EdgePoint Investment Group Inc. Sells 4,088,120 Shares of Aptiv PLC (NYSE:APTV)

EdgePoint Investment Group Inc. trimmed its position in Aptiv PLC (NYSE:APTV) by 99.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,664 shares of the auto parts company’s stock after selling 4,088,120 shares during the quarter. EdgePoint Investment Group Inc.’s holdings in Aptiv were worth $192,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Insigneo Advisory Services LLC grew its stake in shares of Aptiv by 5.7% during the third quarter. Insigneo Advisory Services LLC now owns 6,205 shares of the auto parts company’s stock worth $447,000 after buying an additional 337 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Aptiv by 1.5% in the third quarter. Wellington Management Group LLP now owns 539,042 shares of the auto parts company’s stock worth $38,816,000 after purchasing an additional 7,908 shares during the last quarter. Worldquant Millennium Advisors LLC grew its stake in shares of Aptiv by 44.0% in the third quarter. Worldquant Millennium Advisors LLC now owns 139,040 shares of the auto parts company’s stock worth $10,012,000 after purchasing an additional 42,463 shares during the last quarter. Wahed Invest LLC grew its stake in shares of Aptiv by 10.8% in the third quarter. Wahed Invest LLC now owns 6,612 shares of the auto parts company’s stock worth $476,000 after purchasing an additional 643 shares during the last quarter. Finally, Weiss Asset Management LP bought a new stake in shares of Aptiv in the third quarter worth $3,651,000. 94.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on APTV shares. StockNews.com started coverage on shares of Aptiv in a research note on Thursday. They issued a “hold” rating on the stock. TD Cowen dropped their target price on shares of Aptiv from $95.00 to $74.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Royal Bank of Canada dropped their target price on shares of Aptiv from $82.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on shares of Aptiv from $107.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Bank of America dropped their target price on shares of Aptiv from $105.00 to $102.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Aptiv presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.29.

Aptiv Stock Down 0.4 %

Aptiv stock opened at $56.67 on Friday. Aptiv PLC has a twelve month low of $51.47 and a twelve month high of $91.66. The firm has a 50 day moving average price of $62.46 and a 200-day moving average price of $68.85. The company has a market capitalization of $13.32 billion, a P/E ratio of 6.32, a P/E/G ratio of 0.57 and a beta of 1.78. The company has a quick ratio of 1.06, a current ratio of 1.50 and a debt-to-equity ratio of 0.91.

Aptiv (NYSE:APTV) last announced its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates 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 revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.30 EPS. As a group, equities analysts predict that Aptiv PLC will post 6.15 EPS for the current 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.