M&T Bank Corp Cuts Stock Holdings in Aptiv PLC (NYSE:APTV)

M&T Bank Corp cut its stake in shares of Aptiv PLC (NYSE:APTV) by 4.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 179,909 shares of the auto parts company’s stock after selling 8,681 shares during the period. M&T Bank Corp owned 0.06% of Aptiv worth $16,141,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Gradient Investments LLC grew its position in Aptiv by 36.1% during the fourth quarter. Gradient Investments LLC now owns 154,944 shares of the auto parts company’s stock valued at $13,902,000 after acquiring an additional 41,135 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Aptiv during the 4th quarter worth about $13,120,000. Arbor Wealth Advisors LLC acquired a new stake in Aptiv during the 4th quarter worth approximately $1,875,000. Douglas Lane & Associates LLC raised its holdings in Aptiv by 20.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 378,655 shares of the auto parts company’s stock valued at $33,973,000 after buying an additional 65,354 shares during the period. Finally, OLD National Bancorp IN lifted its position in Aptiv by 23.7% during the fourth quarter. OLD National Bancorp IN now owns 70,926 shares of the auto parts company’s stock valued at $6,363,000 after buying an additional 13,579 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of Aptiv from $150.00 to $136.00 and set a “buy” rating for the company in a research report on Thursday, February 1st. Wells Fargo & Company lowered their price target on Aptiv from $84.00 to $83.00 in a report on Monday, April 8th. Barclays reduced their price objective on Aptiv from $112.00 to $110.00 and set an “overweight” rating on the stock in a research note on Thursday, April 11th. Oppenheimer lowered their target price on Aptiv from $148.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Royal Bank of Canada reduced their price target on Aptiv from $115.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $109.29.

Aptiv Stock Performance

Shares of NYSE APTV traded up $3.03 during midday trading on Friday, hitting $80.82. The company’s stock had a trading volume of 4,769,688 shares, compared to its average volume of 2,564,622. The firm has a market cap of $22.04 billion, a P/E ratio of 7.62, a P/E/G ratio of 0.97 and a beta of 1.90. Aptiv PLC has a 1-year low of $68.84 and a 1-year high of $113.60. The firm’s fifty day moving average price is $76.13 and its 200-day moving average price is $80.72. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.29.

Aptiv (NYSE:APTV) last posted its earnings results on Thursday, May 2nd. The auto parts company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.05 by $0.11. Aptiv had a return on equity of 13.21% and a net margin of 14.87%. The company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the company earned $0.91 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts forecast that Aptiv PLC will post 5.99 EPS for the current fiscal year.

Insider Activity at Aptiv

In other news, SVP Benjamin Lyon sold 18,680 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $77.69, for a total transaction of $1,451,249.20. Following the completion of the transaction, the senior vice president now directly owns 95,211 shares in the company, valued at $7,396,942.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.34% of the stock is currently owned by insiders.

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.