State of Michigan Retirement System Has $6.09 Million Stock Holdings in Aptiv PLC (NYSE:APTV)

State of Michigan Retirement System reduced its holdings in shares of Aptiv PLC (NYSE:APTV) by 1.3% in the first quarter, HoldingsChannel.com reports. The fund owned 76,449 shares of the auto parts company’s stock after selling 1,000 shares during the quarter. State of Michigan Retirement System’s holdings in Aptiv were worth $6,089,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in APTV. Cullinan Associates Inc. bought a new position in Aptiv in the first quarter worth approximately $454,000. Allspring Global Investments Holdings LLC grew its position in Aptiv by 10.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,388,461 shares of the auto parts company’s stock valued at $190,241,000 after purchasing an additional 230,079 shares during the period. Oak Thistle LLC bought a new stake in Aptiv during the 1st quarter valued at $542,000. River Street Advisors LLC raised its holdings in Aptiv by 21.1% during the first quarter. River Street Advisors LLC now owns 3,481 shares of the auto parts company’s stock worth $277,000 after buying an additional 606 shares during the last quarter. Finally, Founders Financial Securities LLC lifted its stake in shares of Aptiv by 7.2% in the first quarter. Founders Financial Securities LLC now owns 3,766 shares of the auto parts company’s stock valued at $300,000 after buying an additional 254 shares in the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APTV has been the topic of a number of analyst reports. UBS Group upped their target price on shares of Aptiv from $107.00 to $110.00 in a report on Monday, April 8th. JPMorgan Chase & Co. raised their target price on Aptiv from $109.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Robert W. Baird lifted their target price on Aptiv from $86.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Piper Sandler lowered Aptiv from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $78.00 to $63.00 in a research report on Wednesday, June 26th. Finally, StockNews.com downgraded shares of Aptiv from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $105.08.

Aptiv Stock Performance

NYSE APTV opened at $69.45 on Wednesday. The company’s 50 day moving average is $77.58 and its 200-day moving average is $79.51. The firm has a market cap of $18.89 billion, a P/E ratio of 6.55, a price-to-earnings-growth ratio of 0.67 and a beta of 1.79. Aptiv PLC has a 12-month low of $65.13 and a 12-month high of $113.60. The company has a quick ratio of 0.89, a current ratio of 1.29 and a debt-to-equity ratio of 0.42.

Aptiv (NYSE:APTV) last issued its quarterly earnings data on Thursday, May 2nd. The auto parts company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.05 by $0.11. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Aptiv had a net margin of 14.87% and a return on equity of 13.21%. Aptiv’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 earnings per share. Sell-side analysts predict that Aptiv PLC will post 6.01 earnings per share for the current year.

Insider Transactions at Aptiv

In other news, Director Nancy E. Cooper sold 394 shares of Aptiv stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $76.98, for a total transaction of $30,330.12. Following the completion of the sale, the director now directly owns 13,636 shares of the company’s stock, valued at approximately $1,049,699.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is owned by insiders.

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.