Zurcher Kantonalbank Zurich Cantonalbank Acquires 76,961 Shares of Aptiv PLC (NYSE:APTV)

Key Points

• Zurcher Kantonalbank increased its holdings in Aptiv PLC by 90.5% during the first quarter, acquiring an additional 76,961 shares, bringing its total to 162,032 shares valued at approximately $9.64 million.
• Aptiv's stock recently opened at $66.55 and has a market cap of $14.49 billion, with a 12-month price range between $47.19 and $80.95.
• The company reported $1.69 earnings per share for the last quarter, surpassing the consensus estimate and despite a 1.6% year-over-year revenue decline to $4.83 billion.

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Aptiv PLC (NYSE:APTV - Free Report) by 90.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 162,032 shares of the auto parts company's stock after purchasing an additional 76,961 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Aptiv worth $9,641,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in APTV. JPMorgan Chase & Co. lifted its holdings in shares of Aptiv by 25.4% during the 4th quarter. JPMorgan Chase & Co. now owns 2,724,091 shares of the auto parts company's stock valued at $168,619,000 after purchasing an additional 552,066 shares during the last quarter. Norges Bank acquired a new stake in Aptiv during the 4th quarter worth about $106,492,000. Allstate Corp acquired a new stake in shares of Aptiv during the 4th quarter valued at about $473,000. O Shaughnessy Asset Management LLC grew its position in shares of Aptiv by 27.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,870 shares of the auto parts company's stock valued at $355,000 after acquiring an additional 1,271 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Aptiv by 11.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 14,289,126 shares of the auto parts company's stock valued at $864,206,000 after acquiring an additional 1,517,104 shares during the period. Hedge funds and other institutional investors own 94.21% of the company's stock.

Aptiv Price Performance

Shares of NYSE APTV traded down $2.88 during midday trading on Friday, reaching $65.76. The company's stock had a trading volume of 2,773,861 shares, compared to its average volume of 2,274,872. The company has a current ratio of 1.76, a quick ratio of 1.11 and a debt-to-equity ratio of 0.79. The company has a 50 day moving average price of $68.81 and a 200 day moving average price of $63.84. Aptiv PLC has a one year low of $47.19 and a one year high of $75.41. The company has a market cap of $14.32 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 0.76 and a beta of 1.48.

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on APTV. Wells Fargo & Company lifted their price objective on Aptiv from $86.00 to $89.00 and gave the stock an "overweight" rating in a report on Friday. JPMorgan Chase & Co. lifted their price objective on Aptiv from $85.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday. Morgan Stanley lowered their price objective on Aptiv from $60.00 to $55.00 and set an "underweight" rating on the stock in a report on Monday, May 19th. Wolfe Research cut Aptiv from an "outperform" rating to a "peer perform" rating in a report on Wednesday, July 2nd. Finally, Robert W. Baird set a $82.00 price objective on Aptiv and gave the stock an "outperform" rating in a report on Friday, July 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Aptiv presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.38.

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.