Palouse Capital Management Inc. Trims Stake in Aptiv PLC (NYSE:APTV)

Palouse Capital Management Inc. cut its stake in Aptiv PLC (NYSE:APTV) by 11.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,631 shares of the auto parts company’s stock after selling 1,993 shares during the quarter. Palouse Capital Management Inc.’s holdings in Aptiv were worth $945,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in APTV. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Aptiv by 1,390.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,361,795 shares of the auto parts company’s stock worth $386,103,000 after purchasing an additional 5,002,090 shares in the last quarter. Harris Associates L P acquired a new stake in shares of Aptiv in the 3rd quarter worth $162,640,000. Point72 Asset Management L.P. acquired a new stake in shares of Aptiv in the 3rd quarter worth $143,909,000. FMR LLC lifted its position in Aptiv by 20.4% during the 3rd quarter. FMR LLC now owns 7,648,369 shares of the auto parts company’s stock worth $550,759,000 after acquiring an additional 1,294,670 shares during the period. Finally, Franklin Resources Inc. lifted its position in Aptiv by 29.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,738,514 shares of the auto parts company’s stock worth $336,861,000 after acquiring an additional 1,090,766 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on APTV. Piper Sandler raised Aptiv from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $53.00 to $65.00 in a research report on Thursday, January 23rd. Hsbc Global Res raised Aptiv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Evercore ISI lowered their price target on Aptiv from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. Robert W. Baird raised Aptiv from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $75.00 to $82.00 in a research report on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft raised Aptiv from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Aptiv currently has a consensus rating of “Moderate Buy” and an average target price of $85.61.

Aptiv Price Performance

NYSE:APTV opened at $67.06 on Friday. Aptiv PLC has a 12 month low of $51.47 and a 12 month high of $85.56. The stock has a 50 day moving average of $61.15 and a two-hundred day moving average of $64.10. The company has a current ratio of 1.53, a quick ratio of 1.06 and a debt-to-equity ratio of 0.87. The firm has a market cap of $15.76 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 0.54 and a beta of 1.74.

Aptiv (NYSE:APTV) last issued its earnings results on Thursday, February 6th. The auto parts company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.12. Aptiv had a return on equity of 15.63% and a net margin of 9.07%. On average, analysts expect that Aptiv PLC will post 7.14 earnings per share for the current fiscal year.

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.