Firetrail Investments PTY Ltd. Purchases New Position in Aptiv PLC (NYSE:APTV)

Key Points

• Firetrail Investments PTY Ltd. has made a significant investment in Aptiv PLC, acquiring 184,650 shares worth approximately $11.1 million, making Aptiv the company's 16th largest holding.
• Several institutional investors have also increased their stakes in Aptiv, notably JPMorgan Chase & Co., which raised its holdings by 25.4%, now owning over 2.7 million shares.
• Aptiv reported better-than-expected quarterly earnings of $1.69 per share, exceeding the consensus estimate of $1.55, despite a 1.6% decrease in revenue compared to the previous year.

Firetrail Investments PTY Ltd. bought a new position in shares of Aptiv PLC (NYSE:APTV - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 184,650 shares of the auto parts company's stock, valued at approximately $11,106,000. Aptiv makes up approximately 3.2% of Firetrail Investments PTY Ltd.'s portfolio, making the stock its 16th largest position. Firetrail Investments PTY Ltd. owned about 0.08% of Aptiv as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of APTV. Massachusetts Financial Services Co. MA increased its stake in shares of Aptiv by 11.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 14,289,126 shares of the auto parts company's stock worth $864,206,000 after purchasing an additional 1,517,104 shares during the period. FMR LLC grew its position in Aptiv by 1.7% during the fourth quarter. FMR LLC now owns 7,775,251 shares of the auto parts company's stock worth $470,247,000 after buying an additional 126,882 shares in the last quarter. Franklin Resources Inc. grew its position in Aptiv by 29.7% during the fourth quarter. Franklin Resources Inc. now owns 6,146,947 shares of the auto parts company's stock worth $371,767,000 after buying an additional 1,408,433 shares in the last quarter. JPMorgan Chase & Co. grew its position in Aptiv by 25.4% during the fourth quarter. JPMorgan Chase & Co. now owns 2,724,091 shares of the auto parts company's stock worth $168,619,000 after buying an additional 552,066 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Aptiv by 20.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,541,024 shares of the auto parts company's stock worth $153,674,000 after buying an additional 433,857 shares in the last quarter. Institutional investors own 94.21% of the company's stock.

Wall Street Analysts Forecast Growth

APTV has been the topic of a number of research analyst reports. UBS Group raised their target price on Aptiv from $66.00 to $75.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Guggenheim downgraded Aptiv from a "buy" rating to a "neutral" rating in a report on Wednesday, June 4th. Wall Street Zen raised Aptiv to a "hold" rating in a report on Saturday, June 21st. Royal Bank Of Canada raised their price objective on Aptiv from $60.00 to $77.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Piper Sandler set a $70.00 price objective on Aptiv and gave the company a "neutral" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.63.

Aptiv Trading Up 0.7%

Shares of NYSE:APTV traded up $0.47 on Friday, reaching $70.93. 1,801,988 shares of the company traded hands, compared to its average volume of 2,031,056. The business's 50-day simple moving average is $68.72 and its 200 day simple moving average is $63.61. Aptiv PLC has a 52 week low of $47.19 and a 52 week high of $80.95. The stock has a market capitalization of $15.44 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 0.78 and a beta of 1.46. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83.

Aptiv (NYSE:APTV - Get Free Report) last posted its earnings results on Thursday, May 1st. The auto parts company reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.14. The company had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.78 billion. Aptiv had a net margin of 7.93% and a return on equity of 17.24%. Aptiv's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.16 earnings per share. As a group, equities analysts anticipate that Aptiv PLC will post 7.2 EPS for the current fiscal year.

About Aptiv

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.