RNC Capital Management LLC Decreases Stake in Aptiv PLC (NYSE:APTV)

RNC Capital Management LLC reduced its stake in shares of Aptiv PLC (NYSE:APTV) by 11.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,771 shares of the auto parts company’s stock after selling 3,239 shares during the period. RNC Capital Management LLC’s holdings in Aptiv were worth $2,312,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in APTV. Norges Bank purchased a new stake in shares of Aptiv during the 4th quarter worth $382,261,000. Price T Rowe Associates Inc. MD boosted its position in shares of 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 worth $305,605,000 after purchasing an additional 2,119,819 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Aptiv by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 31,372,005 shares of the auto parts company’s stock worth $3,092,966,000 after purchasing an additional 1,265,774 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Aptiv during the 2nd quarter worth $79,896,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Aptiv by 138.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,289,388 shares of the auto parts company’s stock worth $127,121,000 after buying an additional 747,666 shares in the last quarter. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Aptiv Trading Up 2.7 %

NYSE APTV opened at $78.64 on Thursday. Aptiv PLC has a 12 month low of $71.01 and a 12 month high of $113.60. The company has a 50-day moving average of $80.06 and a 200-day moving average of $85.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.72 and a quick ratio of 1.22. The company has a market cap of $21.44 billion, a P/E ratio of 7.59, a P/E/G ratio of 1.02 and a beta of 1.90.

Aptiv (NYSE:APTV) last posted its quarterly earnings data on Wednesday, January 31st. The auto parts company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.11. Aptiv had a net margin of 14.65% and a return on equity of 13.32%. The company had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.95 billion. As a group, equities analysts predict that Aptiv PLC will post 5.67 earnings per share for the current year.

Insider Activity

In other news, SVP Benjamin Lyon sold 18,680 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $77.69, for a total transaction of $1,451,249.20. Following the completion of the transaction, the senior vice president now owns 95,211 shares of the company’s stock, valued at approximately $7,396,942.59. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on APTV. Robert W. Baird lowered shares of Aptiv from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $105.00 to $96.00 in a research report on Wednesday, January 3rd. Piper Sandler decreased their price objective on shares of Aptiv from $80.00 to $79.00 and set a “neutral” rating on the stock in a research report on Thursday, February 1st. Citigroup decreased their price objective on shares of Aptiv from $150.00 to $136.00 and set a “buy” rating on the stock in a research report on Thursday, February 1st. JPMorgan Chase & Co. decreased their price objective on shares of Aptiv from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th. Finally, Morgan Stanley lowered shares of Aptiv from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $90.00 to $74.00 in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $113.57.

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.