Pinnacle Associates Ltd. Increases Stock Holdings in Aptiv PLC (NYSE:APTV)

Pinnacle Associates Ltd. lifted its stake in shares of Aptiv PLC (NYSE:APTV) by 50.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,696 shares of the auto parts company’s stock after buying an additional 10,601 shares during the period. Pinnacle Associates Ltd.’s holdings in Aptiv were worth $2,282,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Gibraltar Capital Management Inc. boosted its position in Aptiv by 1.6% in the third quarter. Gibraltar Capital Management Inc. now owns 148,383 shares of the auto parts company’s stock worth $10,685,000 after purchasing an additional 2,388 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Aptiv by 17.1% in the third quarter. Nisa Investment Advisors LLC now owns 25,820 shares of the auto parts company’s stock worth $1,859,000 after purchasing an additional 3,773 shares during the last quarter. Asahi Life Asset Management CO. LTD. purchased a new position in Aptiv in the third quarter worth $373,000. Custom Index Systems LLC boosted its position in Aptiv by 5.2% in the third quarter. Custom Index Systems LLC now owns 6,799 shares of the auto parts company’s stock worth $490,000 after purchasing an additional 337 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its position in Aptiv by 4.4% in the third quarter. State of Alaska Department of Revenue now owns 30,884 shares of the auto parts company’s stock worth $2,223,000 after purchasing an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on APTV. StockNews.com started coverage on Aptiv in a research report on Saturday, October 26th. They issued a “hold” rating on the stock. Royal Bank of Canada decreased their price objective on Aptiv from $82.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday. Citigroup decreased their price objective on Aptiv from $128.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. Morgan Stanley reduced their target price on Aptiv from $70.00 to $68.00 and set an “underweight” rating for the company in a research report on Wednesday, September 25th. Finally, Evercore ISI reduced their target price on Aptiv from $125.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.18.

Aptiv Trading Down 0.8 %

Shares of APTV stock opened at $56.37 on Friday. The stock has a market capitalization of $14.98 billion, a PE ratio of 4.26, a P/E/G ratio of 0.63 and a beta of 1.79. Aptiv PLC has a 1-year low of $54.70 and a 1-year high of $91.66. The business has a 50-day moving average of $69.58 and a 200 day moving average of $72.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.49 and a quick ratio of 1.09.

Aptiv (NYSE:APTV) last released its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.14. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $5.10 billion. Aptiv had a return on equity of 13.19% and a net margin of 18.46%. Aptiv’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.30 EPS. As a group, sell-side analysts anticipate that Aptiv PLC will post 6.23 earnings per share for the current year.

Aptiv Company 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.