5 EV Stocks to Invest In

3. Aptiv PLC (NYSE:APTV)

Number of Hedge Fund Holders: 43      

Aptiv PLC (NYSE:APTV) designs, manufactures, and sells vehicle components worldwide. These include electrical, electronic, and fiber optic connectors. These are used by the EV industry in the manufacturing of the vehicles. In earnings results for the second quarter, posted on August 4, the firm reported earnings per share of $0.22, missing market estimates by $0.38. The revenue over the period was $4.1 billion, beating analyst expectations by more than $200 million. 

On September 9, Bank of America analyst John Murphy maintained a Buy rating on Aptiv PLC (NYSE:APTV) stock and lowered the price target to $158 from $165, noting that the macro environment around auto firms had become riskier. 

At the end of the second quarter of 2022, 43 hedge funds in the database of Insider Monkey held stakes worth $1.62 billion in Aptiv PLC (NYSE:APTV), compared to 48 in the preceding quarter worth $1.65 billion.  

In its Q1 2022 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Aptiv PLC (NYSE:APTV) was one of them. Here is what the fund said:

“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.”