5 Best Electric Car Stocks to Buy Now

3. Aptiv PLC (NYSE: APTV)

Number of Hedge Fund Holders: 50

Aptiv PLC (NYSE: APTV) is an American technology company mainly serving in the automotive sector. It develops and manufactures system-level solutions for electric vehicles. The company has over 124 manufacturing facilities and 12 major technical centers located worldwide. It stands third on our list of the best electric car stocks to buy now.

In Q1 2021, Aptiv PLC (NYSE: APTV) reported a net income of $301 million, up from $173 million during the same period last year. The EPS was recorded at $1.06, beating the consensus by $0.28. The consolidated revenue stood at $4.02 billion, presenting a 25% year-over-year growth. Recently, Deutsche Bank raised its price target on the APTV stock to $169, with a ‘Buy’ rating on the shares. Similarly, Jefferies also raised its price target on Aptiv PLC (NYSE: APTV) to $182. Since the beginning of the year, the stock has delivered a 28.8% return to shareholders, extending its 12-month gains to 109.3%.

As of Q1 2021, 50 hedge funds tracked by Insider Monkey have positions in Aptiv PLC (NYSE: APTV), up from 44 in the previous quarter. Intermede Investment Partners is the largest shareholder of the company, with shares worth over $95 million.

Oakmark Funds released its first-quarter 2021 investor letter and mentioned Aptiv PLC (NYSE: APTV) and other stocks in it. Here is what the firm has to say about APTV:

“Aptiv approached our estimates of intrinsic value and was, therefore, eliminated during the period. The company was longstanding investment of the Fund and produced successful outcomes. We continue to believe that Aptiv is a well-positioned auto supplier that is likely to continue outgrowing light vehicle production for the foreseeable future, but this dynamic is now more fully appreciated by the market.”