Delphi Technologies (DLPH) Shares Gap Up Following Strong Earnings

Delphi Technologies PLC (NYSE:DLPH)’s share price gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $47.61, but opened at $48.97. Delphi Technologies shares last traded at $50.04, with a volume of 2550193 shares traded.

The company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.11 by $0.13. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.19 billion. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year.

The business also recently disclosed an annual dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, February 6th were paid a $0.17 dividend. The ex-dividend date was Monday, February 5th.

Separately, Buckingham Research started coverage on Delphi Technologies in a research note on Thursday, February 8th. They issued a “neutral” rating and a $58.00 price objective on the stock.

In other Delphi Technologies news, Director Frank J. Dellaquila bought 500 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $86.50 per share, with a total value of $43,250.00. Following the purchase, the director now owns 2,247 shares of the company’s stock, valued at $194,365.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David Paja sold 6,287 shares of Delphi Technologies stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $92.08, for a total value of $578,906.96. The disclosure for this sale can be found here.

A number of institutional investors and hedge funds have recently modified their holdings of DLPH. Advisory Services Network LLC raised its stake in Delphi Technologies by 1,248.5% during the 2nd quarter. Advisory Services Network LLC now owns 1,389 shares of the company’s stock valued at $122,000 after purchasing an additional 1,286 shares during the period. Highstreet Asset Management Inc. bought a new stake in Delphi Technologies during the 3rd quarter valued at approximately $192,000. Global X MANAGEMENT CO LLC raised its stake in Delphi Technologies by 56.2% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 2,018 shares of the company’s stock valued at $199,000 after purchasing an additional 726 shares during the period. Kendall Capital Management bought a new stake in Delphi Technologies during the 4th quarter valued at approximately $203,000. Finally, Brown Advisory Inc. bought a new stake in Delphi Technologies during the 3rd quarter valued at approximately $212,000. 46.27% of the stock is currently owned by institutional investors.

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Delphi Technologies Company Profile

Delphi Technologies PLC is a develops, designs and manufactures powertrain technologies for original equipment manufacturers (OEMs). The Company’s segments is Products & Service Solutions (PSS). PSS segment sells aftermarket products to independent aftermarket and original equipment service customers.

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