Engineers Gate Manager LP Has $1.89 Million Position in Adient $ADNT

Engineers Gate Manager LP cut its position in Adient (NYSE:ADNT) by 55.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 102,755 shares of the company’s stock after selling 129,283 shares during the period. Engineers Gate Manager LP’s holdings in Adient were worth $1,889,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ADNT. SG Americas Securities LLC grew its holdings in shares of Adient by 117.8% during the first quarter. SG Americas Securities LLC now owns 913,585 shares of the company’s stock worth $18,464,000 after purchasing an additional 494,054 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Adient by 179.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 527,356 shares of the company’s stock valued at $10,658,000 after buying an additional 338,517 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Adient by 17.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,293,353 shares of the company’s stock valued at $46,349,000 after buying an additional 336,306 shares during the last quarter. Bank of America Corp DE boosted its position in Adient by 61.7% during the 1st quarter. Bank of America Corp DE now owns 792,543 shares of the company’s stock worth $16,017,000 after buying an additional 302,538 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Adient by 5.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,384,904 shares of the company’s stock worth $88,614,000 after buying an additional 211,843 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

Adient Price Performance

Shares of NYSE ADNT opened at $18.36 on Wednesday. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 0.38 and a beta of 1.52. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.91 and a current ratio of 1.10. Adient has a fifty-two week low of $17.68 and a fifty-two week high of $27.32. The firm’s 50-day simple moving average is $19.68 and its 200 day simple moving average is $20.64.

Adient (NYSE:ADNT) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). The company had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.71 billion. Adient had a return on equity of 7.32% and a net margin of 0.32%.The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 earnings per share. As a group, research analysts anticipate that Adient will post 2.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ADNT has been the subject of several recent research reports. Barclays decreased their price target on shares of Adient from $29.00 to $25.00 and set an “equal weight” rating for the company in a research report on Monday, August 10th. Citigroup decreased their price objective on Adient from $33.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Weiss Ratings downgraded Adient from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 21st. Wells Fargo & Company increased their price objective on shares of Adient from $28.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $28.00 target price on shares of Adient in a report on Thursday, August 6th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Adient has a consensus rating of “Hold” and a consensus target price of $26.30.

Insider Activity

In related news, Director Peter Carlin sold 7,843 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $19.25, for a total transaction of $150,977.75. Following the completion of the sale, the director owned 38,835 shares in the company, valued at approximately $747,573.75. This represents a 16.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.94% of the stock is currently owned by insiders.

Adient Company Profile

Adient plc (NYSE: ADNT) is a global automotive supplier that designs, engineers and manufactures automotive seating systems and related components. Its products include complete vehicle seats, seat structures, mechanisms, foam products, trim and other components used in passenger vehicles and commercial vehicles.

The company supplies automakers and supports vehicle programs across major automotive markets, including North America, Europe and Asia. Its operations include product development, engineering, manufacturing and assembly, enabling Adient to provide integrated seating solutions for a range of vehicle platforms and interior designs.

Adient became an independent public company in 2016 after being separated from Johnson Controls’ automotive seating business.