Truist Financial Corp Grows Stake in Aptiv PLC $APTV

Truist Financial Corp boosted its position in shares of Aptiv PLC (NYSE:APTV) by 1,036.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 396,443 shares of the auto parts company’s stock after purchasing an additional 361,546 shares during the quarter. Truist Financial Corp owned approximately 0.18% of Aptiv worth $34,181,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp increased its holdings in Aptiv by 1.2% during the 2nd quarter. State Street Corp now owns 9,754,226 shares of the auto parts company’s stock valued at $665,433,000 after acquiring an additional 111,506 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Aptiv by 9.0% during the second quarter. Alliancebernstein L.P. now owns 3,831,441 shares of the auto parts company’s stock valued at $261,381,000 after acquiring an additional 315,824 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Aptiv by 7.1% during the second quarter. Invesco Ltd. now owns 3,618,847 shares of the auto parts company’s stock worth $246,878,000 after buying an additional 238,880 shares in the last quarter. Franklin Resources Inc. grew its stake in Aptiv by 6.6% in the 2nd quarter. Franklin Resources Inc. now owns 3,579,344 shares of the auto parts company’s stock worth $244,183,000 after acquiring an additional 221,449 shares during the period. Finally, Nordea Investment Management AB grew its stake in Aptiv by 14,336.5% in the 3rd quarter. Nordea Investment Management AB now owns 3,411,780 shares of the auto parts company’s stock worth $291,127,000 after acquiring an additional 3,388,147 shares during the period. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Aptiv

In related news, EVP Katherine H. Ramundo sold 5,000 shares of Aptiv stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $85.00, for a total value of $425,000.00. Following the completion of the transaction, the executive vice president directly owned 116,959 shares in the company, valued at approximately $9,941,515. This trade represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.45% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on APTV. TD Cowen reiterated a “buy” rating on shares of Aptiv in a research note on Friday, October 31st. JPMorgan Chase & Co. boosted their price objective on shares of Aptiv from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Wells Fargo & Company cut their target price on Aptiv from $100.00 to $99.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 9th. US Capital Advisors set a $110.00 price target on Aptiv in a research report on Tuesday, January 13th. Finally, Morgan Stanley set a $84.00 price objective on Aptiv and gave the company an “equal weight” rating in a research note on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $99.48.

Aptiv Stock Up 1.4%

Shares of NYSE:APTV opened at $78.86 on Friday. The company has a market capitalization of $17.04 billion, a price-to-earnings ratio of 62.59, a price-to-earnings-growth ratio of 0.95 and a beta of 1.50. The company has a 50 day moving average of $78.58 and a two-hundred day moving average of $78.64. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.80. Aptiv PLC has a 52-week low of $47.19 and a 52-week high of $88.93.

Aptiv (NYSE:APTV) last released its quarterly earnings results on Thursday, October 30th. The auto parts company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.36. Aptiv had a net margin of 1.46% and a return on equity of 18.51%. The firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the previous year, the firm posted $1.83 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, analysts forecast that Aptiv PLC will post 7.2 earnings per share for the current fiscal year.

About Aptiv

Aptiv plc is a global automotive technology company that develops safer, greener and more connected solutions for the mobility industry. The company designs and supplies advanced electrical architectures, electronic systems and software that enable vehicle connectivity, active safety, advanced driver-assistance systems (ADAS) and autonomous driving capabilities. Aptiv’s customers include major automakers and mobility service providers seeking to integrate higher levels of automation, electrification and software-defined features into production vehicles and mobility platforms.

Product and service offerings span vehicle electrical systems and wiring, connectors and harnesses, high-voltage electrification components, power electronics and charging solutions, sensors and compute platforms that support ADAS and autonomous functions, and the software and services required to integrate and manage these systems.