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 the month of 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 days-to-cover ratio is currently 6.6 days. Approximately 10.0% of the company’s shares are sold short.

Aptiv Stock Performance

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

Aptiv (NYSE:APTV) last announced its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.68 by $0.15. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $5.10 billion. Aptiv had a return on equity of 14.51% and a net margin of 12.29%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.30 EPS. On average, equities analysts forecast that Aptiv will post 6.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Aptiv in a report on Tuesday. They issued a “hold” rating for the company. Wells Fargo & Company raised shares of Aptiv from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $78.00 to $87.00 in a report on Friday, September 20th. Nomura Securities raised shares of Aptiv from a “strong sell” rating to a “hold” rating in a report on Monday, August 19th. TD Cowen lowered their target price on shares of Aptiv from $95.00 to $74.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, Bank of America lowered their target price on shares of Aptiv from $105.00 to $102.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Aptiv presently has an average rating of “Moderate Buy” and an average target price of $86.53.

Institutional Investors Weigh In On Aptiv

Several institutional investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Aptiv by 15.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,861,135 shares of the auto parts company’s stock worth $905,681,000 after acquiring an additional 1,764,844 shares in the last quarter. FMR LLC raised its position in shares of Aptiv by 20.4% during the 3rd quarter. FMR LLC now owns 7,648,369 shares of the auto parts company’s stock worth $550,759,000 after purchasing an additional 1,294,670 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Aptiv by 13.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,515,074 shares of the auto parts company’s stock worth $529,212,000 after purchasing an additional 905,431 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Aptiv by 1,390.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,361,795 shares of the auto parts company’s stock worth $386,103,000 after purchasing an additional 5,002,090 shares during the last quarter. Finally, Capital World Investors acquired a new position in shares of Aptiv during the 1st quarter worth approximately $343,760,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

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.