Investors Buy Aptiv (APTV) on Weakness Following Analyst Downgrade

Traders purchased shares of Aptiv PLC (NYSE:APTV) on weakness during trading hours on Monday after Citigroup lowered their price target on the stock from $99.00 to $93.00. $56.43 million flowed into the stock on the tick-up and $28.60 million flowed out of the stock on the tick-down, for a money net flow of $27.83 million into the stock. Of all companies tracked, Aptiv had the 17th highest net in-flow for the day. Aptiv traded down ($3.36) for the day and closed at $76.10

A number of other equities research analysts have also issued reports on the company. Buckingham Research decreased their price target on Aptiv from $110.00 to $98.00 and set a “buy” rating for the company in a research note on Wednesday, October 3rd. Wolfe Research started coverage on Aptiv in a research note on Tuesday, October 2nd. They set an “outperform” rating for the company. Longbow Research set a $110.00 price target on Aptiv and gave the stock a “buy” rating in a research note on Friday, August 24th. Wells Fargo & Co decreased their price target on Aptiv from $111.00 to $106.00 and set an “outperform” rating for the company in a research note on Wednesday, October 17th. Finally, ValuEngine lowered Aptiv from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have issued a buy rating to the stock. Aptiv has a consensus rating of “Buy” and an average price target of $97.58.

In other news, SVP Susan M. Suver sold 1,174 shares of Aptiv stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $95.00, for a total value of $111,530.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Joseph R. Massaro sold 2,800 shares of Aptiv stock in a transaction on Friday, September 14th. The shares were sold at an average price of $86.24, for a total value of $241,472.00. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Large investors have recently made changes to their positions in the company. Senator Investment Group LP grew its stake in Aptiv by 25.0% during the 2nd quarter. Senator Investment Group LP now owns 4,000,000 shares of the auto parts company’s stock worth $366,520,000 after buying an additional 800,000 shares during the last quarter. Voya Investment Management LLC grew its stake in Aptiv by 449.8% during the 2nd quarter. Voya Investment Management LLC now owns 893,891 shares of the auto parts company’s stock worth $81,908,000 after buying an additional 731,302 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Aptiv by 67.2% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,069,058 shares of the auto parts company’s stock worth $97,958,000 after buying an additional 429,730 shares during the last quarter. Wells Fargo & Company MN grew its stake in Aptiv by 10.3% during the 2nd quarter. Wells Fargo & Company MN now owns 3,867,948 shares of the auto parts company’s stock worth $354,420,000 after buying an additional 362,531 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. grew its stake in Aptiv by 48,343.0% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 263,530 shares of the auto parts company’s stock worth $24,147,000 after buying an additional 262,986 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

The company has a quick ratio of 1.14, a current ratio of 1.54 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $20.94 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 1.15 and a beta of 1.59.

Aptiv (NYSE:APTV) last issued its quarterly earnings results on Wednesday, October 31st. The auto parts company reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.04. Aptiv had a return on equity of 37.53% and a net margin of 7.56%. The company had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.41 billion. The business’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, analysts forecast that Aptiv PLC will post 5.15 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 7th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $0.88 annualized dividend and a dividend yield of 1.16%. Aptiv’s dividend payout ratio (DPR) is presently 18.97%.

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Aptiv Company Profile (NYSE:APTV)

Aptiv PLC, together with its subsidiaries, designs and manufacturers vehicle components, and provides electrical, electronic, and safety technology solutions to the automotive and commercial vehicle markets worldwide. It operates through two segments, Signal and Power Solutions; and Advanced Safety and User Experience.

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