Zacks Investment Research upgraded shares of Aptiv (NYSE:APTV) from a sell rating to a hold rating in a report published on Friday morning, Zacks.com reports. Zacks Investment Research currently has $89.00 price objective on the auto parts company’s stock.
According to Zacks, “Aptiv posted strong second-quarter 2019 results surpassing the Zacks Consensus Estimate on both earnings and revenues. The company is well positioned to leverage on growing electrification, connectivity and autonomy trends in the rapidly evolving automotive sector. It has ramped up investments in advanced technology and collaborations to make the most of the lucrative opportunities offered by the sector. Acquisitions have been helping the company to expand market presence. The stock has outperformed the industry year to date. On the flip side, a weak global demand environment continues to weigh on the company’s performance. It is seeing escalation in costs due to investment in organic as well as inorganic growth, and litigations. Seasonality causes considerable fluctuations in the company's revenues and makes profit forecasting difficult.”
APTV has been the subject of several other reports. Buckingham Research raised their price objective on Aptiv from $76.00 to $79.00 and gave the stock a neutral rating in a research note on Thursday. Cowen raised their price objective on Aptiv from $95.00 to $102.00 and gave the stock a top pick rating in a research note on Thursday. Robert W. Baird raised their price objective on Aptiv from $96.00 to $99.00 and gave the stock an outperform rating in a research note on Thursday. KeyCorp raised their price objective on Aptiv from $95.00 to $105.00 and gave the stock an overweight rating in a research note on Monday, April 22nd. Finally, Wolfe Research cut Aptiv from an outperform rating to a peer perform rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Aptiv has an average rating of Buy and an average target price of $92.16.
Aptiv (NYSE:APTV) last announced its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.20. Aptiv had a return on equity of 34.92% and a net margin of 6.86%. The firm had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same period last year, the business posted $1.40 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, analysts expect that Aptiv will post 5.12 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.08%. The ex-dividend date is Tuesday, August 6th. Aptiv’s dividend payout ratio is currently 16.73%.
A number of hedge funds have recently made changes to their positions in APTV. TimesSquare Capital Management LLC purchased a new position in Aptiv during the first quarter valued at approximately $55,571,000. Bessemer Group Inc. raised its position in Aptiv by 247,261.2% during the second quarter. Bessemer Group Inc. now owns 638,192 shares of the auto parts company’s stock valued at $51,586,000 after acquiring an additional 637,934 shares in the last quarter. Artisan Partners Limited Partnership raised its position in Aptiv by 7.2% during the first quarter. Artisan Partners Limited Partnership now owns 7,567,450 shares of the auto parts company’s stock valued at $601,537,000 after acquiring an additional 507,774 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Aptiv by 37.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,401,723 shares of the auto parts company’s stock valued at $86,306,000 after acquiring an additional 384,616 shares in the last quarter. Finally, FMR LLC raised its position in Aptiv by 11.9% during the fourth quarter. FMR LLC now owns 3,383,091 shares of the auto parts company’s stock valued at $208,296,000 after acquiring an additional 360,089 shares in the last quarter. Institutional investors own 94.49% of the company’s stock.
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 segment, Signal and Power Solutions, and Advanced Safety and User Experience.
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