Aptiv (NYSE:APTV) Shares Gap Up on Strong Earnings

Aptiv PLC (NYSE:APTV) shares gapped up prior to trading on Thursday following a better than expected earnings announcement. 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 changing hands.

The auto parts company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.11. The company 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 firm’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Oppenheimer cut their price objective on Aptiv from $148.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday. Wells Fargo & Company lowered their price objective on Aptiv from $84.00 to $83.00 in a research note on Monday, April 8th. Royal Bank of Canada cut their target price on shares of Aptiv from $115.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday, February 1st. Citigroup decreased their price target on shares of Aptiv from $150.00 to $136.00 and set a “buy” rating for the company in a research report on Thursday, February 1st. Finally, Morgan Stanley lowered shares of Aptiv from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $90.00 to $74.00 in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $109.29.

Insiders Place Their Bets

In other Aptiv news, SVP Benjamin Lyon sold 18,680 shares of Aptiv 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 sale, the senior vice president now directly owns 95,211 shares in the company, valued at $7,396,942.59. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Aptiv

A number of large investors have recently bought and sold shares of APTV. Assetmark Inc. boosted its position in shares of Aptiv by 7.8% during the third quarter. Assetmark Inc. now owns 1,780 shares of the auto parts company’s stock valued at $175,000 after buying an additional 129 shares during the last quarter. Steph & Co. raised its stake in Aptiv by 4.3% in the 3rd quarter. Steph & Co. now owns 3,149 shares of the auto parts company’s stock valued at $310,000 after acquiring an additional 130 shares during the period. Financial Advocates Investment Management lifted its stake in shares of Aptiv by 5.9% during the 4th quarter. Financial Advocates Investment Management now owns 2,356 shares of the auto parts company’s stock valued at $211,000 after buying an additional 132 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Aptiv by 2.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 6,440 shares of the auto parts company’s stock worth $578,000 after acquiring an additional 145 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Aptiv by 11.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,444 shares of the auto parts company’s stock worth $130,000 after purchasing an additional 146 shares during the period. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Aptiv Trading Up 3.9 %

The company has a market cap of $22.04 billion, a PE ratio of 7.62, a PEG ratio of 0.94 and a beta of 1.90. The firm’s 50 day moving average is $76.05 and its 200 day moving average is $80.83. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.29 and a quick ratio of 1.22.

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.