Palouse Capital Management Inc. Sells 508 Shares of Aptiv PLC (NYSE:APTV)

Palouse Capital Management Inc. lowered its position in Aptiv PLC (NYSE:APTV) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,011 shares of the auto parts company’s stock after selling 508 shares during the quarter. Palouse Capital Management Inc.’s holdings in Aptiv were worth $1,268,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Private Advisor Group LLC purchased a new position in Aptiv during the 4th quarter valued at about $316,000. Janney Montgomery Scott LLC increased its holdings in Aptiv by 56.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 35,099 shares of the auto parts company’s stock valued at $3,149,000 after buying an additional 12,682 shares during the period. Financial Advocates Investment Management raised its stake in Aptiv by 5.9% in the fourth quarter. Financial Advocates Investment Management now owns 2,356 shares of the auto parts company’s stock worth $211,000 after buying an additional 132 shares in the last quarter. Brown Advisory Inc. lifted its holdings in Aptiv by 25.1% during the fourth quarter. Brown Advisory Inc. now owns 46,056 shares of the auto parts company’s stock worth $4,132,000 after buying an additional 9,234 shares during the period. Finally, Norges Bank bought a new stake in Aptiv during the 4th quarter valued at $302,902,000. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Aptiv Stock Performance

Shares of APTV stock opened at $69.67 on Thursday. The stock has a market cap of $18.95 billion, a PE ratio of 6.57, a price-to-earnings-growth ratio of 0.60 and a beta of 1.79. Aptiv PLC has a 52-week low of $63.62 and a 52-week high of $104.72. The business has a 50-day simple moving average of $69.62 and a 200-day simple moving average of $74.16. The company has a quick ratio of 1.09, a current ratio of 1.49 and a debt-to-equity ratio of 0.47.

Aptiv (NYSE:APTV) last announced its quarterly earnings results on Thursday, August 1st. The auto parts company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.16. The company had revenue of $5.05 billion during 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%. Aptiv’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. On average, equities analysts expect that Aptiv PLC will post 6.28 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on APTV shares. StockNews.com cut Aptiv from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Wells Fargo & Company decreased their price target on shares of Aptiv from $82.00 to $78.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Piper Sandler downgraded Aptiv from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $78.00 to $63.00 in a research note on Wednesday, June 26th. Royal Bank of Canada boosted their target price on shares of Aptiv from $85.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. Finally, Morgan Stanley lowered their price objective on shares of Aptiv from $75.00 to $70.00 and set an “underweight” rating for the company in a research note on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Aptiv presently has an average rating of “Moderate Buy” and an average price target of $94.88.

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.