Insider Selling: Adient (NYSE:ADNT) Director Sells $150,977.75 in Stock

Adient (NYSE:ADNT) Director Peter Carlin sold 7,843 shares of Adient stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $19.25, for a total value of $150,977.75. Following the completion of the transaction, the director directly owned 38,835 shares of the company’s stock, valued at approximately $747,573.75. This trade represents a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Adient Stock Down 0.2%

Shares of Adient stock opened at $19.97 on Monday. Adient has a one year low of $17.68 and a one year high of $27.32. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.10 and a quick ratio of 0.91. The stock’s 50-day moving average is $19.65 and its 200 day moving average is $20.95. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 0.40 and a beta of 1.52.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Corient Private Wealth LP increased its position in shares of Adient by 5.7% during the second quarter. Corient Private Wealth LP now owns 19,371 shares of the company’s stock worth $356,000 after acquiring an additional 1,038 shares in the last quarter. California State Teachers Retirement System lifted its position in Adient by 1,689.9% in the 2nd quarter. California State Teachers Retirement System now owns 1,699,029 shares of the company’s stock valued at $31,228,000 after acquiring an additional 1,604,107 shares in the last quarter. Readystate Asset Management LP acquired a new position in Adient during the 2nd quarter valued at about $1,078,000. Public Employees Retirement System of Ohio bought a new stake in Adient during the 2nd quarter worth approximately $94,000. Finally, Parallel Advisors LLC raised its stake in shares of Adient by 19.4% in the first quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock worth $64,000 after purchasing an additional 517 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADNT has been the subject of a number of research reports. Barclays reduced their price target on shares of Adient from $29.00 to $25.00 and set an “equal weight” rating for the company in a report on Monday, August 10th. UBS Group reduced their target price on Adient from $34.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Wall Street Zen lowered Adient from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. upped their price target on Adient from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Finally, Morgan Stanley cut their price target on Adient from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 18th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $26.60.

Adient Company Profile

Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.