5 New Stock Picks of Bruce Kovner’s Caxton Associates

2. Aptiv PLC (NYSE:APTV)

Caxton Associates’ Stake Value: $154,833,000

Percentage of Caxton Associates’ 13F Portfolio: 12.59%

Number of Hedge Fund Holders: 48

Aptiv PLC (NYSE:APTV) is an Irish company that manufactures and sells vehicles. The company specializes in electronic and safety technology solutions to the commercial vehicle markets. Caxton Associates added Aptiv PLC (NYSE:APTV) to its Q1 portfolio by buying about 1.3 million shares worth $154.8 million, representing 12.59% of the total holdings. 

On July 14, Morgan Stanley analyst Adam Jonas reaffirmed an Overweight rating on Aptiv PLC (NYSE:APTV) and lowered the price target on the stock to $149 from $155. He is making “material cuts” to FY 23 estimates across his autos and shared mobility coverage to account for weak growth and credit headwinds, said the analyst. 

According to Insider Monkey’s data, 48 hedge funds were long Aptiv PLC (NYSE:APTV) at the end of March 2022, up from 44 funds in the preceding quarter. Ian Simm’s Impax Asset Management is the leading stakeholder of the company, with roughly 4.7 million shares worth $562.2 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.”