Bank of New York Mellon Corp Has $80.94 Million Holdings in Aptiv PLC $APTV

Key Points

• Bank of New York Mellon cut its Aptiv stake by 19.9% in the fourth quarter, selling 264,976 shares and leaving it with 1,063,793 shares valued at about $80.9 million.
• Aptiv reported better-than-expected quarterly results, with EPS of $1.71 versus the $1.62 estimate and revenue of $5.09 billion, while revenue rose 5.4% year over year.
• Analyst sentiment remains generally positive despite some lower price targets, with Aptiv holding a Moderate Buy consensus and an average price target of $82.33.

Bank of New York Mellon Corp decreased its position in Aptiv PLC (NYSE:APTV - Free Report) by 19.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,063,793 shares of the auto parts company's stock after selling 264,976 shares during the period. Bank of New York Mellon Corp owned 0.49% of Aptiv worth $80,944,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in APTV. Westpac Banking Corp increased its stake in shares of Aptiv by 6.6% during the 4th quarter. Westpac Banking Corp now owns 1,905 shares of the auto parts company's stock worth $145,000 after purchasing an additional 118 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its stake in shares of Aptiv by 2.3% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 6,776 shares of the auto parts company's stock worth $584,000 after purchasing an additional 151 shares during the last quarter. Benjamin Edwards Inc. increased its stake in shares of Aptiv by 0.5% during the 4th quarter. Benjamin Edwards Inc. now owns 34,728 shares of the auto parts company's stock worth $2,642,000 after purchasing an additional 156 shares during the last quarter. Unified Investment Management increased its stake in shares of Aptiv by 1.3% during the 4th quarter. Unified Investment Management now owns 12,384 shares of the auto parts company's stock worth $942,000 after purchasing an additional 161 shares during the last quarter. Finally, CI Investments Inc. increased its holdings in shares of Aptiv by 11.6% in the third quarter. CI Investments Inc. now owns 1,564 shares of the auto parts company's stock worth $135,000 after buying an additional 163 shares during the period. Hedge funds and other institutional investors own 94.21% of the company's stock.

Insider Transactions at Aptiv

In related news, EVP Katherine H. Ramundo sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $78.30, for a total value of $156,600.00. Following the sale, the executive vice president owned 163,752 shares in the company, valued at approximately $12,821,781.60. This trade represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company's stock.

Aptiv Trading Up 1.2%

NYSE:APTV opened at $69.45 on Tuesday. The company's 50 day moving average price is $60.76 and its 200-day moving average price is $71.49. Aptiv PLC has a 52 week low of $51.68 and a 52 week high of $88.93. 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 has a market cap of $14.70 billion, a price-to-earnings ratio of 41.09, a PEG ratio of 1.14 and a beta of 1.45.

Aptiv (NYSE:APTV - Get Free Report) last issued its earnings results on Wednesday, May 6th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.09. Aptiv had a net margin of 1.77% and a return on equity of 17.83%. The company had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $5.03 billion. During the same quarter last year, the company posted $1.69 earnings per share. The firm's quarterly revenue was up 5.4% on a year-over-year basis. On average, equities research analysts forecast that Aptiv PLC will post 6.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on APTV shares. UBS Group reduced their price target on shares of Aptiv from $97.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 2nd. Weiss Ratings upgraded shares of Aptiv from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, May 6th. BNP Paribas Exane cut their price objective on shares of Aptiv from $107.00 to $83.00 and set an "outperform" rating on the stock in a report on Tuesday, April 14th. JPMorgan Chase & Co. upped their price objective on shares of Aptiv from $83.00 to $84.00 and gave the stock an "overweight" rating in a report on Thursday, May 14th. Finally, Bank of America initiated coverage on shares of Aptiv in a report on Wednesday, March 4th. They issued a "buy" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Aptiv presently has a consensus rating of "Moderate Buy" and an average price target of $82.33.

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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