Nuveen LLC Takes Position in Adient $ADNT

Key Points

• Nuveen LLC acquired 273,828 shares of Adient, valued at approximately $3.52 million, increasing their stake in the company to 0.33% as reported in their SEC filing.
• Adient reported quarterly earnings of $0.45 per share, missing expectations by $0.02, but had revenue of $3.74 billion, exceeding analyst forecasts of $3.56 billion.
• Analysts have varied ratings on Adient, with a consensus rating of "Reduce" and an average price target of $21.72, while Stifel Nicolaus has issued a "buy" rating with a price target of $27.00.

Nuveen LLC bought a new position in shares of Adient (NYSE:ADNT - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 273,828 shares of the company's stock, valued at approximately $3,521,000. Nuveen LLC owned 0.33% of Adient as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Point72 Hong Kong Ltd acquired a new stake in shares of Adient during the fourth quarter worth $25,000. GAMMA Investing LLC increased its holdings in Adient by 157.5% during the 1st quarter. GAMMA Investing LLC now owns 2,235 shares of the company's stock worth $29,000 after purchasing an additional 1,367 shares in the last quarter. CWM LLC raised its stake in shares of Adient by 91.4% in the 1st quarter. CWM LLC now owns 3,426 shares of the company's stock valued at $44,000 after purchasing an additional 1,636 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Adient by 75.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,597 shares of the company's stock valued at $72,000 after purchasing an additional 2,415 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Adient by 15.2% during the first quarter. Covestor Ltd now owns 6,984 shares of the company's stock worth $90,000 after buying an additional 922 shares during the period. Institutional investors and hedge funds own 92.44% of the company's stock.

Wall Street Analyst Weigh In

ADNT has been the topic of a number of recent research reports. Barclays lifted their target price on Adient from $18.00 to $25.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Stifel Nicolaus began coverage on shares of Adient in a research note on Thursday, August 21st. They set a "buy" rating and a $27.00 price target for the company. Bank of America lifted their price objective on shares of Adient from $15.00 to $17.50 and gave the company an "underperform" rating in a report on Monday, June 16th. Morgan Stanley increased their target price on shares of Adient from $16.00 to $17.00 and gave the stock an "underweight" rating in a report on Tuesday, August 12th. Finally, Cfra Research raised shares of Adient from a "moderate sell" rating to a "hold" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $21.72.

Adient Stock Performance

NYSE:ADNT traded down $0.40 during mid-day trading on Tuesday, reaching $24.41. 53,444 shares of the company's stock were exchanged, compared to its average volume of 1,419,102. The business's fifty day simple moving average is $22.55 and its two-hundred day simple moving average is $17.34. Adient has a one year low of $10.04 and a one year high of $25.84. The firm has a market capitalization of $1.98 billion, a PE ratio of -9.21, a price-to-earnings-growth ratio of 0.82 and a beta of 1.76. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.92 and a current ratio of 1.12.

Adient (NYSE:ADNT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.02). The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.56 billion. Adient had a negative net margin of 1.53% and a positive return on equity of 8.25%. The firm's quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 earnings per share. Analysts anticipate that Adient will post 1.76 earnings per share 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.