Adient plc (NYSE:ADNT) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its stake in Adient plc (NYSE:ADNT) by 44.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 28,760 shares of the company’s stock after acquiring an additional 8,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in Adient were worth $649,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. D. E. Shaw & Co. Inc. grew its position in Adient by 86.3% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,133,901 shares of the company’s stock valued at $28,019,000 after acquiring an additional 525,280 shares in the last quarter. HITE Hedge Asset Management LLC increased its stake in Adient by 125.3% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 512,703 shares of the company’s stock worth $12,669,000 after buying an additional 285,104 shares during the period. Vanguard Group Inc. increased its stake in Adient by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 2,732,345 shares of the company’s stock worth $99,348,000 after buying an additional 246,038 shares during the period. Janus Henderson Group PLC lifted its holdings in Adient by 48.5% during the 1st quarter. Janus Henderson Group PLC now owns 697,303 shares of the company’s stock worth $22,955,000 after buying an additional 227,810 shares in the last quarter. Finally, Pzena Investment Management LLC boosted its position in Adient by 8.9% in the 1st quarter. Pzena Investment Management LLC now owns 1,978,961 shares of the company’s stock valued at $65,147,000 after buying an additional 161,579 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Adient Stock Up 1.7 %

ADNT opened at $22.25 on Monday. Adient plc has a one year low of $19.40 and a one year high of $37.19. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.87 and a current ratio of 1.08. The stock has a market capitalization of $2.00 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 0.35 and a beta of 2.16. The business’s 50-day simple moving average is $21.81 and its 200-day simple moving average is $25.52.

Adient (NYSE:ADNT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Adient had a net margin of 0.50% and a return on equity of 6.34%. Adient’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. Analysts anticipate that Adient plc will post 1.76 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Barclays cut their price objective on Adient from $29.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. BNP Paribas upgraded Adient from an “underperform” rating to a “neutral” rating and set a $26.00 price objective for the company in a research note on Monday, July 1st. Bank of America reduced their target price on shares of Adient from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $24.00 price objective on shares of Adient in a research report on Tuesday, September 10th. Finally, Morgan Stanley lowered their target price on shares of Adient from $32.00 to $21.00 and set an “underweight” rating for the company in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Adient presently has an average rating of “Hold” and a consensus target price of $26.63.

Adient Profile

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.