HITE Hedge Asset Management LLC Has $1.28 Million Position in Aptiv PLC $APTV

HITE Hedge Asset Management LLC lessened its stake in shares of Aptiv PLC (NYSE:APTV) by 93.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,797 shares of the auto parts company’s stock after selling 258,579 shares during the period. HITE Hedge Asset Management LLC’s holdings in Aptiv were worth $1,278,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of APTV. Westpac Banking Corp raised its stake in shares of Aptiv by 6.6% during the fourth quarter. Westpac Banking Corp now owns 1,905 shares of the auto parts company’s stock worth $145,000 after acquiring an additional 118 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of Aptiv by 3.3% during the fourth quarter. Sivia Capital Partners LLC now owns 3,734 shares of the auto parts company’s stock worth $284,000 after acquiring an additional 120 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Aptiv by 4.2% during the fourth quarter. Advisors Asset Management Inc. now owns 3,559 shares of the auto parts company’s stock worth $271,000 after acquiring an additional 143 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of Aptiv by 0.5% during the fourth quarter. Benjamin Edwards Inc. now owns 34,728 shares of the auto parts company’s stock worth $2,642,000 after acquiring an additional 156 shares in the last quarter. Finally, Unified Investment Management raised its stake in shares of Aptiv by 1.3% during the fourth quarter. Unified Investment Management now owns 12,384 shares of the auto parts company’s stock worth $942,000 after acquiring an additional 161 shares in the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on APTV shares. Argus decreased their price target on shares of Aptiv from $99.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Zacks Research downgraded shares of Aptiv from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. BNP Paribas Exane decreased their target price on shares of Aptiv from $107.00 to $83.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Bank of America assumed coverage on shares of Aptiv in a research note on Wednesday, March 4th. They issued a “buy” rating on the stock. Finally, TD Cowen reaffirmed a “buy” rating on shares of Aptiv in a research note on Friday. Twenty-two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $82.67.

Insiders Place Their Bets

In related news, EVP Katherine H. Ramundo sold 2,000 shares of Aptiv stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $78.30, for a total value of $156,600.00. Following the sale, the executive vice president owned 163,752 shares in the company, valued at $12,821,781.60. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by company insiders.

Aptiv Stock Up 0.1%

Shares of NYSE APTV opened at $68.06 on Friday. The company has a quick ratio of 1.57, a current ratio of 2.11 and a debt-to-equity ratio of 0.98. Aptiv PLC has a 52 week low of $51.68 and a 52 week high of $88.93. The firm’s fifty day moving average is $60.86 and its 200 day moving average is $71.36. The company has a market cap of $14.40 billion, a price-to-earnings ratio of 40.27, a PEG ratio of 1.14 and a beta of 1.45.

Aptiv (NYSE:APTV) last issued its earnings results on Wednesday, May 6th. The auto parts company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.62 by $0.09. Aptiv had a net margin of 1.77% and a return on equity of 17.83%. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the previous year, the firm earned $1.69 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts expect that Aptiv PLC will post 6.37 earnings per share for the current 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.