.57, a current ratio of 2.11 and a debt-to-equity ratio of 0.98. The stock's fifty day moving average is $62.09 and its two-hundred day moving average is $67.19. The company has a market capitalization of $12.27 billion, a P/E ratio of 34.32, a PEG ratio of 1.11 and a beta of 1.46. Aptiv PLC has a 52 week low of $51.68 and a 52 week high of $88.93.

Aptiv (NYSE:APTV - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.09. The business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.03 billion. Aptiv had a return on equity of 17.83% and a net margin of 1.77%.The business's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.69 EPS. Analysts forecast that Aptiv PLC will post 5.93 earnings per share for the current year.

About Aptiv

Aptiv plc is a global automotive technology company that develops safer, greener and more connected solutions for the mobility industry. The company designs and supplies advanced electrical architectures, electronic systems and software that enable vehicle connectivity, active safety, advanced driver-assistance systems (ADAS) and autonomous driving capabilities. Aptiv's customers include major automakers and mobility service providers seeking to integrate higher levels of automation, electrification and software-defined features into production vehicles and mobility platforms.

Product and service offerings span vehicle electrical systems and wiring, connectors and harnesses, high-voltage electrification components, power electronics and charging solutions, sensors and compute platforms that support ADAS and autonomous functions, and the software and services required to integrate and manage these systems.

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