Sumitomo Mitsui Trust Group Inc. Sells 32,275 Shares of Aptiv PLC $APTV

Sumitomo Mitsui Trust Group Inc. reduced its stake in Aptiv PLC (NYSE:APTV) by 5.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 511,376 shares of the auto parts company’s stock after selling 32,275 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Aptiv worth $35,510,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APTV. NewEdge Advisors LLC grew its stake in Aptiv by 502.1% in the 1st quarter. NewEdge Advisors LLC now owns 15,557 shares of the auto parts company’s stock valued at $926,000 after buying an additional 12,973 shares during the last quarter. Woodline Partners LP increased its stake in shares of 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 purchasing an additional 61,994 shares during the period. Focus Partners Wealth lifted its position in shares of Aptiv by 110.7% during the 1st quarter. Focus Partners Wealth now owns 9,511 shares of the auto parts company’s stock worth $566,000 after purchasing an additional 4,998 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Aptiv by 452.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 486 shares of the auto parts company’s stock valued at $29,000 after purchasing an additional 398 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Aptiv by 523.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,561 shares of the auto parts company’s stock valued at $175,000 after purchasing an additional 2,150 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. JPMorgan Chase & Co. dropped their price target on Aptiv from $84.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday. President Capital started coverage on shares of Aptiv in a research note on Wednesday, March 25th. They issued a “buy” rating and a $82.50 price objective on the stock. BNP Paribas Exane dropped their target price on shares of Aptiv from $107.00 to $83.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 14th. Evercore cut their target price on shares of Aptiv from $100.00 to $80.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Finally, UBS Group reduced their price target on shares of Aptiv from $97.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Twenty-two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Aptiv currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.50.

Insider Activity

In other news, EVP Katherine H. Ramundo sold 2,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $78.30, for a total value of $156,600.00. Following the sale, the executive vice president owned 163,752 shares in the company, valued at approximately $12,821,781.60. The trade was a 1.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Aptiv Stock Down 2.3%

APTV opened at $59.17 on Tuesday. The company has a market capitalization of $12.52 billion, a P/E ratio of 35.01, a P/E/G ratio of 1.12 and a beta of 1.46. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.11 and a quick ratio of 1.57. The firm’s fifty day moving average price is $61.46 and its two-hundred day moving average price is $68.96. Aptiv PLC has a fifty-two week low of $51.68 and a fifty-two week high of $88.93.

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 analysts’ consensus estimates of $1.62 by $0.09. Aptiv had a net margin of 1.77% and a return on equity of 17.83%. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the previous year, the firm posted $1.69 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts anticipate that Aptiv PLC will post 5.96 EPS for the current 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.