Rathbones Group PLC Cuts Position in Aptiv PLC (NYSE:APTV)

Key Points

• Rathbones Group PLC reduced its stake in Aptiv PLC by 2.5%, holding approximately 1.49 million shares worth around $88.65 million as of its latest filing.
• Several analysts have raised their price targets for Aptiv, with JPMorgan setting a new target at $90.00, while the overall consensus rating is a "Moderate Buy" with a target of $81.50.
• Aptiv reported a quarterly earnings per share (EPS) of $2.12, exceeding analysts' expectations, and showed a year-over-year revenue increase of 3.1%, totaling $5.21 billion for the quarter.

Rathbones Group PLC reduced its stake in shares of Aptiv PLC (NYSE:APTV - Free Report) by 2.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,489,872 shares of the auto parts company's stock after selling 37,901 shares during the quarter. Rathbones Group PLC owned about 0.68% of Aptiv worth $88,647,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new position in Aptiv during the first quarter valued at about $26,000. Mather Group LLC. lifted its holdings in shares of Aptiv by 155.2% during the first quarter. Mather Group LLC. now owns 633 shares of the auto parts company's stock valued at $38,000 after purchasing an additional 385 shares during the last quarter. Eastern Bank purchased a new stake in shares of Aptiv during the first quarter valued at $39,000. Versant Capital Management Inc lifted its holdings in shares of Aptiv by 201.7% during the first quarter. Versant Capital Management Inc now owns 703 shares of the auto parts company's stock valued at $42,000 after purchasing an additional 470 shares during the last quarter. Finally, UMB Bank n.a. purchased a new stake in shares of Aptiv during the first quarter valued at $48,000. 94.21% of the stock is currently owned by institutional investors.

Aptiv Price Performance

Shares of NYSE APTV traded up $2.97 during mid-day trading on Wednesday, hitting $74.67. 2,878,980 shares of the stock traded hands, compared to its average volume of 2,767,511. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.76 and a quick ratio of 1.24. Aptiv PLC has a twelve month low of $47.19 and a twelve month high of $75.41. The company has a market cap of $16.26 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 0.80 and a beta of 1.48. The firm has a 50 day simple moving average of $68.91 and a two-hundred day simple moving average of $64.14.

Aptiv (NYSE:APTV - Get Free Report) last announced its earnings results on Thursday, July 31st. The auto parts company reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Aptiv had a return on equity of 18.46% and a net margin of 5.12%. The firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the previous year, the business earned $1.58 EPS. The business's quarterly revenue was up 3.1% compared to the same quarter last year. As a group, equities research analysts forecast that Aptiv PLC will post 7.2 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on APTV. Wall Street Zen raised Aptiv to a "hold" rating in a report on Saturday, June 21st. Wolfe Research downgraded Aptiv from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, July 2nd. Robert W. Baird set a $82.00 price objective on Aptiv and gave the stock an "outperform" rating in a research note on Friday, July 11th. Oppenheimer reissued an "outperform" rating and issued a $88.00 price objective (up from $84.00) on shares of Aptiv in a research note on Monday, August 4th. Finally, Bank of America increased 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 investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $81.81.

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.