Pacer Advisors Inc. Acquires 1,872,571 Shares of Aptiv PLC (NYSE:APTV)

Key Points

• Pacer Advisors Inc. significantly increased its holdings in Aptiv PLC by 5,379.7%, acquiring 1,872,571 shares to hold a total of 1,907,379 shares, valued at approximately $113.5 million.
• Several analysts have upgraded their price targets for Aptiv, with Wells Fargo raising its target from $85 to $86 and Bank of America from $80 to $85, leading to an overall consensus price target of $81.63.
• Aptiv reported earnings of $1.69 per share for the last quarter, exceeding analyst expectations, although revenue decreased by 1.6% year-over-year.

Pacer Advisors Inc. boosted its position in Aptiv PLC (NYSE:APTV - Free Report) by 5,379.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,907,379 shares of the auto parts company's stock after acquiring an additional 1,872,571 shares during the period. Pacer Advisors Inc. owned 0.83% of Aptiv worth $113,489,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in APTV. AustralianSuper Pty Ltd bought a new stake in Aptiv in the 1st quarter worth $117,260,000. Norges Bank purchased a new stake in shares of Aptiv in the 4th quarter worth about $106,492,000. Pictet Asset Management Holding SA lifted its position in shares of Aptiv by 1,018.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,690,845 shares of the auto parts company's stock worth $102,262,000 after purchasing an additional 1,539,724 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Aptiv by 11.9% in the 4th 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. Finally, Franklin Resources Inc. lifted its position in shares of Aptiv by 29.7% in the 4th quarter. Franklin Resources Inc. now owns 6,146,947 shares of the auto parts company's stock worth $371,767,000 after purchasing an additional 1,408,433 shares during the period. Institutional investors own 94.21% of the company's stock.

Aptiv Stock Performance

Shares of APTV stock traded down $1.51 during trading hours on Tuesday, reaching $68.36. The company had a trading volume of 644,993 shares, compared to its average volume of 2,998,252. The business has a fifty day moving average price of $68.77 and a 200-day moving average price of $63.70. Aptiv PLC has a one year low of $47.19 and a one year high of $80.95. The firm has a market cap of $14.88 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 0.78 and a beta of 1.46. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.61.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on APTV. Barclays raised their target price on shares of Aptiv from $65.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. UBS Group raised their target price on shares of Aptiv from $66.00 to $75.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Wolfe Research cut shares of Aptiv from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, July 2nd. Wells Fargo & Company lifted their price target on shares of Aptiv from $85.00 to $86.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Finally, Wall Street Zen raised shares of Aptiv to a "hold" rating in a research report on Saturday, June 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $81.63.

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.