Short Interest in Aptiv PLC (NYSE:APTV) Declines By 22.7%

Aptiv PLC (NYSE:APTV) saw a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 8,490,000 shares, a drop of 22.7% from the January 15th total of 10,990,000 shares. Approximately 3.7% of the company’s stock are short sold. Based on an average daily trading volume, of 3,850,000 shares, the days-to-cover ratio is presently 2.2 days.

Institutional Investors Weigh In On Aptiv

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. grew its position in shares of Aptiv by 1,410.3% in the third quarter. Brown Brothers Harriman & Co. now owns 438 shares of the auto parts company’s stock valued at $32,000 after purchasing an additional 409 shares during the period. Wolff Wiese Magana LLC boosted its holdings in Aptiv by 44.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 505 shares of the auto parts company’s stock worth $36,000 after buying an additional 155 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in Aptiv in the 4th quarter worth about $37,000. Capital Performance Advisors LLP purchased a new stake in Aptiv during the 3rd quarter worth approximately $43,000. Finally, Brooklyn Investment Group acquired a new position in shares of Aptiv during the third quarter valued at approximately $43,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Evercore ISI lowered their target price on Aptiv from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Argus raised Aptiv to a “strong-buy” rating in a research report on Tuesday, February 11th. HSBC upgraded shares of Aptiv from a “hold” rating to a “buy” rating and boosted their target price for the stock from $63.00 to $77.00 in a report on Tuesday, February 4th. Piper Sandler upgraded shares of Aptiv from an “underweight” rating to a “neutral” rating and raised their price target for the company from $53.00 to $65.00 in a report on Thursday, January 23rd. Finally, Baird R W upgraded shares of Aptiv from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Aptiv has an average rating of “Moderate Buy” and an average price target of $85.61.

Aptiv Stock Performance

Shares of NYSE APTV opened at $67.06 on Monday. Aptiv has a 1 year low of $51.47 and a 1 year high of $85.56. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.06 and a current ratio of 1.53. The company’s fifty day moving average price is $61.15 and its 200 day moving average price is $64.08. The company has a market capitalization of $15.76 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 0.54 and a beta of 1.74.

Aptiv (NYSE:APTV) last posted its earnings results on Thursday, February 6th. The auto parts company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.12. Aptiv had a net margin of 9.07% and a return on equity of 15.63%. On average, research analysts predict that Aptiv will post 7.14 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.