WASHINGTON TRUST Co Reduces Position in Aptiv PLC (NYSE:APTV)

WASHINGTON TRUST Co lowered its position in Aptiv PLC (NYSE:APTV) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 163,831 shares of the auto parts company’s stock after selling 4,331 shares during the quarter. WASHINGTON TRUST Co owned approximately 0.06% of Aptiv worth $11,797,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APTV. Independence Bank of Kentucky acquired a new stake in Aptiv during the 2nd quarter worth approximately $25,000. Crewe Advisors LLC increased its stake in Aptiv by 94.7% in the 2nd quarter. Crewe Advisors LLC now owns 442 shares of the auto parts company’s stock valued at $31,000 after buying an additional 215 shares during the period. Clearstead Trust LLC raised its position in Aptiv by 305.0% during the 1st quarter. Clearstead Trust LLC now owns 405 shares of the auto parts company’s stock worth $32,000 after buying an additional 305 shares during the last quarter. Wolff Wiese Magana LLC lifted its stake in shares of Aptiv by 44.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 505 shares of the auto parts company’s stock worth $36,000 after acquiring an additional 155 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Aptiv in the second quarter valued at about $38,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Aptiv Price Performance

Shares of APTV traded up $0.36 during trading hours on Wednesday, reaching $69.51. 785,853 shares of the company traded hands, compared to its average volume of 2,943,524. The stock has a fifty day simple moving average of $70.20 and a 200 day simple moving average of $72.66. Aptiv PLC has a fifty-two week low of $63.62 and a fifty-two week high of $91.66. The stock has a market capitalization of $18.91 billion, a PE ratio of 6.52, a price-to-earnings-growth ratio of 0.65 and a beta of 1.79. The company has a quick ratio of 1.09, a current ratio of 1.49 and a debt-to-equity ratio of 0.47.

Aptiv (NYSE:APTV) last issued its quarterly earnings results on Thursday, August 1st. The auto parts company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.16. The business had revenue of $5.05 billion during the quarter, compared to the consensus estimate of $5.30 billion. Aptiv had a net margin of 18.46% and a return on equity of 13.19%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 earnings per share. As a group, research analysts predict that Aptiv PLC will post 6.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on APTV shares. Royal Bank of Canada increased their price target on shares of Aptiv from $85.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Evercore ISI reduced their price target on Aptiv from $125.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, July 15th. Barclays dropped their price objective on Aptiv from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. UBS Group reduced their target price on Aptiv from $107.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Finally, Robert W. Baird cut their price target on shares of Aptiv from $90.00 to $83.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Aptiv presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.50.

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.