Short Interest in Aptiv PLC (NYSE:APTV) Decreases By 11.1%

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APTV. Independence Bank of Kentucky acquired a new position in Aptiv in the 2nd quarter valued at $25,000. Crewe Advisors LLC grew its holdings 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 purchasing an additional 215 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of Aptiv by 1,410.3% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 438 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 409 shares in the last quarter. Wolff Wiese Magana LLC grew its holdings 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 worth $36,000 after purchasing an additional 155 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Aptiv during the 2nd quarter worth $38,000. 94.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Robert W. Baird cut their target price on Aptiv from $85.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Wolfe Research began coverage on Aptiv in a research note on Thursday, September 5th. They issued an “outperform” rating and a $89.00 target price on the stock. TD Cowen dropped their price objective on Aptiv from $95.00 to $74.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Morgan Stanley dropped their price objective on Aptiv from $68.00 to $60.00 and set an “underweight” rating on the stock in a research note on Thursday. Finally, Fox Advisors cut Aptiv from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.53.

Aptiv Stock Performance

APTV traded down $1.10 during trading hours on Friday, reaching $52.93. The company’s stock had a trading volume of 7,780,257 shares, compared to its average volume of 4,458,853. Aptiv has a 52 week low of $52.14 and a 52 week high of $91.66. The company’s 50-day moving average is $66.50 and its 200-day moving average is $71.34. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.06 and a current ratio of 1.50. The firm has a market cap of $12.44 billion, a PE ratio of 5.91, a price-to-earnings-growth ratio of 0.47 and a beta of 1.81.

Aptiv (NYSE:APTV) last issued its quarterly earnings data 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. Aptiv had a return on equity of 14.51% and a net margin of 12.29%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period in the prior year, the firm posted $1.30 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities analysts forecast that Aptiv will post 6.18 EPS 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.