SEB Asset Management AB Buys New Holdings in Aptiv PLC $APTV

Key Points

• SEB Asset Management AB opened a new position in Aptiv during the first quarter, buying 264,675 shares worth about $18.4 million and ending with 0.12% ownership.
• Several other institutional investors also increased their Aptiv stakes, and institutions now own 94.21% of the auto parts company’s shares.
• Analysts remain broadly positive despite some target cuts: Aptiv has a Moderate Buy consensus with a target price of $82.50, while the company recently beat earnings and revenue estimates for the quarter.

SEB Asset Management AB bought a new position in Aptiv PLC (NYSE:APTV - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 264,675 shares of the auto parts company's stock, valued at approximately $18,379,000. SEB Asset Management AB owned 0.12% of Aptiv at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of APTV. Swiss National Bank boosted its position in shares of Aptiv by 6.3% during the 1st quarter. Swiss National Bank now owns 634,200 shares of the auto parts company's stock valued at $44,039,000 after acquiring an additional 37,500 shares in the last quarter. Mediolanum International Funds Ltd increased its stake in Aptiv by 9.5% in the first quarter. Mediolanum International Funds Ltd now owns 173,504 shares of the auto parts company's stock valued at $11,562,000 after acquiring an additional 14,998 shares during the period. California Public Employees Retirement System raised its position in Aptiv by 11.4% in the first quarter. California Public Employees Retirement System now owns 478,577 shares of the auto parts company's stock worth $33,232,000 after purchasing an additional 49,080 shares in the last quarter. John G Ullman & Associates Inc. lifted its stake in Aptiv by 13.5% during the first quarter. John G Ullman & Associates Inc. now owns 9,250 shares of the auto parts company's stock worth $642,000 after purchasing an additional 1,100 shares during the period. Finally, Bessemer Group Inc. lifted its stake in Aptiv by 263.3% during the first quarter. Bessemer Group Inc. now owns 11,323 shares of the auto parts company's stock worth $786,000 after purchasing an additional 8,206 shares during the period. Institutional investors and hedge funds own 94.21% of the company's stock.

Analyst Ratings Changes

APTV has been the topic of several analyst reports. Fox Advisors lowered their price objective on Aptiv from $110.00 to $70.00 in a research note on Friday, May 8th. HSBC cut their target price on Aptiv from $81.32 to $75.00 and set a "buy" rating for the company in a research report on Monday, April 27th. UBS Group lowered their price target on Aptiv from $97.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 2nd. Zacks Research upgraded Aptiv from a "strong sell" rating to a "hold" rating in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. cut their price objective on Aptiv from $84.00 to $75.00 and set an "overweight" rating for the company in a report on Friday, July 10th. Twenty-two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $82.50.

Insider Transactions at Aptiv

In other Aptiv news, EVP Katherine H. Ramundo sold 2,000 shares of the company's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $78.30, for a total transaction of $156,600.00. Following the transaction, the executive vice president owned 163,752 shares of the company's stock, valued at approximately $12,821,781.60. This represents a 1.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company's stock.

Aptiv Trading Up 0.1%

APTV opened at $57.51 on Monday. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $12.17 billion, a PE ratio of 34.03, a PEG ratio of 1.07 and a beta of 1.46. Aptiv PLC has a 1-year low of $51.68 and a 1-year high of $88.93. The firm has a 50-day moving average price of $61.60 and a two-hundred day moving average price of $68.44.

Aptiv (NYSE:APTV - Get Free Report) last announced its earnings results on Wednesday, May 6th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.09. Aptiv had a net margin of 1.77% and a return on equity of 17.83%. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the business earned $1.69 earnings per share. Aptiv's quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities analysts anticipate that Aptiv PLC will post 5.93 earnings per share for the current fiscal year.

Aptiv Company Profile

Aptiv plc is a global automotive technology company that develops safer, greener and more connected solutions for the mobility industry. The company designs and supplies advanced electrical architectures, electronic systems and software that enable vehicle connectivity, active safety, advanced driver-assistance systems (ADAS) and autonomous driving capabilities. Aptiv's customers include major automakers and mobility service providers seeking to integrate higher levels of automation, electrification and software-defined features into production vehicles and mobility platforms.

Product and service offerings span vehicle electrical systems and wiring, connectors and harnesses, high-voltage electrification components, power electronics and charging solutions, sensors and compute platforms that support ADAS and autonomous functions, and the software and services required to integrate and manage these systems.

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