PNC Financial Services Group Inc. Acquires 6,201 Shares of Aptiv PLC (NYSE:APTV)

Key Points

• PNC Financial Services Group Inc. increased its holdings in Aptiv PLC by 28.1%, acquiring an additional 6,201 shares for a total of 28,266 shares valued at approximately $1.68 million.
• Several institutional investors significantly boosted their stakes in Aptiv during the first quarter, with some increasing their holdings by over 348%.
• Aptiv reported strong quarterly earnings with an EPS of $2.12, surpassing estimates by $0.29, and the company saw a year-over-year revenue increase of 3.1%.

PNC Financial Services Group Inc. raised its holdings in Aptiv PLC (NYSE:APTV - Free Report) by 28.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,266 shares of the auto parts company's stock after acquiring an additional 6,201 shares during the period. PNC Financial Services Group Inc.'s holdings in Aptiv were worth $1,682,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of APTV. Principal Financial Group Inc. boosted its stake in shares of Aptiv by 3.5% during the first quarter. Principal Financial Group Inc. now owns 282,787 shares of the auto parts company's stock valued at $16,826,000 after purchasing an additional 9,552 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of Aptiv by 89.5% during the first 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 boosted its stake in shares of Aptiv by 348.2% during the first 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. Envestnet Asset Management Inc. boosted its stake in shares of Aptiv by 5.5% during the first 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. Finally, Cerity Partners LLC boosted its stake in shares of Aptiv by 144.4% during the first quarter. Cerity Partners LLC now owns 31,841 shares of the auto parts company's stock valued at $1,895,000 after purchasing an additional 18,813 shares in the last quarter. Institutional investors own 94.21% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on APTV shares. Wall Street Zen raised Aptiv to a "hold" rating in a research note on Saturday, June 21st. Wells Fargo & Company lifted their price objective on Aptiv from $86.00 to $89.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Barclays lifted their price objective on Aptiv from $65.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. UBS Group lifted their price objective on Aptiv from $66.00 to $75.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Finally, Bank of America lifted their price objective on Aptiv from $80.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Aptiv has a consensus rating of "Moderate Buy" and an average price target of $81.50.

Aptiv Price Performance

Shares of APTV opened at $66.85 on Friday. Aptiv PLC has a 52-week low of $47.19 and a 52-week high of $75.41. 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 business's 50 day moving average price is $68.61 and its two-hundred day moving average price is $63.99. The firm has a market cap of $14.56 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 0.75 and a beta of 1.48.

Aptiv (NYSE:APTV - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The auto parts company reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.02 billion. Aptiv had a return on equity of 18.46% and a net margin of 5.12%. The company's quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.58 earnings per share. On average, equities analysts anticipate that Aptiv PLC will post 7.2 EPS for the current year.

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.

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