Private Management Group Inc. Makes New Investment in Aptiv PLC $APTV

Key Points

• Private Management Group opened a new Aptiv position, buying 680,948 shares worth about $29.3 million, or roughly 0.33% of the company. Institutional investors collectively own 94.21% of Aptiv’s stock.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $69.02, although several firms recently lowered their targets.
• Aptiv beat quarterly estimates with EPS of $1.42 versus $1.33 expected and revenue of $3.20 billion versus $3.17 billion expected; revenue grew 2.3% year over year.

Private Management Group Inc. purchased a new stake in Aptiv PLC (NYSE:APTV - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 680,948 shares of the auto parts company's stock, valued at approximately $29,294,000. Private Management Group Inc. owned approximately 0.33% of Aptiv at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Squarepoint Ops LLC lifted its position in Aptiv by 238.9% during the 2nd quarter. Squarepoint Ops LLC now owns 519,044 shares of the auto parts company's stock worth $31,859,000 after acquiring an additional 365,893 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Aptiv in the 2nd quarter worth approximately $27,364,000. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in Aptiv in the 1st quarter worth approximately $17,765,000. Wedge Capital Management L L P NC grew its position in Aptiv by 32.4% in the second quarter. Wedge Capital Management L L P NC now owns 197,161 shares of the auto parts company's stock valued at $12,102,000 after acquiring an additional 48,247 shares in the last quarter. Finally, Lombard Odier Asset Management Europe Ltd acquired a new stake in Aptiv in the first quarter valued at approximately $9,965,000. Institutional investors and hedge funds own 94.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on APTV. Morgan Stanley dropped their price objective on shares of Aptiv from $55.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Wednesday, November 4th. Barclays decreased their target price on shares of Aptiv from $60.00 to $53.00 and set an "overweight" rating for the company in a research note on Wednesday, November 4th. The Goldman Sachs Group lowered their price target on shares of Aptiv from $61.00 to $54.00 and set a "buy" rating for the company in a report on Wednesday, November 4th. UBS Group dropped their price target on shares of Aptiv from $62.00 to $57.00 and set a "buy" rating on the stock in a research note on Wednesday, October 7th. Finally, Benchmark raised Aptiv to a "strong-buy" rating in a report on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $69.02.

Aptiv Stock Up 1.4%

NYSE:APTV opened at $39.99 on Tuesday. The company has a market capitalization of $8.10 billion, a price-to-earnings ratio of 6.53, a price-to-earnings-growth ratio of 0.84 and a beta of 1.43. Aptiv PLC has a one year low of $39.40 and a one year high of $88.93. The stock has a 50-day simple moving average of $44.01 and a 200 day simple moving average of $58.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.33 and a current ratio of 1.97.

Aptiv (NYSE:APTV - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The auto parts company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.09. Aptiv had a return on equity of 15.44% and a net margin of 4.60%. The firm had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.17 billion. During the same quarter in the prior year, the firm posted $2.17 earnings per share. Aptiv's revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts predict that Aptiv PLC will post 5.64 EPS for the current fiscal year.

Aptiv Profile

Aptiv plc is a global automotive technology supplier that develops software, electrical systems and components for vehicle manufacturers. Its products and services support vehicle connectivity, safety, electrification and automation.

The company's offerings include vehicle electrical architectures, wiring and connection systems, advanced driver-assistance technologies, and software and computing platforms. Aptiv serves automakers and other customers across multiple regions worldwide.

Aptiv took its current name in 2017, when Delphi Automotive separated its powertrain business, which became Delphi Technologies.

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