HITE Hedge Asset Management LLC Sells 50,283 Shares of Aptiv PLC $APTV

Key Points

• HITE Hedge Asset Management LLC has reduced its holdings in Aptiv PLC by 10.3%, selling 50,283 shares, bringing its total to 438,223 shares, which now represents 1.6% of its portfolio.
• Goldman Sachs increased its holdings in Aptiv by 242.7%, acquiring over 6 million additional shares, now totaling approximately $509 million in value.
• Aptiv's quarterly earnings report showed earnings per share of $2.12, surpassing expectations, with a revenue of $5.21 billion, indicating a year-over-year increase of 3.1%.

HITE Hedge Asset Management LLC decreased its stake in Aptiv PLC (NYSE:APTV - Free Report) by 10.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 438,223 shares of the auto parts company's stock after selling 50,283 shares during the quarter. Aptiv makes up about 1.6% of HITE Hedge Asset Management LLC's holdings, making the stock its 22nd biggest position. HITE Hedge Asset Management LLC owned approximately 0.20% of Aptiv worth $26,074,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Middleton & Co. Inc. MA lifted its position in Aptiv by 63.1% in the 1st quarter. Middleton & Co. Inc. MA now owns 33,668 shares of the auto parts company's stock worth $2,003,000 after buying an additional 13,026 shares in the last quarter. Principal Financial Group Inc. lifted its position in Aptiv by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 282,787 shares of the auto parts company's stock worth $16,826,000 after buying an additional 9,552 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Aptiv by 89.5% during the 1st quarter. Crossmark Global Holdings Inc. now owns 22,411 shares of the auto parts company's stock valued at $1,333,000 after purchasing an additional 10,585 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Aptiv by 348.2% during the 1st quarter. GAMMA Investing LLC now owns 2,752 shares of the auto parts company's stock valued at $164,000 after purchasing an additional 2,138 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Aptiv by 5.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 303,652 shares of the auto parts company's stock valued at $18,067,000 after purchasing an additional 15,849 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company's stock.

Wall Street Analysts Forecast Growth

APTV has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price target on shares of Aptiv from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Friday, August 1st. UBS Group raised their price target on shares of Aptiv from $66.00 to $75.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Wells Fargo & Company raised their price target on shares of Aptiv from $86.00 to $89.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Bank of America raised their price target on shares of Aptiv from $80.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 16th. Finally, Wolfe Research downgraded shares of Aptiv from an "outperform" rating to a "peer perform" rating in a report on Wednesday, July 2nd. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $81.81.

Aptiv Stock Performance

NYSE APTV traded up $4.0050 during midday trading on Friday, hitting $78.3750. The company had a trading volume of 2,149,013 shares, compared to its average volume of 3,007,718. The company has a quick ratio of 1.24, a current ratio of 1.76 and a debt-to-equity ratio of 0.79. The stock has a market cap of $17.07 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 0.84 and a beta of 1.48. The firm has a fifty day simple moving average of $69.71 and a two-hundred day simple moving average of $64.65. Aptiv PLC has a fifty-two week low of $47.19 and a fifty-two week high of $78.44.

Aptiv (NYSE:APTV - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The auto parts company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.02 billion. Aptiv had a net margin of 5.12% and a return on equity of 18.46%. The business's quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the business posted $1.58 EPS. Aptiv has set its FY 2025 guidance at 7.300-7.600 EPS. Q3 2025 guidance at 1.600-1.800 EPS. Equities analysts forecast that Aptiv PLC will post 7.2 earnings per share 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.