5 Best Automotive Stocks To Buy Now

In this article, we will be taking a look at 5 best automotive stocks to buy now. To read our detailed analysis of the automotive industry, you can go directly to see the 12 Best Automotive Stocks To Buy Now.

5. Aptiv PLC (NYSE:APTV)

Number of Hedge Fund Holders: 40

Aptiv PLC (NYSE:APTV) is an automotive parts and equipment company. It is based in Ireland.

Joseph Spak at UBS initiated coverage on Aptiv PLC (NYSE:APTV) shares with a Buy rating and a $143 price target on September 13.

Aptiv PLC (NYSE:APTV) had 40 hedge funds long its stock in the second quarter, with a total stake value of $1.8 billion.

Here’s what Artisan Partners said about Aptiv PLC (NYSE:APTV) in its second-quarter 2023 investor letter:

“Along with Catalent, we ended our investment campaigns in Aptiv PLC (NYSE:APTV) and Nasdaq during the quarter. Aptiv is a leading provider of safety, infotainment and electronic control components to the automotive market. Our view was that the company was well-positioned to benefit from several strong secular industry trends—the shift from internal combustion engines to electric vehicles, autonomous driving and increased computing intensity in vehicles. Over our holding period, a volatile macro environment (pandemic, supply chain shortages) steadily weighed on the profit cycle despite the company’s strong new business announcements. Furthermore, we believe the company may be increasingly disadvantaged as leading auto manufacturers work around tier-one suppliers (such as Aptiv) to maximize profits and speed to market. While the profit cycle may ultimately take hold, we concluded that several of our semiconductor holdings (ON Semiconductor, Lattice Semiconductor and Monolithic Power Systems) offer stronger leverage to these important new auto trends and decided to exit the position.”