PNC Financial Services Group Inc. increased its stake in shares of Aptiv PLC (NYSE:APTV) by 12.3% during the third quarter, HoldingsChannel.com reports. The fund owned 49,337 shares of the auto parts company’s stock after buying an additional 5,396 shares during the period. PNC Financial Services Group Inc.’s holdings in Aptiv were worth $4,138,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of APTV. Raymond James Financial Services Advisors Inc. raised its position in Aptiv by 9.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 24,823 shares of the auto parts company’s stock valued at $2,275,000 after acquiring an additional 2,094 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Aptiv during the second quarter valued at approximately $776,000. First Trust Advisors LP purchased a new position in Aptiv during the second quarter valued at approximately $2,731,000. Fiera Capital Corp raised its position in Aptiv by 3.4% during the second quarter. Fiera Capital Corp now owns 234,278 shares of the auto parts company’s stock valued at $21,467,000 after acquiring an additional 7,701 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new position in Aptiv during the second quarter valued at approximately $4,419,000. Institutional investors and hedge funds own 93.34% of the company’s stock.
Shares of NYSE:APTV opened at $71.58 on Thursday. The company has a current ratio of 1.54, a quick ratio of 1.14 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $18.86 billion, a PE ratio of 15.43, a PEG ratio of 1.03 and a beta of 1.58. Aptiv PLC has a 1 year low of $70.41 and a 1 year high of $103.23.
Aptiv (NYSE:APTV) last issued its quarterly earnings results on Wednesday, October 31st. The auto parts company reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.04. The firm had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.41 billion. Aptiv had a return on equity of 37.53% and a net margin of 7.56%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. Research analysts anticipate that Aptiv PLC will post 5.15 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 7th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Tuesday, November 6th. Aptiv’s dividend payout ratio is presently 18.97%.
APTV has been the subject of several recent research reports. Citigroup reduced their price target on Aptiv from $99.00 to $93.00 and set a “buy” rating for the company in a research report on Friday, November 2nd. Longbow Research set a $110.00 price target on Aptiv and gave the company a “buy” rating in a research report on Friday, August 24th. Buckingham Research cut their price objective on Aptiv from $110.00 to $98.00 and set a “buy” rating for the company in a research report on Wednesday, October 3rd. Jefferies Financial Group began coverage on Aptiv in a research report on Tuesday. They issued a “buy” rating and a $100.00 price objective for the company. Finally, TheStreet cut Aptiv from a “b” rating to a “c+” rating in a research report on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Aptiv currently has an average rating of “Buy” and an average price target of $99.33.
In other news, CFO Joseph R. Massaro sold 2,800 shares of Aptiv stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $86.24, for a total value of $241,472.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.32% of the company’s stock.
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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.
Further Reading: Stock Symbols and CUSIP Explained
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