Welch & Forbes LLC Reduces Stock Position in Aptiv PLC (NYSE:APTV)

Welch & Forbes LLC lowered its holdings in Aptiv PLC (NYSE:APTV) by 1.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 20,632 shares of the auto parts company’s stock after selling 237 shares during the quarter. Welch & Forbes LLC’s holdings in Aptiv were worth $1,851,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Aptiv by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 31,372,005 shares of the auto parts company’s stock valued at $3,092,966,000 after purchasing an additional 1,265,774 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Aptiv by 65.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,158,382 shares of the auto parts company’s stock valued at $193,650,000 after buying an additional 850,294 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Aptiv by 138.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,289,388 shares of the auto parts company’s stock worth $127,121,000 after buying an additional 747,666 shares during the period. Impax Asset Management Group plc increased its stake in shares of Aptiv by 10.7% in the 3rd quarter. Impax Asset Management Group plc now owns 6,790,225 shares of the auto parts company’s stock worth $668,843,000 after acquiring an additional 656,845 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in Aptiv during the third quarter worth about $52,529,000. 94.21% of the stock is owned by hedge funds and other institutional investors.

Aptiv Stock Performance

NYSE APTV traded down $0.15 during trading hours on Wednesday, hitting $82.85. 327,348 shares of the company’s stock traded hands, compared to its average volume of 2,728,597. The company has a current ratio of 1.29, a quick ratio of 0.89 and a debt-to-equity ratio of 0.42. Aptiv PLC has a 52 week low of $68.84 and a 52 week high of $113.60. The firm has a market capitalization of $22.54 billion, a P/E ratio of 7.82, a P/E/G ratio of 0.97 and a beta of 1.90. The business’s fifty day moving average price is $76.35 and its two-hundred day moving average price is $80.42.

Aptiv (NYSE:APTV) last posted its quarterly earnings data on Thursday, May 2nd. The auto parts company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.05 by $0.11. The firm had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.99 billion. Aptiv had a return on equity of 13.21% and a net margin of 14.87%. Aptiv’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 EPS. Equities research analysts predict that Aptiv PLC will post 5.99 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Guggenheim dropped their price target on Aptiv from $103.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Piper Sandler cut their price objective on shares of Aptiv from $80.00 to $79.00 and set a “neutral” rating on the stock in a research report on Thursday, February 1st. Morgan Stanley downgraded shares of Aptiv from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $90.00 to $74.00 in a research note on Wednesday, February 7th. Oppenheimer reduced their price target on shares of Aptiv from $148.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Finally, Royal Bank of Canada reduced their target price on Aptiv from $115.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Aptiv has an average rating of “Moderate Buy” and a consensus price target of $108.15.

Insider Transactions at Aptiv

In related news, SVP Benjamin Lyon sold 18,680 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $77.69, for a total value of $1,451,249.20. Following the completion of the sale, the senior vice president now directly owns 95,211 shares of the company’s stock, valued at approximately $7,396,942.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Aptiv 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.