Raymond James & Associates Lowers Stake in Aptiv PLC (NYSE:APTV)

Raymond James & Associates trimmed its position in Aptiv PLC (NYSE:APTV) by 7.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 536,365 shares of the auto parts company’s stock after selling 42,361 shares during the quarter. Raymond James & Associates’ holdings in Aptiv were worth $38,624,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital World Investors purchased a new position in Aptiv in the first quarter valued at approximately $343,760,000. EdgePoint Investment Group Inc. purchased a new position in shares of Aptiv in the 1st quarter valued at $335,426,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Aptiv by 15.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,861,135 shares of the auto parts company’s stock valued at $905,681,000 after acquiring an additional 1,764,844 shares in the last quarter. Ariel Investments LLC acquired a new stake in Aptiv in the 1st quarter valued at $85,880,000. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Aptiv by 13.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,515,074 shares of the auto parts company’s stock worth $529,212,000 after purchasing an additional 905,431 shares in the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Aptiv Stock Performance

Aptiv stock opened at $69.69 on Wednesday. The company has a current ratio of 1.49, a quick ratio of 1.09 and a debt-to-equity ratio of 0.47. The stock has a market cap of $18.96 billion, a P/E ratio of 6.57, a price-to-earnings-growth ratio of 0.65 and a beta of 1.79. Aptiv PLC has a 52 week low of $63.62 and a 52 week high of $92.14. The stock has a 50 day moving average of $70.17 and a 200-day moving average of $72.89.

Aptiv (NYSE:APTV) last posted its quarterly earnings results on Thursday, August 1st. The auto parts company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.16. The business had revenue of $5.05 billion for the quarter, compared to analyst estimates of $5.30 billion. Aptiv had a return on equity of 13.19% and a net margin of 18.46%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 EPS. On average, analysts expect that Aptiv PLC will post 6.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on APTV shares. StockNews.com downgraded Aptiv from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Evercore ISI decreased their price target on Aptiv from $125.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, July 15th. Royal Bank of Canada upped their price target on Aptiv from $85.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Fox Advisors cut Aptiv from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 1st. Finally, Citigroup decreased their price target on Aptiv from $128.00 to $108.00 and set a “buy” rating for the company in a report on Friday, July 12th. Two 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.50.

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.