Lateef Investment Management L.P. Reduces Position in Delphi Technologies PLC (DLPH)

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Lateef Investment Management L.P. cut its position in shares of Delphi Technologies PLC (NYSE:DLPH) by 9.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 235,117 shares of the company’s stock after selling 24,309 shares during the quarter. Delphi Technologies comprises 1.4% of Lateef Investment Management L.P.’s investment portfolio, making the stock its 23rd biggest holding. Lateef Investment Management L.P.’s holdings in Delphi Technologies were worth $10,688,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Citigroup Inc. raised its stake in Delphi Technologies by 357.8% during the first quarter. Citigroup Inc. now owns 60,154 shares of the company’s stock valued at $2,866,000 after buying an additional 47,014 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Delphi Technologies during the first quarter valued at $1,253,000. Prudential Financial Inc. raised its stake in Delphi Technologies by 38.2% during the first quarter. Prudential Financial Inc. now owns 77,899 shares of the company’s stock valued at $3,712,000 after buying an additional 21,528 shares during the last quarter. Wells Fargo & Company MN raised its stake in Delphi Technologies by 28.1% during the first quarter. Wells Fargo & Company MN now owns 266,411 shares of the company’s stock valued at $12,695,000 after buying an additional 58,497 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Delphi Technologies by 146.9% during the first quarter. Dimensional Fund Advisors LP now owns 474,812 shares of the company’s stock valued at $22,625,000 after buying an additional 282,515 shares during the last quarter. Institutional investors own 82.79% of the company’s stock.

DLPH has been the subject of a number of recent research reports. Guggenheim reiterated a “buy” rating and set a $54.00 price objective on shares of Delphi Technologies in a research note on Thursday, August 9th. BMO Capital Markets set a $60.00 price objective on Delphi Technologies and gave the company a “buy” rating in a research note on Thursday, August 9th. Morgan Stanley lowered their price objective on Delphi Technologies from $55.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, August 13th. Zacks Investment Research upgraded Delphi Technologies from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. Finally, Oppenheimer began coverage on Delphi Technologies in a research note on Thursday, June 14th. They issued a “market perform” rating for the company. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $55.27.

DLPH stock opened at $39.51 on Tuesday. Delphi Technologies PLC has a 1-year low of $38.00 and a 1-year high of $60.39. The company has a debt-to-equity ratio of 4.68, a current ratio of 1.59 and a quick ratio of 1.18. The firm has a market capitalization of $3.50 billion and a PE ratio of 7.67.

Delphi Technologies (NYSE:DLPH) last posted its quarterly earnings results on Wednesday, August 8th. The company reported $1.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.05. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the firm earned $1.35 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. research analysts anticipate that Delphi Technologies PLC will post 4.8 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Tuesday, August 7th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Monday, August 6th. Delphi Technologies’s dividend payout ratio is currently 13.20%.

In related news, Director Mark P. Frissora sold 7,826 shares of the company’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $102.59, for a total transaction of $802,869.34. Following the completion of the sale, the director now owns 1,957 shares in the company, valued at $200,768.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.12% of the stock is owned by insiders.

Delphi Technologies Company Profile

Delphi Technologies PLC engages in the design, development, and manufacture of integrated powertrain technologies worldwide. The company operates through two segments, Powertrain Systems and Delphi Technologies Aftermarket. The Powertrain Systems segment provides fuel injection systems, as well as other powertrain products comprising valvetrain, fuel delivery modules, ignition coils, canisters, sensors, valves, and actuators; and electronic control modules with the corresponding software, algorithms, and calibration that provide centralized management of various powertrain components.

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Institutional Ownership by Quarter for Delphi Technologies (NYSE:DLPH)

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