Adient plc (NYSE:ADNT) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its stake in Adient plc (NYSE:ADNT) by 30.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,552 shares of the company’s stock after buying an additional 20,745 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.10% of Adient worth $2,021,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Covestor Ltd lifted its holdings in shares of Adient by 23.2% in the 3rd quarter. Covestor Ltd now owns 5,482 shares of the company’s stock worth $124,000 after acquiring an additional 1,032 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Adient by 36.5% during the third quarter. Principal Financial Group Inc. now owns 411,199 shares of the company’s stock worth $9,281,000 after purchasing an additional 109,850 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Adient by 147.1% during the third quarter. Harbor Capital Advisors Inc. now owns 205,858 shares of the company’s stock worth $4,646,000 after buying an additional 122,565 shares during the period. Greenwich Wealth Management LLC grew its stake in shares of Adient by 10.0% in the third quarter. Greenwich Wealth Management LLC now owns 25,506 shares of the company’s stock valued at $576,000 after buying an additional 2,315 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of Adient by 583.8% in the 3rd quarter. US Bancorp DE now owns 1,860 shares of the company’s stock valued at $42,000 after buying an additional 1,588 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Wolfe Research began coverage on shares of Adient in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Bank of America decreased their price target on shares of Adient from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, October 14th. StockNews.com raised Adient from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $24.00 target price on shares of Adient in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. cut their price target on Adient from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $25.13.

Adient Trading Down 2.5 %

Shares of Adient stock opened at $19.89 on Friday. Adient plc has a 12-month low of $19.30 and a 12-month high of $37.19. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 86.48, a PEG ratio of 0.44 and a beta of 2.18. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.98. The company has a fifty day simple moving average of $21.32 and a 200-day simple moving average of $23.84.

Adient (NYSE:ADNT) last released its quarterly earnings results on Friday, November 8th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.56 by $0.12. Adient had a return on equity of 6.86% and a net margin of 0.12%. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. The firm’s revenue was down 3.7% compared to the same quarter last year. On average, equities analysts forecast that Adient plc will post 2.51 EPS for the current fiscal year.

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.