First Trust Advisors LP Raises Stock Position in Aptiv PLC $APTV

Key Points

• First Trust Advisors LP increased its Aptiv stake by 23.1% in the first quarter, adding 449,145 shares and bringing its holding to 2.39 million shares worth about $166.2 million.
• Aptiv reported better-than-expected quarterly results, posting $1.71 EPS versus the $1.62 estimate and revenue of $5.09 billion, with sales up 5.4% year over year.
• Analysts remain broadly positive overall, with 22 Buy ratings on the stock, though some firms have recently cut price targets and Weiss Ratings downgraded Aptiv to sell.

First Trust Advisors LP boosted its stake in Aptiv PLC (NYSE:APTV - Free Report) by 23.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,394,019 shares of the auto parts company's stock after buying an additional 449,145 shares during the period. First Trust Advisors LP owned 1.13% of Aptiv worth $166,241,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of APTV. Larson Financial Group LLC boosted its position in shares of Aptiv by 240.0% in the 4th quarter. Larson Financial Group LLC now owns 357 shares of the auto parts company's stock worth $27,000 after purchasing an additional 252 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Aptiv by 452.3% in the first quarter. Geneos Wealth Management Inc. now owns 486 shares of the auto parts company's stock worth $29,000 after purchasing an additional 398 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new stake in shares of Aptiv in the 4th quarter worth $33,000. DV Equities LLC bought a new stake in shares of Aptiv during the 4th quarter valued at $33,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in Aptiv by 60.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the auto parts company's stock worth $37,000 after buying an additional 180 shares in the last quarter. Institutional investors own 94.21% of the company's stock.

Aptiv Trading Up 0.7%

Shares of APTV opened at $58.33 on Thursday. The company's fifty day moving average is $61.78 and its 200 day moving average is $68.05. Aptiv PLC has a fifty-two week low of $51.68 and a fifty-two week high of $88.93. The stock has a market capitalization of $12.34 billion, a PE ratio of 34.51, a P/E/G ratio of 1.08 and a beta of 1.46. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.57 and a current ratio of 2.11.

Aptiv (NYSE:APTV - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The auto parts company reported $1.71 EPS for the quarter, beating 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 business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same quarter last year, the business earned $1.69 earnings per share. Aptiv's quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts expect that Aptiv PLC will post 5.93 earnings per share for the current fiscal year.

Insider Activity at Aptiv

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

Analysts Set New Price Targets

Several research firms have recently issued reports on APTV. Weiss Ratings cut shares of Aptiv from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. dropped their target price on shares of Aptiv from $84.00 to $75.00 and set an "overweight" rating for the company in a research report on Friday, July 10th. Wells Fargo & Company reduced their price target on shares of Aptiv from $82.00 to $77.00 and set an "overweight" rating on the stock in a report on Thursday, June 25th. Robert W. Baird decreased their price target on shares of Aptiv from $105.00 to $74.00 and set an "outperform" rating on the stock in a research note on Thursday, April 2nd. Finally, President Capital started coverage on shares of Aptiv in a report on Wednesday, March 25th. They set a "buy" rating and a $82.50 price objective for the company. Twenty-two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $82.50.

Aptiv Company Profile

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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