Covestor Ltd Grows Position in Adient plc (NYSE:ADNT)

Covestor Ltd lifted its stake in Adient plc (NYSE:ADNT) by 201.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,307 shares of the company’s stock after buying an additional 2,210 shares during the quarter. Covestor Ltd’s holdings in Adient were worth $109,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ADNT. Acadian Asset Management LLC raised its stake in Adient by 221.5% during the first quarter. Acadian Asset Management LLC now owns 12,914 shares of the company’s stock valued at $425,000 after purchasing an additional 8,897 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Adient by 33.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 11,799 shares of the company’s stock valued at $377,000 after purchasing an additional 2,956 shares in the last quarter. SageView Advisory Group LLC raised its stake in Adient by 11.5% during the first quarter. SageView Advisory Group LLC now owns 40,673 shares of the company’s stock valued at $1,339,000 after purchasing an additional 4,195 shares in the last quarter. Foundry Partners LLC raised its stake in Adient by 11.8% during the first quarter. Foundry Partners LLC now owns 119,918 shares of the company’s stock valued at $3,948,000 after purchasing an additional 12,676 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in Adient by 17.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 32,122 shares of the company’s stock valued at $1,057,000 after purchasing an additional 4,830 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ADNT shares. BNP Paribas raised shares of Adient from an “underperform” rating to a “neutral” rating and set a $26.00 price target on the stock in a research note on Monday, July 1st. Bank of America decreased their price target on shares of Adient from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Monday. UBS Group decreased their price target on shares of Adient from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Barclays decreased their price target on shares of Adient from $34.00 to $29.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Adient from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $34.33.

Insider Buying and Selling

In other news, Director Peter Carlin sold 4,207 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $28.90, for a total transaction of $121,582.30. Following the sale, the director now owns 28,352 shares of the company’s stock, valued at approximately $819,372.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.

Adient Stock Performance

NYSE:ADNT traded up $0.19 during midday trading on Tuesday, hitting $25.32. The company’s stock had a trading volume of 398,779 shares, compared to its average volume of 1,046,398. Adient plc has a fifty-two week low of $22.93 and a fifty-two week high of $46.51. The firm’s 50 day moving average is $26.25 and its 200-day moving average is $30.32. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.13 and a quick ratio of 0.91. The firm has a market cap of $2.27 billion, a P/E ratio of 15.57, a P/E/G ratio of 0.32 and a beta of 2.19.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Friday, May 3rd. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.15. Adient had a net margin of 1.04% and a return on equity of 8.72%. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter in the prior year, the company earned $0.32 EPS. Adient’s quarterly revenue was down 4.1% on a year-over-year basis. Equities analysts anticipate that Adient plc will post 2.26 earnings per share 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.