Point72 Asset Management L.P. Invests $859,000 in Delphi Technologies PLC (DLPH)
Point72 Asset Management L.P. bought a new position in shares of Delphi Technologies PLC (NYSE:DLPH) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 18,900 shares of the company’s stock, valued at approximately $859,000.
Several other large investors have also added to or reduced their stakes in DLPH. Wells Fargo & Company MN grew its holdings in Delphi Technologies by 28.1% during the 1st quarter. Wells Fargo & Company MN now owns 266,411 shares of the company’s stock valued at $12,695,000 after buying an additional 58,497 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of Delphi Technologies by 38.2% in the 1st quarter. Prudential Financial Inc. now owns 77,899 shares of the company’s stock worth $3,712,000 after purchasing an additional 21,528 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Delphi Technologies by 9.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 456,840 shares of the company’s stock worth $21,769,000 after purchasing an additional 37,707 shares during the period. Northern Trust Corp boosted its holdings in shares of Delphi Technologies by 4.6% in the 1st quarter. Northern Trust Corp now owns 763,489 shares of the company’s stock worth $36,380,000 after purchasing an additional 33,870 shares during the period. Finally, Glen Harbor Capital Management LLC boosted its holdings in shares of Delphi Technologies by 3,308.3% in the 1st quarter. Glen Harbor Capital Management LLC now owns 8,998 shares of the company’s stock worth $429,000 after purchasing an additional 8,734 shares during the period. Hedge funds and other institutional investors own 85.51% of the company’s stock.
Shares of Delphi Technologies stock opened at $35.43 on Monday. Delphi Technologies PLC has a one year low of $33.08 and a one year high of $60.39. The company has a debt-to-equity ratio of 4.68, a current ratio of 1.59 and a quick ratio of 1.18. The company has a market capitalization of $3.15 billion and a PE ratio of 6.88.
A number of equities analysts have recently commented on DLPH shares. Barclays dropped their target price on Delphi Technologies from $62.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, August 9th. Morgan Stanley dropped their target price on Delphi Technologies from $55.00 to $52.00 and set a “buy” rating for the company in a report on Monday, August 13th. Buckingham Research dropped their target price on Delphi Technologies from $58.00 to $48.00 and set a “neutral” rating for the company in a report on Friday, August 10th. Oppenheimer dropped their target price on Delphi Technologies from $53.00 to $52.00 and set an “outperform” rating for the company in a report on Thursday, August 9th. Finally, Zacks Investment Research upgraded Delphi Technologies from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Delphi Technologies has a consensus rating of “Buy” and a consensus target price of $55.27.
In other Delphi Technologies news, Director Frank J. Dellaquila purchased 750 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The stock was purchased at an average cost of $89.00 per share, with a total value of $66,750.00. Following the purchase, the director now owns 4,818 shares of the company’s stock, valued at $428,802. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Susan M. Suver sold 1,174 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $95.00, for a total value of $111,530.00. Following the sale, the senior vice president now directly owns 62,268 shares of the company’s stock, valued at $5,915,460. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.
About Delphi Technologies
Delphi Technologies PLC engages in the design, development, and manufacture of integrated powertrain technologies worldwide. The company operates through two segments, Powertrain Systems and Delphi Technologies Aftermarket. The Powertrain Systems segment provides fuel injection systems, as well as other powertrain products comprising valvetrain, fuel delivery modules, ignition coils, canisters, sensors, valves, and actuators; and electronic control modules with the corresponding software, algorithms, and calibration that provide centralized management of various powertrain components.
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