Handelsbanken Fonder AB Reduces Holdings in Aptiv PLC (NYSE:APTV)

Handelsbanken Fonder AB lowered its stake in shares of Aptiv PLC (NYSE:APTV) by 19.9% in the first quarter, Holdings Channel reports. The institutional investor owned 87,629 shares of the auto parts company’s stock after selling 21,710 shares during the quarter. Handelsbanken Fonder AB’s holdings in Aptiv were worth $5,214,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of Aptiv during the fourth quarter valued at $106,492,000. Pictet Asset Management Holding SA increased its holdings in shares of Aptiv by 1,018.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,690,845 shares of the auto parts company’s stock valued at $102,262,000 after purchasing an additional 1,539,724 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Aptiv by 11.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 14,289,126 shares of the auto parts company’s stock valued at $864,206,000 after purchasing an additional 1,517,104 shares during the period. Franklin Resources Inc. grew its stake in shares of Aptiv by 29.7% in the 4th quarter. Franklin Resources Inc. now owns 6,146,947 shares of the auto parts company’s stock valued at $371,767,000 after buying an additional 1,408,433 shares in the last quarter. Finally, Paloma Partners Management Co grew its stake in shares of Aptiv by 968.7% in the 4th quarter. Paloma Partners Management Co now owns 909,500 shares of the auto parts company’s stock valued at $55,007,000 after buying an additional 824,400 shares in the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Aptiv Price Performance

Shares of NYSE APTV opened at $67.13 on Friday. The business’s 50 day moving average is $61.06 and its 200-day moving average is $61.27. Aptiv PLC has a 1-year low of $47.19 and a 1-year high of $80.95. The company has a current ratio of 1.53, a quick ratio of 1.07 and a debt-to-equity ratio of 0.87. The firm has a market cap of $14.62 billion, a P/E ratio of 9.76, a price-to-earnings-growth ratio of 0.62 and a beta of 1.47.

Aptiv (NYSE:APTV) last issued its earnings results on Thursday, May 1st. The auto parts company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.14. The firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.78 billion. Aptiv had a return on equity of 15.63% and a net margin of 9.07%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 EPS. Equities research analysts predict that Aptiv PLC will post 7.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on APTV. Wall Street Zen began coverage on Aptiv in a research report on Thursday, May 22nd. They set a “hold” rating for the company. Robert W. Baird decreased their target price on Aptiv from $84.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Morgan Stanley decreased their price target on Aptiv from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Monday, May 19th. Guggenheim cut Aptiv from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 4th. Finally, TD Cowen started coverage on Aptiv in a research report on Friday, March 7th. They issued a “buy” rating and a $90.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Aptiv currently has an average rating of “Moderate Buy” and an average price target of $82.50.

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.