Swiss National Bank Sells 87,800 Shares of Aptiv PLC (NYSE:APTV)

Key Points

• Swiss National Bank reduced its stake in Aptiv PLC by 11.7%, selling 87,800 shares during the first quarter, bringing its total ownership to 663,000 shares valued at approximately $39,448,000.
• Wall Street analysts are optimistic about Aptiv, with multiple firms raising their price targets, including Bank of America increasing its target from $80.00 to $85.00 and Wells Fargo raising it from $86.00 to $89.00.
• Aptiv reported $2.12 earnings per share for the last quarter, exceeding analysts' expectations and reflecting a 3.1% year-over-year revenue increase to $5.21 billion.

Swiss National Bank trimmed its holdings in Aptiv PLC (NYSE:APTV - Free Report) by 11.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 663,000 shares of the auto parts company's stock after selling 87,800 shares during the quarter. Swiss National Bank owned approximately 0.30% of Aptiv worth $39,448,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in APTV. Middleton & Co. Inc. MA boosted its position in shares of Aptiv by 63.1% during the 1st quarter. Middleton & Co. Inc. MA now owns 33,668 shares of the auto parts company's stock valued at $2,003,000 after acquiring an additional 13,026 shares during the last quarter. Principal Financial Group Inc. lifted its position in 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 during the last quarter. Crossmark Global Holdings Inc. lifted its position in 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 during the last quarter. GAMMA Investing LLC lifted its position in 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 during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in 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 during the last quarter. 94.21% of the stock is currently owned by institutional investors.

Aptiv Trading Up 4.1%

APTV traded up $2.97 on Wednesday, reaching $74.67. 2,878,980 shares of the company traded hands, compared to its average volume of 2,767,511. Aptiv PLC has a one year low of $47.19 and a one year high of $75.41. The firm has a fifty day simple moving average of $68.91 and a two-hundred day simple moving average of $64.14. The company has a market cap of $16.26 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 0.80 and a beta of 1.48. The company has a quick ratio of 1.24, a current ratio of 1.76 and a debt-to-equity ratio of 0.79.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Aptiv from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Friday, August 1st. UBS Group raised their price objective on Aptiv from $66.00 to $75.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Wolfe Research lowered Aptiv from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada raised their price target on Aptiv from $85.00 to $92.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Finally, Barclays raised their price target on Aptiv from $65.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Aptiv presently has an average rating of "Moderate Buy" and a consensus target price of $81.81.

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.