Fred Alger Management LLC Raises Stock Holdings in Aptiv PLC (NYSE:APTV)

Fred Alger Management LLC boosted its holdings in Aptiv PLC (NYSE:APTV – Get Rating) by 2,230.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 132,427 shares of the auto parts company’s stock after buying an additional 126,745 shares during the quarter. Fred Alger Management LLC’s holdings in Aptiv were worth $10,357,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Salem Investment Counselors Inc. raised its position in Aptiv by 176.0% in the 2nd quarter. Salem Investment Counselors Inc. now owns 276 shares of the auto parts company’s stock worth $25,000 after buying an additional 176 shares during the last quarter. Guardian Wealth Advisors LLC purchased a new stake in shares of Aptiv during the 3rd quarter valued at about $28,000. Neo Ivy Capital Management increased its position in shares of Aptiv by 80.2% during the 2nd quarter. Neo Ivy Capital Management now owns 728 shares of the auto parts company’s stock valued at $64,000 after purchasing an additional 324 shares during the last quarter. Private Trust Co. NA purchased a new stake in shares of Aptiv during the 2nd quarter valued at about $73,000. Finally, CI Investments Inc. increased its position in shares of Aptiv by 60.8% during the 3rd quarter. CI Investments Inc. now owns 857 shares of the auto parts company’s stock valued at $67,000 after purchasing an additional 324 shares during the last quarter. Hedge funds and other institutional investors own 90.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on APTV. Barclays began coverage on shares of Aptiv in a research report on Tuesday, February 14th. They set an “overweight” rating and a $150.00 price target for the company. Cowen upped their price target on shares of Aptiv from $134.00 to $144.00 and gave the company an “outperform” rating in a research report on Wednesday, February 15th. Robert W. Baird upped their price target on shares of Aptiv from $135.00 to $141.00 and gave the company an “outperform” rating in a research report on Wednesday, February 15th. Citigroup boosted their price objective on Aptiv from $138.00 to $154.00 and gave the company a “buy” rating in a research note on Wednesday, February 15th. Finally, Morgan Stanley downgraded Aptiv from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $120.00 to $105.00 in a research note on Monday, November 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $135.76.

Insider Transactions at Aptiv

In other news, CEO Kevin P. Clark sold 6,665 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $115.82, for a total transaction of $771,940.30. Following the sale, the chief executive officer now directly owns 545,907 shares of the company’s stock, valued at approximately $63,226,948.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Kevin P. Clark sold 6,665 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $115.82, for a total transaction of $771,940.30. Following the sale, the chief executive officer now directly owns 545,907 shares of the company’s stock, valued at approximately $63,226,948.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO William T. Presley sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $120.00, for a total value of $840,000.00. Following the sale, the chief operating officer now directly owns 62,833 shares in the company, valued at $7,539,960. The disclosure for this sale can be found here. Insiders have sold 26,995 shares of company stock valued at $3,024,121 in the last ninety days. Corporate insiders own 0.41% of the company’s stock.

Aptiv Trading Up 2.5 %

APTV stock opened at $113.00 on Wednesday. Aptiv PLC has a 1-year low of $77.96 and a 1-year high of $129.18. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.60 and a quick ratio of 1.12. The company has a market capitalization of $30.62 billion, a price-to-earnings ratio of 57.95, a PEG ratio of 2.33 and a beta of 2.04. The business has a 50 day simple moving average of $111.07 and a two-hundred day simple moving average of $100.01.

Aptiv (NYSE:APTV – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The auto parts company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.08. Aptiv had a return on equity of 11.29% and a net margin of 3.40%. The business had revenue of $4.64 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same period in the prior year, the company posted $0.56 EPS. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. Research analysts anticipate that Aptiv PLC will post 4.37 EPS for the current fiscal year.

Aptiv Profile

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Aptiv Plc is a technology and mobility architecture company, which engages in the business of designing and manufacturing vehicle components; providing electrical, electronic, and active safety technology solutions to the global automotive and commercial vehicle markets; and creating the software and hardware foundation for vehicle features and functionality.