Aptiv PLC (APTV) Shares Sold by Water Island Capital LLC
Water Island Capital LLC reduced its holdings in Aptiv PLC (NYSE:APTV) by 93.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,600 shares of the auto parts company’s stock after selling 71,369 shares during the period. Water Island Capital LLC’s holdings in Aptiv were worth $421,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Massey Quick Simon & CO. LLC increased its stake in Aptiv by 272.6% in the 1st quarter. Massey Quick Simon & CO. LLC now owns 1,725 shares of the auto parts company’s stock valued at $147,000 after buying an additional 1,262 shares during the last quarter. First Mercantile Trust Co. acquired a new stake in Aptiv in the 2nd quarter valued at $159,000. RNC Capital Management LLC acquired a new stake in Aptiv in the 2nd quarter valued at $202,000. Neumann Capital Management LLC acquired a new stake in Aptiv in the 1st quarter valued at $203,000. Finally, Stephens Inc. AR acquired a new stake in Aptiv in the 1st quarter valued at $223,000. Hedge funds and other institutional investors own 89.18% of the company’s stock.
APTV has been the topic of several recent research reports. Wells Fargo & Co lifted their price target on shares of Aptiv from $105.00 to $118.00 and gave the company an “outperform” rating in a research note on Tuesday, June 5th. ValuEngine lowered shares of Aptiv from a “buy” rating to a “hold” rating in a research note on Friday, June 22nd. Barclays boosted their price objective on shares of Aptiv from $114.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 1st. Royal Bank of Canada boosted their price objective on shares of Aptiv to $115.00 and gave the stock an “outperform” rating in a research note on Friday, June 22nd. Finally, Longbow Research set a $110.00 price objective on shares of Aptiv and gave the stock a “buy” rating in a research note on Thursday, May 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eighteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $100.52.
Aptiv (NYSE:APTV) last announced its earnings results on Tuesday, July 31st. The auto parts company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.37 by $0.03. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.54 billion. Aptiv had a net margin of 8.28% and a return on equity of 41.16%. Aptiv’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.13 EPS. research analysts forecast that Aptiv PLC will post 5.36 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 22nd. Investors of record on Wednesday, August 8th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Tuesday, August 7th. Aptiv’s payout ratio is 18.97%.
In related news, Director Mark P. Frissora sold 7,826 shares of Aptiv stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $102.59, for a total transaction of $802,869.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Susan M. Suver sold 1,174 shares of Aptiv stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $95.00, for a total transaction of $111,530.00. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.
Aptiv Company Profile
Aptiv PLC, together with its subsidiaries, designs and manufacturers vehicle components, and provides electrical, electronic, and safety technology solutions to the automotive and commercial vehicle markets worldwide. It operates through two segments, Signal and Power Solutions; and Advanced Safety and User Experience.
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