Pinnacle Associates Ltd. Decreases Holdings in Aptiv PLC (NYSE:APTV)

Key Points

• Pinnacle Associates Ltd. reduced its stake in Aptiv PLC by 30.5%, selling 4,034 shares and holding 9,208 shares worth approximately $548,000 by the end of the first quarter.
• Aptiv reported earnings of $1.69 per share for the latest quarter, surpassing analysts' estimates, with revenue of $4.83 billion, though this represented a 1.6% decline year-over-year.
• Analysts have set a target price range for Aptiv shares between $75.00 and $86.00, with a consensus rating of "Moderate Buy" and an average price target of $81.63.

Pinnacle Associates Ltd. reduced its position in Aptiv PLC (NYSE:APTV - Free Report) by 30.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,208 shares of the auto parts company's stock after selling 4,034 shares during the quarter. Pinnacle Associates Ltd.'s holdings in Aptiv were worth $548,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of APTV. Massachusetts Financial Services Co. MA increased its stake in Aptiv by 11.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 14,289,126 shares of the auto parts company's stock valued at $864,206,000 after purchasing an additional 1,517,104 shares during the last quarter. 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. boosted its holdings 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 acquiring an additional 1,408,433 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Aptiv by 25.4% during the 4th quarter. JPMorgan Chase & Co. now owns 2,724,091 shares of the auto parts company's stock valued at $168,619,000 after acquiring an additional 552,066 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Aptiv by 20.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,541,024 shares of the auto parts company's stock worth $153,674,000 after purchasing an additional 433,857 shares during the period. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Aptiv Stock Up 4.4%

Shares of NYSE APTV traded up $2.97 during midday trading on Thursday, hitting $69.65. The stock had a trading volume of 1,365,461 shares, compared to its average volume of 3,011,067. The business's 50 day moving average is $68.78 and its 200-day moving average is $63.75. The company has a market cap of $15.16 billion, a P/E ratio of 11.47, a PEG ratio of 0.78 and a beta of 1.46. Aptiv PLC has a 52 week low of $47.19 and a 52 week high of $80.95. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 0.83.

Aptiv (NYSE:APTV - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The auto parts company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. Aptiv had a net margin of 7.93% and a return on equity of 17.24%. During the same quarter in the prior year, the business earned $1.58 EPS. The company's revenue was up 3.1% compared to the same quarter last year. As a group, analysts predict that Aptiv PLC will post 7.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on APTV. Guggenheim cut shares of Aptiv from a "buy" rating to a "neutral" rating in a report on Wednesday, June 4th. Wall Street Zen raised shares of Aptiv to a "hold" rating in a research note on Saturday, June 21st. Piper Sandler set a $70.00 price objective on shares of Aptiv and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. UBS Group upped their price objective on shares of Aptiv from $66.00 to $75.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Finally, Barclays upped their target price on shares of Aptiv from $65.00 to $85.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $81.63.

Aptiv Profile

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.