In a recent development on Wednesday, UBS initiated coverage of Aptiv (NYSE:APTV), a global technology company focused on developing safer, greener, and more connected solutions for the future of mobility. The Swiss multinational investment bank and financial services company issued a Buy recommendation for the firm.
The average one-year price target for Aptiv indicates that the company's shares are expected to rise by 31.19% from their latest reported closing price of $101.29, as per data from August 31, 2023. The one-year price forecasts for Aptiv's shares show a wide range, with the lowest estimate being $82.82 and the highest reaching up to $170.10. The average price target is set at $132.88.
Aptiv's projected annual revenue stands at $19,708 million dollars, marking a potential increase of 2.26%. The company's projected annual non-GAAP EPS is estimated to be 4.92.
The latest data reveals that there are 1,617 funds or institutions currently holding positions in Aptiv, reflecting a decrease of 5.66% from the last quarter. The average portfolio weight dedicated to APTV across all these funds is 0.35%, down by 8.29%. Over the past three months, the total number of shares owned by institutions has declined by 1.48%, now standing at approximately 295.67 million shares.
The current put/call ratio for APTV is recorded at 1.29, which suggests a bearish outlook among investors.
Several significant shareholders have adjusted their holdings in Aptiv over the last quarter. Vanguard Total Stock Market Index Fund Investor Shares increased its stake by 0.70% to hold about 8.45 million shares, accounting for nearly 3% of the company's ownership. Meanwhile, Massachusetts Financial Services increased its stake by 1.43%, now holding around 8.27 million shares.
Alliancebernstein, owning a 2.80% stake in the company, reduced its holdings by 3.70% to approximately 7.92 million shares. Vanguard 500 Index Fund Investor Shares and Vanguard Mid-Cap Index Fund Investor Shares adjusted their holdings by 1.83% and decreased by 0.93% respectively, holding about 6.44 million and 6.27 million shares.
Despite these increases, all five firms mentioned have decreased their portfolio allocation in APTV over the last quarter.
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