HITE Hedge Asset Management LLC Sells 258,579 Shares of Aptiv PLC $APTV

HITE Hedge Asset Management LLC lowered its stake in Aptiv PLC (NYSE:APTV) by 93.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 16,797 shares of the auto parts company’s stock after selling 258,579 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in Aptiv were worth $1,278,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in APTV. Saranac Partners Ltd bought a new stake in Aptiv in the third quarter valued at $25,000. Larson Financial Group LLC boosted its holdings in Aptiv by 240.0% in the fourth quarter. Larson Financial Group LLC now owns 357 shares of the auto parts company’s stock valued at $27,000 after acquiring an additional 252 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Aptiv by 452.3% in the first quarter. Geneos Wealth Management Inc. now owns 486 shares of the auto parts company’s stock valued at $29,000 after acquiring an additional 398 shares in the last quarter. Foster Dykema Cabot & Partners LLC bought a new stake in shares of Aptiv during the 3rd quarter valued at $30,000. Finally, MUFG Securities EMEA plc bought a new stake in shares of Aptiv during the 2nd quarter valued at $44,000. Institutional investors own 94.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Evercore dropped their target price on shares of Aptiv from $100.00 to $80.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. The Goldman Sachs Group boosted their target price on shares of Aptiv from $75.00 to $82.00 and gave the company a “buy” rating in a report on Thursday. Bank of America assumed coverage on shares of Aptiv in a report on Wednesday, March 4th. They set a “buy” rating on the stock. TD Cowen restated a “buy” rating on shares of Aptiv in a report on Friday. Finally, Zacks Research cut shares of Aptiv from a “hold” rating to a “strong sell” rating in a report on Monday, April 27th. Twenty-two 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.67.

Insider Transactions at Aptiv

In related news, EVP Katherine H. Ramundo sold 2,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $78.30, for a total value of $156,600.00. Following the transaction, the executive vice president owned 163,752 shares in the company, valued at $12,821,781.60. The trade was a 1.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by insiders.

Aptiv Stock Performance

Shares of APTV stock opened at $68.06 on Friday. The stock has a market cap of $14.40 billion, a PE ratio of 40.27, a price-to-earnings-growth ratio of 1.14 and a beta of 1.45. The company’s fifty day moving average price is $60.86 and its 200-day moving average price is $71.36. 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 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. The company had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.03 billion. Aptiv had a net margin of 1.77% and a return on equity of 17.83%. Aptiv’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.69 EPS. On average, equities analysts expect that Aptiv PLC will post 6.37 EPS for the current fiscal year.

Aptiv 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.