5 Best Auto Stocks To Buy Now

3. Aptiv PLC (NYSE:APTV)

Number of Hedge Fund Holders: 43

Aptiv PLC (NYSE:APTV) is an Ireland-based company that manufactures and sells electrical, electronic, and safety technology solutions to the automotive and commercial vehicle markets worldwide. On November 3, the company reported its Q3 results, posting a non-GAAP EPS of $1.28 and a revenue of $4.61 billion, topping market estimates by $0.28 and $310 million, respectively. The company expects FY2022 adjusted EPS to be $3.30, versus a consensus of $3.21.

On November 4, Raymond James analyst Brian Gesuale maintained an Outperform rating on Aptiv PLC (NYSE:APTV) but lowered the firm’s price target on the shares to $125 from $145. Aptiv PLC (NYSE:APTV)’s Q3 results were solid, and management reiterated its outlook for 13% top-line growth and 12% AEBITDA growth for the full year, the analyst told investors in a research note. 

According to Insider Monkey’s data, 43 hedge funds were long Aptiv PLC (NYSE:APTV) at the end of June 2022, compared to 48 funds in the last quarter. Ian Simm’s Impax Asset Management is the largest stakeholder of the company, with 4.7 million shares worth $417 million. 

Here is what ClearBridge Investments Sustainability Leaders Strategy has to say about Aptiv PLC (NYSE:APTV) in its Q1 2022 investor letter:

“The acceleration in electrification of transport should support electric vehicle (EV)-related stocks like Aptiv (NYSE:APTV), which came under pressure in the quarter on concerns the auto cycle is past its peak. Aptiv provides a range of solutions for the auto industry, including autonomous driving technologies, safety technologies, components, and wiring. The large exposure of APTV to EVs should lead to long-term value as EVs continue their growth, boosted by their relative attractiveness as prices at the pump hit near-historic highs.”