Acadian Asset Management LLC Purchases New Position in Aptiv PLC (NYSE:APTV)

Acadian Asset Management LLC purchased a new stake in Aptiv PLC (NYSE:APTV) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 13,337 shares of the auto parts company’s stock, valued at approximately $937,000.

A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Aptiv by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 31,697,555 shares of the auto parts company’s stock worth $2,843,905,000 after buying an additional 325,550 shares during the period. Capital World Investors purchased a new stake in Aptiv during the first quarter worth $343,760,000. Clearbridge Investments LLC lifted its holdings in Aptiv by 3.1% during the first quarter. Clearbridge Investments LLC now owns 4,315,484 shares of the auto parts company’s stock worth $343,728,000 after buying an additional 131,431 shares during the period. EdgePoint Investment Group Inc. purchased a new stake in Aptiv during the first quarter worth $335,426,000. Finally, Canada Pension Plan Investment Board lifted its holdings in Aptiv by 18.1% during the first quarter. Canada Pension Plan Investment Board now owns 3,485,374 shares of the auto parts company’s stock worth $277,610,000 after buying an additional 533,779 shares during the period. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on APTV. Piper Sandler lowered Aptiv from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $78.00 to $63.00 in a report on Wednesday, June 26th. Nomura Securities upgraded Aptiv from a “strong sell” rating to a “hold” rating in a report on Monday, August 19th. Robert W. Baird decreased their price objective on Aptiv from $90.00 to $83.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Barclays decreased their price objective on Aptiv from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Finally, Evercore ISI decreased their price objective on Aptiv from $125.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $94.88.

Aptiv Price Performance

Shares of APTV opened at $68.79 on Tuesday. The business’s 50-day moving average is $69.60 and its two-hundred day moving average is $74.26. The company has a market capitalization of $18.72 billion, a P/E ratio of 6.48, a P/E/G ratio of 0.60 and a beta of 1.79. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.09 and a current ratio of 1.49. Aptiv PLC has a fifty-two week low of $63.62 and a fifty-two week high of $104.72.

Aptiv (NYSE:APTV) last announced its quarterly earnings results on Thursday, August 1st. The auto parts company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.16. The company had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $5.30 billion. Aptiv had a return on equity of 13.19% and a net margin of 18.46%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the firm earned $1.25 EPS. Research analysts predict that Aptiv PLC will post 6.28 earnings per share for the current year.

About Aptiv

Aptiv PLC engages in design, manufacture, and sale of vehicle components in North America, Europe, Middle East, Africa, the Asia Pacific, South America, and internationally. The company provides electrical, electronic, and safety technology solutions to the automotive and commercial vehicle markets. It operates through two segments, Signal and Power Solutions, and Advanced Safety and User Experience.