LPL Financial LLC Sells 59,173 Shares of Aptiv PLC (NYSE:APTV)

Key Points

• LPL Financial LLC has decreased its stake in Aptiv PLC by 16.9%, holding approximately 0.13% of the company worth $17.27 million after selling 59,173 shares.
• Analysts have raised their price targets on Aptiv, with Wells Fargo increasing its target from $86 to $89 and JPMorgan Chase increasing theirs from $85 to $90, reflecting a general optimism for the stock.
• Aptiv reported $2.12 EPS for the last quarter, significantly beating the consensus estimate of $1.83, and its revenue was up 3.1% year-over-year, totaling $5.21 billion.

LPL Financial LLC reduced its holdings in shares of Aptiv PLC (NYSE:APTV - Free Report) by 16.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 290,234 shares of the auto parts company's stock after selling 59,173 shares during the period. LPL Financial LLC owned about 0.13% of Aptiv worth $17,269,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of APTV. Mather Group LLC. grew its holdings in shares of Aptiv by 155.2% in the first quarter. Mather Group LLC. now owns 633 shares of the auto parts company's stock worth $38,000 after purchasing an additional 385 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Aptiv by 201.7% in the first quarter. Versant Capital Management Inc now owns 703 shares of the auto parts company's stock worth $42,000 after purchasing an additional 470 shares during the last quarter. UMB Bank n.a. bought a new position in shares of Aptiv in the first quarter worth approximately $48,000. Blue Trust Inc. grew its holdings in shares of Aptiv by 48.4% in the first quarter. Blue Trust Inc. now owns 1,245 shares of the auto parts company's stock worth $74,000 after purchasing an additional 406 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Aptiv by 164.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,363 shares of the auto parts company's stock worth $81,000 after purchasing an additional 848 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on APTV. Wolfe Research cut shares of Aptiv from an "outperform" rating to a "peer perform" rating in a report on Wednesday, July 2nd. Piper Sandler set a $70.00 price target on shares of Aptiv and gave the company a "neutral" rating in a report on Thursday, May 22nd. Morgan Stanley cut their price target on shares of Aptiv from $60.00 to $55.00 and set an "underweight" rating on the stock in a report on Monday, May 19th. Bank of America lifted 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, Oppenheimer reiterated an "outperform" rating and issued a $88.00 price target (up previously from $84.00) on shares of Aptiv in a report on Monday, August 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $81.50.

Aptiv Stock Up 1.6%

Shares of APTV traded up $1.05 during trading hours on Friday, hitting $66.85. The company had a trading volume of 1,948,263 shares, compared to its average volume of 2,645,704. The firm has a fifty day moving average price of $68.61 and a 200-day moving average price of $63.98. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.24 and a current ratio of 1.76. The stock has a market capitalization of $14.56 billion, a price-to-earnings ratio of 15.30, a P/E/G ratio of 0.74 and a beta of 1.48. Aptiv PLC has a 52-week low of $47.19 and a 52-week high of $75.41.

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 firm had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.02 billion. Aptiv had a return on equity of 18.46% and a net margin of 5.12%. Aptiv's quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.58 EPS. On average, equities research analysts forecast 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.