AdvisorNet Financial Inc lessened its holdings in Aptiv PLC (NYSE:APTV – Get Rating) by 13.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,095 shares of the auto parts company’s stock after selling 177 shares during the quarter. AdvisorNet Financial Inc’s holdings in Aptiv were worth $97,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Aptiv in the 4th quarter worth approximately $545,022,000. Capital International Investors acquired a new position in shares of Aptiv during the 4th quarter worth $338,312,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Aptiv during the 1st quarter worth $161,971,000. Nuveen Asset Management LLC increased its stake in shares of Aptiv by 37.0% during the 4th quarter. Nuveen Asset Management LLC now owns 4,700,379 shares of the auto parts company’s stock worth $775,327,000 after purchasing an additional 1,269,115 shares during the last quarter. Finally, Sound Shore Management Inc. CT acquired a new position in Aptiv in the 1st quarter valued at $91,495,000. Institutional investors and hedge funds own 90.03% of the company’s stock.
In other news, CEO Kevin P. Clark sold 6,665 shares of the business’s stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $89.36, for a total value of $595,584.40. Following the completion of the sale, the chief executive officer now owns 639,217 shares of the company’s stock, valued at $57,120,431.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 19,995 shares of company stock valued at $1,887,195. 0.41% of the stock is owned by company insiders.
Aptiv Price Performance
Aptiv (NYSE:APTV – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The auto parts company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.36). Aptiv had a net margin of 1.10% and a return on equity of 6.01%. The company had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Aptiv’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities analysts expect that Aptiv PLC will post 3.2 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on APTV shares. Guggenheim reduced their price target on shares of Aptiv from $180.00 to $173.00 and set a “buy” rating for the company in a report on Wednesday, July 20th. Cowen lowered their price objective on shares of Aptiv to $130.00 in a research report on Tuesday, August 9th. Oppenheimer lowered their price objective on shares of Aptiv from $172.00 to $162.00 and set an “outperform” rating for the company in a research report on Monday, August 8th. Morgan Stanley lowered their price target on shares of Aptiv from $149.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, August 11th. Finally, StockNews.com upgraded shares of Aptiv from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $151.11.
Aptiv Company Profile
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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