Weiss Asset Management LP Takes $1.55 Million Position in Aptiv PLC $APTV

Key Points

• Weiss Asset Management initiated a $1.55 million position in Aptiv during the first quarter by purchasing 22,300 shares. Institutional investors collectively own 94.21% of the company.
• Analysts remain broadly optimistic, with 22 Buy ratings, an overall “Moderate Buy” consensus, and an average price target of $82.50. Recent targets ranged from $71 to $90.
• Aptiv exceeded quarterly expectations, reporting $1.71 in adjusted EPS versus a $1.62 estimate and $5.09 billion in revenue, up 5.4% year over year. Shares opened at $56.56, near the company’s 52-week low of $51.68.

Weiss Asset Management LP bought a new position in Aptiv PLC (NYSE:APTV - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 22,300 shares of the auto parts company's stock, valued at approximately $1,549,000.

A number of other large investors have also added to or reduced their stakes in APTV. Larson Financial Group LLC boosted its holdings in shares of Aptiv by 240.0% in the 4th quarter. Larson Financial Group LLC now owns 357 shares of the auto parts company's stock worth $27,000 after purchasing an additional 252 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Aptiv by 452.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 486 shares of the auto parts company's stock valued at $29,000 after buying an additional 398 shares in the last quarter. Atlas Capital Advisors Inc. bought a new stake in Aptiv in the 4th quarter worth approximately $33,000. DV Equities LLC purchased a new stake in Aptiv in the fourth quarter worth approximately $33,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position in Aptiv by 60.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the auto parts company's stock valued at $37,000 after acquiring an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on APTV shares. Morgan Stanley upgraded shares of Aptiv from an "equal weight" rating to an "overweight" rating and set a $71.00 price objective for the company in a report on Friday, May 8th. Zacks Research raised shares of Aptiv from a "strong sell" rating to a "hold" rating in a research note on Friday, July 10th. Wall Street Zen lowered shares of Aptiv from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. Oppenheimer reduced their price objective on Aptiv from $106.00 to $84.00 and set an "outperform" rating on the stock in a research note on Monday, April 13th. Finally, Royal Bank Of Canada boosted their target price on Aptiv from $81.00 to $90.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. Twenty-two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $82.50.

Insider Buying and Selling at Aptiv

In related news, EVP Katherine H. Ramundo sold 2,000 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $78.30, for a total value of $156,600.00. Following the sale, the executive vice president directly owned 163,752 shares of the company's stock, valued at $12,821,781.60. This trade represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.06% of the company's stock.

Aptiv Trading Up 0.0%

NYSE:APTV opened at $56.56 on Monday. The company has a fifty day moving average of $61.80 and a 200 day moving average of $67.73. Aptiv PLC has a 52 week low of $51.68 and a 52 week high of $88.93. The company has a quick ratio of 1.57, a current ratio of 2.11 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $11.97 billion, a P/E ratio of 33.47, a P/E/G ratio of 1.05 and a beta of 1.46.

Aptiv (NYSE:APTV - Get Free Report) last announced its quarterly 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 business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same quarter last year, the firm earned $1.69 EPS. The company's revenue was up 5.4% on a year-over-year basis. On average, research analysts predict that Aptiv PLC will post 5.93 earnings per share for the current year.

About Aptiv

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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