HITE Hedge Asset Management LLC Acquires 233,928 Shares of Aptiv PLC (NYSE:APTV)

HITE Hedge Asset Management LLC boosted its holdings in Aptiv PLC (NYSE:APTV) by 388.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 294,152 shares of the auto parts company’s stock after acquiring an additional 233,928 shares during the quarter. Aptiv accounts for 2.8% of HITE Hedge Asset Management LLC’s portfolio, making the stock its 9th largest position. HITE Hedge Asset Management LLC owned about 0.11% of Aptiv worth $26,391,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in Aptiv during the 4th quarter valued at $382,261,000. Price T Rowe Associates Inc. MD boosted its stake in Aptiv by 350.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,723,984 shares of the auto parts company’s stock valued at $305,605,000 after purchasing an additional 2,119,819 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Aptiv by 17.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 9,520,838 shares of the auto parts company’s stock valued at $854,210,000 after purchasing an additional 1,405,569 shares in the last quarter. Vanguard Group Inc. boosted its stake in Aptiv by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 31,372,005 shares of the auto parts company’s stock valued at $3,092,966,000 after purchasing an additional 1,265,774 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Aptiv by 65.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,158,382 shares of the auto parts company’s stock valued at $193,650,000 after purchasing an additional 850,294 shares in the last quarter. 89.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Benjamin Lyon sold 18,680 shares of Aptiv stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $77.69, for a total transaction of $1,451,249.20. Following the sale, the senior vice president now directly owns 95,211 shares of the company’s stock, valued at $7,396,942.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on APTV shares. Royal Bank of Canada decreased their price target on Aptiv from $115.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, February 1st. Citigroup reduced their price objective on Aptiv from $150.00 to $136.00 and set a “buy” rating for the company in a research note on Thursday, February 1st. JPMorgan Chase & Co. reduced their price objective on Aptiv from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. Piper Sandler reduced their price objective on Aptiv from $80.00 to $79.00 and set a “neutral” rating for the company in a research note on Thursday, February 1st. Finally, Guggenheim reduced their price objective on Aptiv from $120.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $113.57.

Aptiv Stock Up 1.4 %

Shares of NYSE:APTV traded up $1.04 during midday trading on Friday, hitting $77.24. 3,848,731 shares of the stock were exchanged, compared to its average volume of 2,934,284. Aptiv PLC has a 52-week low of $71.01 and a 52-week high of $113.60. The business’s fifty day simple moving average is $80.58 and its two-hundred day simple moving average is $86.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.22 and a current ratio of 1.72. The company has a market capitalization of $21.06 billion, a PE ratio of 7.46, a P/E/G ratio of 1.03 and a beta of 1.90.

Aptiv (NYSE:APTV) last posted its earnings results on Wednesday, January 31st. The auto parts company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.11. Aptiv had a return on equity of 13.32% and a net margin of 14.65%. The company had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.95 billion. As a group, research analysts predict that Aptiv PLC will post 5.64 earnings per share for the current fiscal year.

About Aptiv

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.