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APTV · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Aptiv PLC (APTV) stock moving?
APTV has fallen about 10.5% from $44.23 on Nov 2 to $39.57 on Nov 10, after its Q3 report on Nov 3. Q3 revenue rose 2% to $3.2B, but adjusted EBITDA fell to $567M from $598M, the margin slipped to 17.7% from 19.1%, and adjusted EPS was $1.42 versus $1.48 a year earlier. Management guided Q4 adjusted EBITDA to $582M-$642M at a 19.4% margin and FY26 sales to $12.65B-$12.75B, in line with the FactSet estimate of $12.7B. Cash generation and capital return are supportive: Q3 free cash flow was $194M, FY26 free cash flow is guided to $625M-$675M, and the company repurchased 4.7M shares for $233M with $1.6B of authorization left. Against this, the $56M non-cash intangible impairment and EMEA sales down 5% weigh on sentiment. Analysts mostly kept Buy or Outperform ratings but cut price targets across the board, with a range of $44 (HSBC, downgraded to Hold) to $72 (TD Cowen). Volume spiked to 6.8M shares on Nov 3 against roughly 2.2M-3.9M in the prior weeks, and the stock closed at its lows on Nov 10 at $39.57, below its pre-earnings range. Selling has eased since the earnings day, but the price has not yet recovered.
News behind the analysis
- Evercore ISI Adjusts Price Target on Aptiv to $60 From $70Evercore ISI cut its Aptiv price target from $70 to $60 after the third-quarter results.
- HSBC Downgrades Aptiv to HoldHSBC downgraded Aptiv from buy to hold and lowered its price target to $44.
- Citigroup Maintains Buy on Aptiv, Lowers Price Target to $68Citigroup kept its Buy rating on Aptiv but reduced its price target to $68.
- Aptiv Reports Third Quarter 2026 Financial Results and Updates Full-Year GuidanceAptiv reported Q3 sales of $3.2B and adjusted EPS of $1.42, and guided FY26 sales to $12.65B-$12.75B versus a FactSet estimate of $12.7B.
- Aptiv Sees Q4 Adj. EBITDA $582M-$642M, Margin 19.4%Aptiv guided fourth-quarter adjusted EBITDA to $582M-$642M at a 19.4% margin, after Q3 adjusted EBITDA of $567M versus $598M a year earlier.
- Aptiv Sees FY26 Free Cash Flow $625M-$675M; Operating Cash Flow $1.154B-$1.204BAptiv expects full-year 2026 free cash flow of $625M-$675M and operating cash flow of $1.154B-$1.204B.
- Aptiv Repurchased 4.7M Shares For $233M In Q3; $1.6B Remaining AuthorisationAptiv bought back 4.7 million shares for $233M in Q3 and has $1.6B left under its authorization.
- Morgan Stanley Maintains Equal-Weight on Aptiv, Lowers Price Target to $45Morgan Stanley kept its Equal-Weight rating and cut its price target to $45.
- TD Cowen Maintains Buy on Aptiv, Lowers Price Target to $72TD Cowen kept its Buy rating on Aptiv and lowered its price target to $72.
- Barclays Maintains Overweight on Aptiv, Lowers Price Target to $53Barclays kept its Overweight rating and cut its price target from $60 to $53.
About Aptiv PLC
Aptiv is a Switzerland-headquartered industrial technology supplier that makes connectors, sensors, computing hardware and software, mainly for vehicles but more and more for aerospace, defense, telecom and data-center customers. On April 1, 2026, it spun off its large wire-harness business (Electrical Distribution Systems) as Versigent (VGNT), leaving a smaller company built around higher-tech components and systems.
How it makes money
Since the spin-off, Aptiv sells through two segments. Engineered Components (connectors, cable assemblies and related parts) brought in about $1.8B of Q3 2026's roughly $3.2B revenue, around 55%. Intelligent Systems (ADAS sensors and compute, plus software and services, including Wind River) brought in about $1.4B, around 45%. Most revenue still comes from carmakers. Non-automotive sales are expected to top about $3B in 2026, roughly a quarter of the total.
What usually moves APTV
- Global light-vehicle production, especially in Europe, North America and China
- Adoption of ADAS and software-defined vehicles
- Growth in non-auto markets like aerospace, defense, data centers and robotics
- Input costs such as memory chips, copper and tariffs
- New business bookings and share buybacks