Aptiv PLC $APTV Shares Sold by Atlantic Investment Management Inc.

Atlantic Investment Management Inc. lessened its position in Aptiv PLC (NYSE:APTV) by 9.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 275,971 shares of the auto parts company’s stock after selling 29,500 shares during the period. Aptiv makes up about 11.8% of Atlantic Investment Management Inc.’s holdings, making the stock its 4th largest position. Atlantic Investment Management Inc.’s holdings in Aptiv were worth $20,999,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in Aptiv by 4.3% in the fourth quarter. State Street Corp now owns 10,066,712 shares of the auto parts company’s stock valued at $765,976,000 after acquiring an additional 419,375 shares during the period. Norges Bank acquired a new stake in Aptiv in the fourth quarter valued at approximately $634,961,000. Geode Capital Management LLC grew its stake in Aptiv by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 5,821,615 shares of the auto parts company’s stock valued at $441,289,000 after acquiring an additional 99,876 shares during the period. Nordea Investment Management AB grew its stake in Aptiv by 34.2% in the fourth quarter. Nordea Investment Management AB now owns 4,579,726 shares of the auto parts company’s stock valued at $349,067,000 after acquiring an additional 1,167,946 shares during the period. Finally, Boston Partners grew its stake in Aptiv by 29.2% in the third quarter. Boston Partners now owns 4,194,909 shares of the auto parts company’s stock valued at $361,385,000 after acquiring an additional 948,327 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Wall Street Analyst Weigh In

APTV has been the subject of a number of research reports. President Capital initiated coverage on Aptiv in a research note on Wednesday, March 25th. They issued a “buy” rating and a $82.50 price objective for the company. Wall Street Zen cut Aptiv from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Royal Bank Of Canada reduced their price objective on Aptiv from $104.00 to $81.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. UBS Group cut their target price on Aptiv from $97.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Finally, JPMorgan Chase & Co. lifted their target price on Aptiv from $83.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Twenty-two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.67.

Insider Activity

In other Aptiv news, EVP Katherine H. Ramundo sold 2,000 shares of the business’s stock in a transaction on 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 in the company, valued at $12,821,781.60. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by insiders.

Aptiv Stock Performance

Shares of Aptiv stock opened at $62.85 on Thursday. The business’s fifty day simple moving average is $61.12 and its 200 day simple moving average is $71.09. The firm has a market capitalization of $13.30 billion, a P/E ratio of 37.19, a price-to-earnings-growth ratio of 1.10 and a beta of 1.45. Aptiv PLC has a 12 month low of $51.68 and a 12 month high of $88.93. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.98.

Aptiv (NYSE:APTV) last issued its quarterly earnings results on Wednesday, May 6th. The auto parts company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.09. The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.03 billion. Aptiv had a return on equity of 17.83% and a net margin of 1.77%.Aptiv’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $1.69 earnings per share. As a group, analysts anticipate that Aptiv PLC will post 6.37 EPS for the current 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.