On April 18, 2023, the New Mexico Educational Retirement Board announced its decision to lower its position in Aptiv PLC by 7.2% during the fourth financial quarter. According to the company’s latest filing with the Securities and Exchange Commission (SEC), the fund owned 12,900 shares of Aptiv’s stock, which were worth $1,201,000.
Aptiv Plc is a leading technology and mobility architecture company that specializes in designing and manufacturing vehicle components. Additionally, it provides electrical, electronic, and active safety technology solutions for global automotive and commercial vehicle markets while creating software and hardware foundations for various features’ functionalities in vehicles.
The opening price of NYSE APTV was $107.60 on April 18th. The stock’s 50-day moving average price was $112.32 while its 200-day moving average price stood at $102.52. With a quick ratio of 1.12, current ratio of 1.60 and a debt-to-equity ratio of 0.72; Aptiv evidences sound financials despite high market volatility over recent months.
Over the last year alone, Aptiv PLC has seen quite significant growth in value with a low record of $77 at one point and spiked to a high record of $124 in another instance – truly remarkable progress from an investor’s point-of-view! As per market capitalization figures available as at April 18th this year; it was recorded that Aptiv had amassed a market cap total worth about $29 billion dollars!
Investors should note that Aptiv currently operates under an above-average P/E ratio of about 55 times earnings when compared to most stocks nowadays’. It also sits around about two-and-a-half times earnings relative to its annual growth so far earning it a price-to-earnings-growth ratio index weighing just above two points.
In summary, although New Mexico Educational Retirement Board lowered its position in Aptiv PLC by 7.2% in the fourth quarter of 2023, APTV’s impressive financial fundamentals guarantee that the tech company has continued room for growth and sustainability in the ever-expanding global marketplace for mobility architecture solutions.
Institutional Investors Increase Holdings in Aptiv Plc Despite Mixed Opinions on its Performance
Aptiv Plc, a technology and mobility architecture company, has recently seen its holdings being bought and reduced by hedge funds and institutional investors. Raymond James Financial Services Advisors Inc. upped their stakes in Aptiv by 5.6%, now owning 13,839 shares worth $1,657,000 while Panagora Asset Management Inc. grew its holdings by 127.8%, owning 10,798 shares worth $1,293,000 as of the first quarter of the year. Synovus Financial Corp boosted its stake in Aptiv with 15% during the same period, owning 3,395 shares worth $406,000 while Cibc World Market Inc.’s stakes increased by 25.4%, owning over 5,600 shares worth around $670,000 as of Q1.
Meanwhile, Sequoia Financial Advisors LLC boosted its stake in Aptiv by 32.6%. Hedge funds and other institutional investors now hold more than 90% of the company’s shares.
Aptiv Plc recently reported its quarterly earnings data on Thursday last week which showed an EPS of $1.27 per share for Q1; exceeding consensus estimates with a net margin of 3.40%. The revenue during that period grew to $4.64 billion which is significantly higher than the previous period’s revenue growth.
Despite this growth and increasing investments from institutions and hedge funds alike in Aptiv stock over recent months, some brokerage firms such as Oppenheimer have cut their target price from $159 to $152 downgrading the rating from “outperform” rating to “moderate buy”. Cowen had upgraded their target price on Aptiv to $144 from $134 stating that it was expecting more upside for the auto tech company citing market intelligence data as a reason for positive outlook regarding growth for several quarters moving forward.
Regardless of these mixed opinions about Aptiv’s performance, insiders are making moves selling shares during this period. CEO Kevin P. Clark sold 6,665 shares worth $771,940 while COO William T. Presley sold 7,000 worth of the company’s shares at an average price of $120.
