AQR Capital Management LLC Buys 61,665 Shares of Adient plc (NYSE:ADNT)

AQR Capital Management LLC boosted its stake in Adient plc (NYSE:ADNT) by 10.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 625,500 shares of the company’s stock after purchasing an additional 61,665 shares during the quarter. AQR Capital Management LLC owned about 0.70% of Adient worth $15,419,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ADNT. ProShare Advisors LLC grew its position in shares of Adient by 2.0% during the 1st quarter. ProShare Advisors LLC now owns 20,885 shares of the company’s stock worth $688,000 after buying an additional 417 shares during the period. CWM LLC lifted its holdings in Adient by 44.5% during the second quarter. CWM LLC now owns 1,439 shares of the company’s stock worth $36,000 after acquiring an additional 443 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in Adient by 6.4% in the first quarter. Verdence Capital Advisors LLC now owns 8,342 shares of the company’s stock valued at $275,000 after acquiring an additional 501 shares during the period. SummerHaven Investment Management LLC increased its holdings in shares of Adient by 3.2% in the second quarter. SummerHaven Investment Management LLC now owns 18,167 shares of the company’s stock worth $449,000 after acquiring an additional 556 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Adient by 1.3% during the first quarter. Sei Investments Co. now owns 51,206 shares of the company’s stock worth $1,686,000 after purchasing an additional 643 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wolfe Research assumed coverage on Adient in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. lowered their price objective on shares of Adient from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Bank of America cut their price objective on shares of Adient from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $24.00 target price on shares of Adient in a report on Tuesday, September 10th. Finally, Barclays cut their price target on Adient from $29.00 to $24.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Adient presently has an average rating of “Hold” and an average target price of $26.63.

Adient Trading Down 1.0 %

Adient stock opened at $22.34 on Wednesday. The stock has a 50-day simple moving average of $22.38 and a 200 day simple moving average of $26.16. The stock has a market capitalization of $2.01 billion, a P/E ratio of 13.71, a PEG ratio of 0.59 and a beta of 2.16. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.87 and a current ratio of 1.08. Adient plc has a 52 week low of $19.40 and a 52 week high of $37.19.

Adient (NYSE:ADNT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.82 billion. Adient had a return on equity of 6.34% and a net margin of 0.50%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period last year, the firm earned $0.98 earnings per share. Analysts expect that Adient plc will post 1.77 earnings per share for the current year.

About Adient

Adient plc engages in the design, development, manufacture, and market of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's automotive seating solutions include complete seating systems, frames, mechanisms, foams, head restraints, armrests, and trim covers.