Victory Capital Management Inc. Cuts Stake in Aptiv PLC (NYSE:APTV)

Victory Capital Management Inc. lowered its holdings in shares of Aptiv PLC (NYSE:APTV) by 5.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,658,423 shares of the auto parts company’s stock after selling 224,421 shares during the quarter. Victory Capital Management Inc. owned approximately 1.38% of Aptiv worth $263,443,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Aptiv by 15.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 12,861,135 shares of the auto parts company’s stock worth $905,681,000 after purchasing an additional 1,764,844 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in Aptiv by 13.7% during the 2nd 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 during the last quarter. Capital World Investors acquired a new position in shares of Aptiv in the first quarter valued at about $343,760,000. Clearbridge Investments LLC raised its holdings in shares of Aptiv by 3.1% during the first quarter. Clearbridge Investments LLC now owns 4,315,484 shares of the auto parts company’s stock worth $343,728,000 after purchasing an additional 131,431 shares during the last quarter. Finally, EdgePoint Investment Group Inc. acquired a new position in Aptiv in the first quarter valued at approximately $335,426,000. 94.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APTV has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Aptiv from $76.00 to $66.00 and set a “hold” rating on the stock in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their price target on shares of Aptiv from $107.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Bank of America reduced their target price on Aptiv from $105.00 to $102.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Fox Advisors downgraded shares of Aptiv from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 1st. Finally, Barclays lowered their price objective on shares of Aptiv from $100.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Aptiv currently has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Aptiv Stock Up 0.6 %

Shares of NYSE:APTV traded up $0.36 on Tuesday, hitting $56.29. 1,706,501 shares of the company’s stock were exchanged, compared to its average volume of 3,088,731. Aptiv PLC has a 1-year low of $52.81 and a 1-year high of $91.66. The company has a market capitalization of $13.23 billion, a PE ratio of 6.35, a P/E/G ratio of 0.50 and a beta of 1.81. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.06 and a current ratio of 1.50. The firm’s 50-day moving average is $67.69 and its 200 day moving average is $71.81.

Aptiv (NYSE:APTV) last posted its earnings results on Thursday, October 31st. The auto parts company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.15. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $5.10 billion. Aptiv had a return on equity of 14.51% and a net margin of 12.29%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.30 EPS. Sell-side analysts predict that Aptiv PLC will post 6.18 EPS for the current year.

About Aptiv

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.