OLD National Bancorp IN Reduces Stake in Aptiv PLC (NYSE:APTV)

OLD National Bancorp IN lessened its stake in shares of Aptiv PLC (NYSE:APTV) by 0.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,488 shares of the auto parts company’s stock after selling 203 shares during the quarter. OLD National Bancorp IN’s holdings in Aptiv were worth $5,724,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Riverview Trust Co purchased a new position in Aptiv during the first quarter valued at approximately $25,000. Independence Bank of Kentucky purchased a new position in shares of Aptiv during the second quarter worth about $25,000. Hazlett Burt & Watson Inc. bought a new position in shares of Aptiv in the first quarter worth approximately $28,000. Crewe Advisors LLC raised its stake in Aptiv by 94.7% in the second quarter. Crewe Advisors LLC now owns 442 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 215 shares in the last quarter. Finally, Clearstead Trust LLC lifted its position in Aptiv by 305.0% during the first quarter. Clearstead Trust LLC now owns 405 shares of the auto parts company’s stock valued at $32,000 after purchasing an additional 305 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors.

Aptiv Trading Up 2.7 %

NYSE APTV opened at $71.76 on Monday. The firm has a market capitalization of $19.52 billion, a PE ratio of 6.76, a P/E/G ratio of 0.65 and a beta of 1.79. The stock’s 50 day moving average is $70.08 and its 200 day moving average is $72.96. Aptiv PLC has a twelve month low of $63.62 and a twelve month high of $93.41. 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 earnings results on Thursday, August 1st. The auto parts company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.16. The firm had revenue of $5.05 billion for the quarter, compared to analysts’ expectations of $5.30 billion. Aptiv had a net margin of 18.46% and a return on equity of 13.19%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 EPS. Research analysts forecast that Aptiv PLC will post 6.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

APTV has been the topic of several research reports. Nomura Securities upgraded shares of Aptiv from a “strong sell” rating to a “hold” rating in a research report on Monday, August 19th. Wells Fargo & Company upgraded Aptiv from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $78.00 to $87.00 in a research report on Friday, September 20th. Oppenheimer reissued an “outperform” rating and issued a $145.00 price target on shares of Aptiv in a report on Tuesday, July 9th. Citigroup lowered their price objective on shares of Aptiv from $128.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Finally, Piper Sandler cut Aptiv from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $78.00 to $63.00 in a research note on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.13.

Aptiv Profile

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.