Bank of New York Mellon Corp Reduces Stock Position in Aptiv PLC $APTV

Bank of New York Mellon Corp lowered its stake in Aptiv PLC (NYSE:APTV) by 19.9% during the 4th quarter, HoldingsChannel reports. The firm owned 1,063,793 shares of the auto parts company’s stock after selling 264,976 shares during the period. Bank of New York Mellon Corp’s holdings in Aptiv were worth $80,944,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in APTV. NewEdge Advisors LLC raised its position in Aptiv by 502.1% in the first quarter. NewEdge Advisors LLC now owns 15,557 shares of the auto parts company’s stock worth $926,000 after acquiring an additional 12,973 shares during the period. Woodline Partners LP raised its position in Aptiv by 439.2% in the first quarter. Woodline Partners LP now owns 76,109 shares of the auto parts company’s stock worth $4,528,000 after acquiring an additional 61,994 shares during the period. Focus Partners Wealth raised its position in Aptiv by 110.7% in the first quarter. Focus Partners Wealth now owns 9,511 shares of the auto parts company’s stock worth $566,000 after acquiring an additional 4,998 shares during the period. Geneos Wealth Management Inc. raised its position in Aptiv by 452.3% in the first quarter. Geneos Wealth Management Inc. now owns 486 shares of the auto parts company’s stock worth $29,000 after acquiring an additional 398 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Aptiv by 523.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,561 shares of the auto parts company’s stock worth $175,000 after acquiring an additional 2,150 shares during the period. 94.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on APTV. HSBC decreased their price target on shares of Aptiv from $81.32 to $75.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Evercore decreased their price target on shares of Aptiv from $100.00 to $80.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. Royal Bank Of Canada reduced their price objective on shares of Aptiv from $104.00 to $81.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Morgan Stanley raised shares of Aptiv from an “equal weight” rating to an “overweight” rating and set a $71.00 price objective for the company in a research note on Friday, May 8th. Finally, Oppenheimer reduced their price objective on shares of Aptiv from $106.00 to $84.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Aptiv has a consensus rating of “Moderate Buy” and a consensus target price of $82.33.

Insiders Place Their Bets

In related news, EVP Katherine H. Ramundo sold 2,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $78.30, for a total transaction of $156,600.00. Following the completion of the transaction, the executive vice president directly owned 163,752 shares of the company’s stock, valued at approximately $12,821,781.60. This trade represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Aptiv Stock Performance

APTV opened at $69.45 on Tuesday. The stock has a market capitalization of $14.70 billion, a price-to-earnings ratio of 41.09, a PEG ratio of 1.14 and a beta of 1.45. The company has a fifty day moving average of $60.76 and a 200 day moving average of $71.49. Aptiv PLC has a fifty-two week low of $51.68 and a fifty-two week high of $88.93. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.57 and a current ratio of 2.11.

Aptiv (NYSE:APTV) last posted its earnings results on Wednesday, May 6th. The auto parts company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.09. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.03 billion. Aptiv had a net margin of 1.77% and a return on equity of 17.83%. Aptiv’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the company posted $1.69 earnings per share. As a group, sell-side analysts forecast that Aptiv PLC will post 6.41 earnings per share for the current fiscal year.

Aptiv Company Profile

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.