Envestnet Asset Management Inc. Sells 1,016,867 Shares of Aptiv PLC (NYSE:APTV)

Envestnet Asset Management Inc. trimmed its position in Aptiv PLC (NYSE:APTV) by 77.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 287,803 shares of the auto parts company’s stock after selling 1,016,867 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Aptiv were worth $17,406,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in Aptiv during the 4th quarter worth about $106,492,000. Pictet Asset Management Holding SA raised its holdings in Aptiv by 1,018.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,690,845 shares of the auto parts company’s stock worth $102,262,000 after acquiring an additional 1,539,724 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Aptiv by 11.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 14,289,126 shares of the auto parts company’s stock valued at $864,206,000 after purchasing an additional 1,517,104 shares during the last quarter. Franklin Resources Inc. grew its stake in Aptiv by 29.7% in the fourth quarter. Franklin Resources Inc. now owns 6,146,947 shares of the auto parts company’s stock valued at $371,767,000 after purchasing an additional 1,408,433 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Aptiv by 25.4% during the 4th quarter. JPMorgan Chase & Co. now owns 2,724,091 shares of the auto parts company’s stock worth $168,619,000 after purchasing an additional 552,066 shares during the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APTV has been the subject of several recent analyst reports. UBS Group reissued a “neutral” rating and issued a $58.00 price objective (down previously from $91.00) on shares of Aptiv in a report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft raised shares of Aptiv from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Friday, February 7th. Evercore ISI dropped their target price on shares of Aptiv from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Robert W. Baird reduced their price target on Aptiv from $84.00 to $65.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Argus upgraded Aptiv to a “strong-buy” rating in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.44.

Aptiv Price Performance

Shares of Aptiv stock opened at $50.83 on Wednesday. The company has a 50-day simple moving average of $61.46 and a two-hundred day simple moving average of $61.42. Aptiv PLC has a twelve month low of $47.19 and a twelve month high of $85.56. The stock has a market capitalization of $11.66 billion, a price-to-earnings ratio of 7.39, a price-to-earnings-growth ratio of 0.62 and a beta of 1.64. The company has a quick ratio of 1.07, a current ratio of 1.53 and a debt-to-equity ratio of 0.87.

Aptiv (NYSE:APTV) last issued its quarterly earnings results on Thursday, February 6th. The auto parts company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.12. Aptiv had a return on equity of 15.63% and a net margin of 9.07%. Analysts forecast that Aptiv PLC will post 7.2 EPS for the current year.

Insider Transactions at Aptiv

In related news, SVP Benjamin Lyon sold 14,568 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $65.50, for a total transaction of $954,204.00. Following the completion of the sale, the senior vice president now owns 125,237 shares of the company’s stock, valued at $8,203,023.50. This represents a 10.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.45% of the stock is currently owned by insiders.

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.