Short Interest in Aptiv PLC (NYSE:APTV) Decreases By 11.1%

Aptiv PLC (NYSE:APTV) was the target of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 22,750,000 shares, a drop of 11.1% from the October 15th total of 25,580,000 shares. Based on an average trading volume of 3,450,000 shares, the short-interest ratio is currently 6.6 days. Approximately 10.0% of the shares of the company are short sold.

Aptiv Trading Down 2.0 %

NYSE:APTV traded down $1.10 on Friday, hitting $52.93. 7,780,257 shares of the stock were exchanged, compared to its average volume of 4,458,853. The stock has a market capitalization of $12.44 billion, a price-to-earnings ratio of 5.91, a P/E/G ratio of 0.47 and a beta of 1.81. Aptiv has a 52 week low of $52.14 and a 52 week high of $91.66. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.06 and a current ratio of 1.50. The company’s 50-day moving average price is $66.50 and its 200 day moving average price is $71.34.

Aptiv (NYSE:APTV) last posted its earnings results on Thursday, October 31st. The auto parts company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.15. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $5.10 billion. Aptiv had a return on equity of 14.51% and a net margin of 12.29%. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.30 EPS. On average, equities research analysts forecast that Aptiv will post 6.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Fox Advisors downgraded shares of Aptiv from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 1st. Wolfe Research began coverage on shares of Aptiv in a research note on Thursday, September 5th. They issued an “outperform” rating and a $89.00 price objective on the stock. Barclays decreased their price target on shares of Aptiv from $100.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Morgan Stanley decreased their price target on shares of Aptiv from $68.00 to $60.00 and set an “underweight” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada decreased their price target on shares of Aptiv from $82.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Aptiv currently has an average rating of “Moderate Buy” and an average target price of $86.53.

Hedge Funds Weigh In On Aptiv

Several institutional investors have recently modified their holdings of the stock. Empowered Funds LLC grew its position in shares of Aptiv by 81.2% in the 1st quarter. Empowered Funds LLC now owns 5,334 shares of the auto parts company’s stock valued at $425,000 after purchasing an additional 2,390 shares during the period. Orion Portfolio Solutions LLC grew its position in shares of Aptiv by 7.4% in the 1st quarter. Orion Portfolio Solutions LLC now owns 32,043 shares of the auto parts company’s stock valued at $2,552,000 after purchasing an additional 2,200 shares during the period. M&G Plc acquired a new position in shares of Aptiv in the 1st quarter valued at approximately $8,337,000. Edgestream Partners L.P. acquired a new position in shares of Aptiv in the 1st quarter valued at approximately $252,000. Finally, Covestor Ltd grew its position in shares of Aptiv by 150.6% in the 1st quarter. Covestor Ltd now owns 1,787 shares of the auto parts company’s stock valued at $142,000 after purchasing an additional 1,074 shares during the period. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Aptiv Company 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.