Patton Fund Management Inc. Increases Stock Holdings in Aptiv PLC $APTV

Patton Fund Management Inc. grew its stake in Aptiv PLC (NYSE:APTV) by 1,370.1% during the first quarter, HoldingsChannel reports. The firm owned 42,823 shares of the auto parts company’s stock after purchasing an additional 39,910 shares during the quarter. Patton Fund Management Inc.’s holdings in Aptiv were worth $2,974,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Saranac Partners Ltd acquired a new position in Aptiv in the 3rd quarter valued at $25,000. Larson Financial Group LLC lifted its stake 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 acquiring an additional 252 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Aptiv by 452.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 486 shares of the auto parts company’s stock worth $29,000 after acquiring an additional 398 shares during the period. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Aptiv in the third quarter valued at about $30,000. Finally, Atlas Capital Advisors Inc. acquired a new position in shares of Aptiv during the fourth quarter worth about $33,000. 94.21% of the stock is owned by institutional investors and hedge funds.

Aptiv Stock Up 0.2%

APTV stock opened at $60.47 on Monday. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.98. The company’s 50-day moving average price is $61.51 and its 200 day moving average price is $70.36. Aptiv PLC has a 52 week low of $51.68 and a 52 week high of $88.93. The company has a market cap of $12.80 billion, a P/E ratio of 35.78, a P/E/G ratio of 1.01 and a beta of 1.45.

Aptiv (NYSE:APTV) last issued its earnings results on Wednesday, May 6th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same period last year, the company posted $1.69 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, research analysts expect that Aptiv PLC will post 6.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

APTV has been the subject of several analyst reports. Barclays cut their price target on shares of Aptiv from $77.00 to $73.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Bank of America started coverage on Aptiv in a research report on Wednesday, March 4th. They set a “buy” rating on the stock. UBS Group cut their target price on Aptiv from $97.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. The Goldman Sachs Group raised their price target on Aptiv from $75.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Finally, Morgan Stanley raised Aptiv from an “equal weight” rating to an “overweight” rating and set a $71.00 price objective on the stock in a report on Friday, May 8th. Twenty-two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Aptiv currently has an average rating of “Moderate Buy” and an average price target of $82.46.

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 that occurred 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

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.