Arizona State Retirement System raised its stake in Aptiv PLC (NYSE:APTV) by 6.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,963 shares of the auto parts company’s stock after acquiring an additional 5,518 shares during the period. Arizona State Retirement System’s holdings in Aptiv were worth $7,785,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. Artisan Partners Limited Partnership boosted its stake in Aptiv by 12.0% in the first quarter. Artisan Partners Limited Partnership now owns 7,848,147 shares of the auto parts company’s stock valued at $666,857,000 after acquiring an additional 841,161 shares during the period. Neuberger Berman Group LLC boosted its stake in Aptiv by 4.8% in the first quarter. Neuberger Berman Group LLC now owns 5,540,260 shares of the auto parts company’s stock valued at $469,800,000 after acquiring an additional 251,614 shares during the period. Wells Fargo & Company MN boosted its stake in Aptiv by 10.3% in the second quarter. Wells Fargo & Company MN now owns 3,867,948 shares of the auto parts company’s stock valued at $354,420,000 after acquiring an additional 362,531 shares during the period. Millennium Management LLC boosted its stake in Aptiv by 149.4% in the first quarter. Millennium Management LLC now owns 1,140,725 shares of the auto parts company’s stock valued at $96,927,000 after acquiring an additional 683,337 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in Aptiv by 67.2% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,069,058 shares of the auto parts company’s stock valued at $97,958,000 after acquiring an additional 429,730 shares during the period. Institutional investors own 90.26% of the company’s stock.
In related news, Director Mark P. Frissora sold 7,826 shares of the business’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $102.59, for a total transaction of $802,869.34. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.32% of the stock is owned by insiders.
A number of brokerages have commented on APTV. Morgan Stanley lifted their target price on Aptiv from $79.00 to $81.00 and gave the company an “underweight” rating in a research note on Monday, August 13th. ValuEngine downgraded Aptiv from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Barclays lifted their target price on Aptiv from $114.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, August 1st. Robert W. Baird restated a “buy” rating and issued a $115.00 target price on shares of Aptiv in a research note on Wednesday, August 1st. Finally, Cowen set a $112.00 target price on Aptiv and gave the company a “buy” rating in a research note on Tuesday, July 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $100.52.
Shares of NYSE APTV opened at $94.48 on Tuesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.55 and a quick ratio of 1.19. The company has a market cap of $25.03 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58. Aptiv PLC has a 12-month low of $77.31 and a 12-month high of $103.23.
Aptiv (NYSE:APTV) last announced its earnings results on Tuesday, July 31st. The auto parts company reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.03. Aptiv had a return on equity of 41.16% and a net margin of 8.28%. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the previous year, the company earned $1.13 earnings per share. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. analysts predict that Aptiv PLC will post 5.36 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 22nd. Investors of record on Wednesday, August 8th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, August 7th. This represents a $0.88 annualized dividend and a yield of 0.93%. Aptiv’s payout ratio is 18.97%.
Aptiv PLC, together with its subsidiaries, designs and manufacturers vehicle components, and provides electrical, electronic, and safety technology solutions to the automotive and commercial vehicle markets worldwide. It operates through two segments, Signal and Power Solutions; and Advanced Safety and User Experience.
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