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

Shares of Aptiv PLC (NYSE:APTV) gapped up before the market opened 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 trading hands.

The auto parts company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.11. Aptiv had a net margin of 14.65% and a return on equity of 13.32%. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the previous year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis.

Analysts Set New Price Targets

Several analysts have commented on the company. Robert W. Baird raised their price objective on Aptiv from $86.00 to $90.00 and gave the company a “neutral” rating in a report on Friday. UBS Group boosted their price target on shares of Aptiv from $107.00 to $110.00 in a report on Monday, April 8th. Guggenheim decreased their price objective on shares of Aptiv from $103.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Piper Sandler dropped their target price 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. Finally, Royal Bank of Canada reduced their price target on shares of Aptiv from $115.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.29.

Insider Buying and Selling

In related news, SVP Benjamin Lyon sold 18,680 shares of the firm’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 sale, the senior vice president now directly owns 95,211 shares in the company, valued at $7,396,942.59. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aptiv

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APTV. Gradient Investments LLC boosted its stake in Aptiv by 36.1% during the fourth quarter. Gradient Investments LLC now owns 154,944 shares of the auto parts company’s stock worth $13,902,000 after buying an additional 41,135 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Aptiv during the fourth quarter worth $13,120,000. Arbor Wealth Advisors LLC purchased a new position in shares of Aptiv during the fourth quarter worth $1,875,000. Douglas Lane & Associates LLC raised its holdings in shares of Aptiv by 20.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 378,655 shares of the auto parts company’s stock valued at $33,973,000 after buying an additional 65,354 shares during the period. Finally, OLD National Bancorp IN raised its holdings in shares of Aptiv by 23.7% in the 4th quarter. OLD National Bancorp IN now owns 70,926 shares of the auto parts company’s stock valued at $6,363,000 after buying an additional 13,579 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Aptiv Trading Up 3.9 %

The stock has a market cap of $22.04 billion, a price-to-earnings ratio of 7.80, a price-to-earnings-growth ratio of 0.88 and a beta of 1.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.22 and a current ratio of 1.72. The company has a 50 day moving average of $76.05 and a 200-day moving average of $80.83.

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.