Vanguard Group Inc. Boosts Holdings in Adient PLC (NYSE:ADNT)

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Vanguard Group Inc. lifted its stake in Adient PLC (NYSE:ADNT) by 35.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,510,946 shares of the company’s stock after purchasing an additional 652,917 shares during the period. Vanguard Group Inc. owned 2.68% of Adient worth $60,942,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ADNT. Trexquant Investment LP lifted its position in Adient by 11.3% during the 1st quarter. Trexquant Investment LP now owns 95,836 shares of the company’s stock valued at $1,242,000 after acquiring an additional 9,706 shares during the period. Marshall Wace LLP purchased a new position in Adient in the first quarter worth about $1,273,000. Marshall Wace North America L.P. purchased a new position in Adient in the first quarter worth about $179,000. Redwood Investment Management LLC raised its holdings in Adient by 59.5% in the first quarter. Redwood Investment Management LLC now owns 76,238 shares of the company’s stock worth $988,000 after buying an additional 28,432 shares during the last quarter. Finally, FMR LLC raised its holdings in Adient by 21.9% in the first quarter. FMR LLC now owns 1,008,304 shares of the company’s stock worth $13,067,000 after buying an additional 181,235 shares during the last quarter. 97.90% of the stock is owned by hedge funds and other institutional investors.

Shares of ADNT stock opened at $23.01 on Friday. The company has a 50 day moving average price of $22.14 and a 200-day moving average price of $21.26. Adient PLC has a 52 week low of $12.15 and a 52 week high of $33.30. The firm has a market capitalization of $2.15 billion, a PE ratio of 4.09 and a beta of 3.25. The company has a quick ratio of 0.88, a current ratio of 1.07 and a debt-to-equity ratio of 1.65.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.07. Adient had a negative net margin of 11.00% and a positive return on equity of 8.35%. The firm had revenue of $4.22 billion during the quarter, compared to analyst estimates of $4.11 billion. During the same period in the previous year, the business posted $1.45 earnings per share. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. Analysts anticipate that Adient PLC will post 1.27 earnings per share for the current year.

Several research analysts have issued reports on ADNT shares. Morgan Stanley lifted their target price on shares of Adient from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. Credit Suisse Group started coverage on shares of Adient in a report on Wednesday, June 26th. They issued a “neutral” rating and a $24.00 target price for the company. ValuEngine raised shares of Adient from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Barclays decreased their target price on shares of Adient from $29.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Finally, Bank of America cut shares of Adient from a “buy” rating to a “neutral” rating and set a $28.00 target price for the company. in a report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Adient has a consensus rating of “Hold” and an average price target of $22.27.

Adient Profile

Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. It operates through three segments: Seating, Seat Structures and Mechanisms (SS&M), and Interiors. The Seating segment produces seat systems for automotive and other mobility applications, as well as various components of seat systems, including foams, trims, and fabrics.

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Institutional Ownership by Quarter for Adient (NYSE:ADNT)

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