State Street Corp Raises Stake in Adient plc (NYSE:ADNT)

State Street Corp lifted its position in shares of Adient plc (NYSE:ADNT) by 4.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,443,471 shares of the company’s stock after buying an additional 158,017 shares during the period. State Street Corp owned 3.95% of Adient worth $77,719,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC grew its holdings in Adient by 9.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,197,090 shares of the company’s stock valued at $117,298,000 after buying an additional 442,200 shares during the period. Pacer Advisors Inc. grew its holdings in Adient by 38,074.9% in the third quarter. Pacer Advisors Inc. now owns 5,144,445 shares of the company’s stock valued at $116,110,000 after purchasing an additional 5,130,969 shares during the period. Dimensional Fund Advisors LP increased its position in Adient by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 5,078,070 shares of the company’s stock worth $125,480,000 after purchasing an additional 61,342 shares during the last quarter. Pzena Investment Management LLC raised its stake in Adient by 45.0% during the third quarter. Pzena Investment Management LLC now owns 2,825,491 shares of the company’s stock worth $63,771,000 after purchasing an additional 877,142 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Adient by 1.1% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,616,457 shares of the company’s stock valued at $39,943,000 after purchasing an additional 17,833 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ADNT. Wolfe Research assumed coverage on Adient in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Morgan Stanley cut their price objective on Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Thursday, November 14th. Bank of America cut Adient from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $30.00 to $24.00 in a report on Thursday, November 21st. StockNews.com upgraded shares of Adient from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $24.00 price target on shares of Adient in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $23.50.

Insiders Place Their Bets

In related news, EVP James Conklin sold 11,500 shares of Adient stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $20.25, for a total value of $232,875.00. Following the completion of the sale, the executive vice president now owns 51,829 shares in the company, valued at approximately $1,049,537.25. The trade was a 18.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is owned by company insiders.

Adient Trading Down 0.1 %

NYSE ADNT opened at $17.60 on Wednesday. The company’s fifty day simple moving average is $20.30 and its 200-day simple moving average is $22.47. The stock has a market cap of $1.49 billion, a P/E ratio of 75.83, a PEG ratio of 0.32 and a beta of 2.15. Adient plc has a 52 week low of $17.20 and a 52 week high of $37.19. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.98.

Adient (NYSE:ADNT) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. Adient had a net margin of 0.12% and a return on equity of 6.86%. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the company posted $0.51 EPS. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. Equities research analysts predict that Adient plc will post 2.04 EPS for the current fiscal year.

Adient Company 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.