Aptiv PLC (NYSE:APTV) Short Interest Down 11.1% in October

Aptiv PLC (NYSE:APTV) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 22,750,000 shares, a decrease of 11.1% from the October 15th total of 25,580,000 shares. Based on an average daily volume of 3,450,000 shares, the short-interest ratio is presently 6.6 days. Currently, 10.0% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on APTV. Royal Bank of Canada reduced their price objective on shares of Aptiv from $82.00 to $72.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Wolfe Research assumed coverage on shares of Aptiv in a research note on Thursday, September 5th. They set an “outperform” rating and a $89.00 target price for the company. Oppenheimer cut their target price on shares of Aptiv from $147.00 to $83.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. StockNews.com assumed coverage on shares of Aptiv in a research note on Tuesday. They set a “hold” rating for the company. Finally, Morgan Stanley cut their target price on shares of Aptiv from $68.00 to $60.00 and set an “underweight” rating for the company in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Aptiv has an average rating of “Moderate Buy” and an average price target of $86.53.

Hedge Funds Weigh In On Aptiv

Large investors have recently added to or reduced their stakes in the stock. Independence Bank of Kentucky acquired a new position in Aptiv during the second quarter worth $25,000. Crewe Advisors LLC raised its position in Aptiv by 94.7% during the second quarter. Crewe Advisors LLC now owns 442 shares of the auto parts company’s stock worth $31,000 after acquiring an additional 215 shares during the period. Brown Brothers Harriman & Co. raised its position in Aptiv by 1,410.3% during the third quarter. Brown Brothers Harriman & Co. now owns 438 shares of the auto parts company’s stock worth $32,000 after acquiring an additional 409 shares during the period. Wolff Wiese Magana LLC grew its holdings in shares of Aptiv by 44.3% during the third quarter. Wolff Wiese Magana LLC now owns 505 shares of the auto parts company’s stock worth $36,000 after buying an additional 155 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Aptiv during the second quarter worth $38,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Aptiv Stock Performance

NYSE:APTV traded down $0.20 during trading hours on Tuesday, hitting $52.51. 1,123,408 shares of the company were exchanged, compared to its average volume of 3,127,350. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.50 and a quick ratio of 1.06. Aptiv has a 52-week low of $51.47 and a 52-week high of $91.66. The company’s 50 day moving average price is $66.18 and its 200-day moving average price is $71.18. The stock has a market capitalization of $12.34 billion, a price-to-earnings ratio of 5.88, a PEG ratio of 0.47 and a beta of 1.81.

Aptiv (NYSE:APTV) last announced its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.68 by $0.15. Aptiv had a net margin of 12.29% and a return on equity of 14.51%. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the previous year, the business posted $1.30 EPS. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. As a group, research analysts forecast that Aptiv will post 6.18 earnings per share for the current year.

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.