Aptiv (NYSE:APTV) Trading 7.5% Higher on Better-Than-Expected Earnings

Aptiv PLC (NYSE:APTV) shares traded up 7.5% during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $88.98 and last traded at $87.65, 3,401,216 shares traded hands during mid-day trading. An increase of 103% from the average session volume of 1,671,859 shares. The stock had previously closed at $81.57.

The auto parts company reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.20. Aptiv had a return on equity of 35.66% and a net margin of 6.95%. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter in the prior year, the business earned $1.40 earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Tuesday, August 6th. Aptiv’s dividend payout ratio (DPR) is presently 16.73%.

A number of brokerages recently weighed in on APTV. Credit Suisse Group began coverage on Aptiv in a report on Wednesday, June 26th. They set an “outperform” rating and a $78.92 price objective on the stock. Wolfe Research lowered Aptiv from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 18th. Zacks Investment Research lowered Aptiv from a “hold” rating to a “sell” rating and set a $80.00 price objective on the stock. in a report on Tuesday, June 18th. Buckingham Research dropped their price objective on Aptiv from $80.00 to $76.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Finally, Morgan Stanley dropped their price objective on Aptiv from $67.00 to $65.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $90.76.

Large investors have recently modified their holdings of the company. Thor Advisors LLC purchased a new stake in shares of Aptiv in the first quarter valued at $33,000. Botty Investors LLC purchased a new position in Aptiv during the first quarter worth about $40,000. Essex Savings Bank lifted its position in Aptiv by 88.1% during the first quarter. Essex Savings Bank now owns 555 shares of the auto parts company’s stock worth $44,000 after buying an additional 260 shares during the period. Truvestments Capital LLC purchased a new position in Aptiv during the first quarter worth about $50,000. Finally, Advisors Preferred LLC purchased a new position in Aptiv during the first quarter worth about $50,000. Institutional investors and hedge funds own 94.53% of the company’s stock.

The business has a 50-day moving average price of $79.14. The firm has a market cap of $21.25 billion, a PE ratio of 16.66, a PEG ratio of 1.49 and a beta of 2.06. The company has a quick ratio of 0.87, a current ratio of 1.20 and a debt-to-equity ratio of 1.20.

Aptiv Company Profile (NYSE:APTV)

Aptiv PLC, together with its subsidiaries, designs and manufacturers vehicle components, and provides electrical, electronic, and safety technology solutions to the automotive and commercial vehicle markets worldwide. It operates through two segment, Signal and Power Solutions, and Advanced Safety and User Experience.

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