Aptiv (NYSE:APTV) Shares Gap Up on Better-Than-Expected Earnings

Aptiv PLC (NYSE:APTV)’s stock price gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $69.75, but opened at $75.42. Aptiv shares last traded at $75.81, with a volume of 1,136,214 shares.

The auto parts company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.11. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.99 billion. Aptiv had a net margin of 14.87% and a return on equity of 13.21%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 earnings per share.

Wall Street Analysts Forecast Growth

APTV has been the topic of several analyst reports. Oppenheimer lowered their target price on shares of Aptiv from $148.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday. Morgan Stanley downgraded Aptiv from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $90.00 to $74.00 in a research note on Wednesday, February 7th. Wells Fargo & Company decreased their target price on Aptiv from $84.00 to $83.00 in a research report on Monday, April 8th. Citigroup dropped their price target 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. Finally, UBS Group upped their price objective on shares of Aptiv from $107.00 to $110.00 in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $109.29.

Insider Transactions at Aptiv

In other Aptiv news, SVP Benjamin Lyon sold 18,680 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $77.69, for a total value 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Aptiv

Several institutional investors and hedge funds have recently bought and sold shares of APTV. Riverview Trust Co acquired a new stake in shares of Aptiv during the 1st quarter valued at about $25,000. Hazlett Burt & Watson Inc. bought a new position in Aptiv during the first quarter worth about $28,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Aptiv during the fourth quarter valued at approximately $29,000. GAMMA Investing LLC bought a new stake in shares of Aptiv in the 4th quarter valued at approximately $32,000. Finally, Mather Group LLC. acquired a new position in shares of Aptiv in the 1st quarter worth approximately $33,000. Institutional investors own 94.21% of the company’s stock.

Aptiv Price Performance

The company has a 50-day moving average of $76.05 and a 200 day moving average of $80.83. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.29. The firm has a market cap of $22.04 billion, a P/E ratio of 7.62, a P/E/G ratio of 0.94 and a beta of 1.90.

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.