BlackRock Inc. lessened its position in shares of Adient plc (NYSE:ADNT – Get Rating) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,801,774 shares of the company’s stock after selling 37,920 shares during the period. BlackRock Inc. owned approximately 11.39% of Adient worth $299,749,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Clear Street Markets LLC bought a new stake in Adient during the 3rd quarter worth approximately $28,000. Castleview Partners LLC purchased a new position in Adient in the 2nd quarter worth approximately $85,000. US Bancorp DE grew its stake in Adient by 16.7% in the 3rd quarter. US Bancorp DE now owns 4,225 shares of the company’s stock worth $117,000 after buying an additional 604 shares in the last quarter. Ellevest Inc. grew its stake in Adient by 244.0% in the 3rd quarter. Ellevest Inc. now owns 4,310 shares of the company’s stock worth $120,000 after buying an additional 3,057 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Adient in the 1st quarter worth approximately $214,000. Institutional investors own 93.20% of the company’s stock.
Adient Trading Down 4.6 %
NYSE:ADNT opened at $40.63 on Friday. The company has a fifty day moving average of $42.55 and a 200 day moving average of $37.09. Adient plc has a 52 week low of $27.15 and a 52 week high of $47.50. The company has a quick ratio of 0.91, a current ratio of 1.20 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $3.88 billion, a P/E ratio of -71.28 and a beta of 2.77.
Adient (NYSE:ADNT – Get Rating) last posted its quarterly earnings results on Tuesday, February 7th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). Adient had a negative net margin of 0.38% and a positive return on equity of 3.21%. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the prior year, the company earned ($0.38) earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, research analysts predict that Adient plc will post 1.98 earnings per share for the current year.
Insider Activity at Adient
In other Adient news, CEO Douglas G. Delgrosso sold 50,000 shares of the company’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $40.33, for a total value of $2,016,500.00. Following the completion of the transaction, the chief executive officer now directly owns 617,757 shares in the company, valued at approximately $24,914,139.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 50,300 shares of company stock worth $2,030,108 in the last three months. 1.10% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of research firms have commented on ADNT. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Adient from $40.00 to $43.00 in a research note on Wednesday, February 8th. Morgan Stanley boosted their price target on shares of Adient from $29.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, February 9th. Bank of America raised shares of Adient from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $41.00 to $52.00 in a research note on Monday, January 9th. Benchmark upped their price objective on shares of Adient from $48.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. Finally, Wolfe Research cut shares of Adient from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $46.11.
About Adient
Adient plc manufactures automotive seating systems. It operates through the following geographical segments: Americas, EMEA, and Asia. The company was founded in 1985 and is headquartered in Plymouth, MI.
Further Reading
Want to see what other hedge funds are holding ADNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adient plc (NYSE:ADNT – Get Rating).
Receive News & Ratings for Adient Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Adient and related companies with MarketBeat.com’s FREE daily email newsletter.