Aptiv PLC (NYSE:APTV – Get Rating) – Oppenheimer decreased their Q2 2022 earnings per share (EPS) estimates for shares of Aptiv in a research report issued to clients and investors on Thursday, May 5th. Oppenheimer analyst C. Rusch now anticipates that the auto parts company will earn $0.72 per share for the quarter, down from their prior forecast of $0.78. Oppenheimer also issued estimates for Aptiv’s Q3 2022 earnings at $1.22 EPS, Q4 2022 earnings at $1.55 EPS, FY2022 earnings at $4.12 EPS and FY2023 earnings at $5.13 EPS.
Several other analysts have also issued reports on the stock. Royal Bank of Canada reduced their price target on shares of Aptiv from $190.00 to $170.00 in a research report on Friday, February 4th. Exane BNP Paribas began coverage on Aptiv in a research note on Monday, April 11th. They issued an “outperform” rating and a $160.00 price target on the stock. Raymond James dropped their price objective on Aptiv from $215.00 to $158.00 in a research report on Friday. Deutsche Bank Aktiengesellschaft decreased their target price on Aptiv from $158.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, April 21st. Finally, Piper Sandler downgraded shares of Aptiv from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $177.00 to $90.00 in a research note on Monday, April 18th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $159.65.
Aptiv (NYSE:APTV – Get Rating) last released its earnings results on Thursday, May 5th. The auto parts company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. Aptiv had a return on equity of 7.23% and a net margin of 2.43%. The company had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the firm posted $1.06 EPS. Aptiv’s quarterly revenue was up 3.9% on a year-over-year basis.
In related news, CEO Kevin P. Clark sold 5,830 shares of Aptiv stock in a transaction that occurred on Wednesday, April 13th. The stock was sold at an average price of $109.98, for a total value of $641,183.40. Following the transaction, the chief executive officer now directly owns 676,822 shares of the company’s stock, valued at $74,436,883.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.41% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Freemont Management S.A. acquired a new stake in Aptiv during the first quarter worth approximately $3,627,000. Balentine LLC acquired a new stake in shares of Aptiv during the 1st quarter worth approximately $391,000. Quadrant Capital Group LLC increased its stake in shares of Aptiv by 11.4% in the 1st quarter. Quadrant Capital Group LLC now owns 1,186 shares of the auto parts company’s stock valued at $141,000 after acquiring an additional 121 shares in the last quarter. BDO Wealth Advisors LLC lifted its position in shares of Aptiv by 8.4% during the 1st quarter. BDO Wealth Advisors LLC now owns 17,974 shares of the auto parts company’s stock valued at $2,152,000 after acquiring an additional 1,400 shares during the period. Finally, Sound Shore Management Inc. CT bought a new position in Aptiv during the first quarter worth $91,495,000. 91.08% of the stock is owned by institutional investors and hedge funds.
About Aptiv (Get Rating)
Aptiv PLC designs, manufacturers, and sells vehicle components worldwide. The company provides electrical, electronic, and safety technology solutions to the automotive and commercial vehicle markets. It operates in two segment, Signal and Power Solutions, and Advanced Safety and User Experience. The Signal and Power Solutions segment designs, manufactures, and assembles vehicle's electrical architecture, including engineered component products, connectors, wiring assemblies and harnesses, cable management products, electrical centers, and hybrid high voltage and safety distribution systems.
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