Bank of New York Mellon Corp Sells 166,824 Shares of Aptiv PLC (NYSE:APTV)

Bank of New York Mellon Corp reduced its holdings in Aptiv PLC (NYSE:APTV) by 8.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,714,676 shares of the auto parts company’s stock after selling 166,824 shares during the quarter. Bank of New York Mellon Corp owned about 0.63% of Aptiv worth $120,747,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Aptiv by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 31,697,555 shares of the auto parts company’s stock worth $2,843,905,000 after purchasing an additional 325,550 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Aptiv by 17.3% in the fourth 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 buying an additional 1,405,569 shares during the period. Capital World Investors bought a new stake in shares of Aptiv in the first quarter valued at $343,760,000. Clearbridge Investments LLC raised its stake in shares of Aptiv by 3.1% in the first quarter. Clearbridge Investments LLC now owns 4,315,484 shares of the auto parts company’s stock valued at $343,728,000 after buying an additional 131,431 shares during the period. Finally, EdgePoint Investment Group Inc. bought a new stake in shares of Aptiv in the first quarter valued at $335,426,000. 94.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on APTV. Nomura Securities upgraded Aptiv from a “strong sell” rating to a “hold” rating in a research note on Monday, August 19th. UBS Group lowered their target price on Aptiv from $107.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. The Goldman Sachs Group lowered their target price on Aptiv from $118.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Wells Fargo & Company decreased their price objective on Aptiv from $82.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Finally, Bank of America decreased their price objective on Aptiv from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.64.

Insider Transactions at Aptiv

In other news, Director Nancy E. Cooper sold 394 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $76.98, for a total value of $30,330.12. Following the completion of the transaction, the director now directly owns 13,636 shares in the company, valued at approximately $1,049,699.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.34% of the company’s stock.

Aptiv Price Performance

Shares of NYSE APTV opened at $70.83 on Wednesday. The firm has a market capitalization of $19.27 billion, a P/E ratio of 6.68, a P/E/G ratio of 0.66 and a beta of 1.79. The company has a quick ratio of 0.89, a current ratio of 1.49 and a debt-to-equity ratio of 0.47. The stock’s 50-day simple moving average is $70.10 and its two-hundred day simple moving average is $75.30. Aptiv PLC has a twelve month low of $65.13 and a twelve month high of $104.72.

Aptiv (NYSE:APTV) last announced its earnings results on Thursday, August 1st. The auto parts company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.16. Aptiv had a return on equity of 13.19% and a net margin of 18.46%. The business had revenue of $5.05 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same period in the prior year, the company earned $1.25 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, equities analysts anticipate that Aptiv PLC will post 6.3 EPS for the current fiscal year.

Aptiv Company Profile

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.