Arosa Capital Management LP Buys Shares of 34,000 Aptiv PLC (NYSE:APTV)

Arosa Capital Management LP purchased a new position in Aptiv PLC (NYSE:APTV) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 34,000 shares of the auto parts company’s stock, valued at approximately $2,448,000. Aptiv accounts for 0.9% of Arosa Capital Management LP’s portfolio, making the stock its 20th biggest position.

Several other hedge funds have also recently made changes to their positions in APTV. Wolff Wiese Magana LLC grew its stake in shares of Aptiv by 44.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 505 shares of the auto parts company’s stock valued at $36,000 after purchasing an additional 155 shares during the period. Signaturefd LLC grew its position in Aptiv by 6.2% during the second quarter. Signaturefd LLC now owns 2,682 shares of the auto parts company’s stock valued at $189,000 after buying an additional 156 shares during the period. Mather Group LLC. increased its holdings in Aptiv by 36.9% during the third quarter. Mather Group LLC. now owns 653 shares of the auto parts company’s stock valued at $47,000 after buying an additional 176 shares during the last quarter. Farther Finance Advisors LLC raised its position in Aptiv by 16.8% in the third quarter. Farther Finance Advisors LLC now owns 1,225 shares of the auto parts company’s stock worth $88,000 after acquiring an additional 176 shares during the period. Finally, Crewe Advisors LLC boosted its stake in shares of Aptiv by 94.7% during the 2nd 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 last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on APTV shares. Wolfe Research started coverage on Aptiv in a report on Thursday, September 5th. They issued an “outperform” rating and a $89.00 target price on the stock. Bank of America decreased their price objective on Aptiv from $105.00 to $102.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Royal Bank of Canada reduced their target price on shares of Aptiv from $82.00 to $72.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Wells Fargo & Company upgraded shares of Aptiv from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $78.00 to $87.00 in a research note on Friday, September 20th. Finally, StockNews.com initiated coverage on shares of Aptiv in a research report on Wednesday, November 27th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.29.

Aptiv Stock Performance

NYSE APTV opened at $55.53 on Monday. 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 PLC has a 1-year low of $51.47 and a 1-year high of $91.66. The business has a 50 day simple moving average of $63.69 and a two-hundred day simple moving average of $69.39. The stock has a market capitalization of $13.05 billion, a PE ratio of 6.20, a P/E/G ratio of 0.56 and a beta of 1.81.

Aptiv (NYSE:APTV) last announced its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.15. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Aptiv had a net margin of 12.29% and a return on equity of 14.51%. Aptiv’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.30 earnings per share. On average, research analysts predict that Aptiv PLC will post 6.15 EPS for the current fiscal year.

Aptiv 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.