Adient $ADNT Shares Bought by Healthcare of Ontario Pension Plan Trust Fund

Key Points

• Healthcare of Ontario Pension Plan Trust Fund increased its Adient stake by 179.3% in the first quarter, acquiring 338,517 additional shares and bringing its ownership to 0.67%. Institutional investors collectively own 92.44% of the company.
• Adient reported quarterly EPS of $0.52, exceeding estimates of $0.44, while revenue rose 7% year over year to $3.87 billion. The stock opened at $21.57, up 4.1%.
• Analyst sentiment remains mixed, with five Buy, six Hold and one Sell rating; the consensus rating is Hold, with an average price target of $28.11.

Healthcare of Ontario Pension Plan Trust Fund grew its position in Adient (NYSE:ADNT - Free Report) by 179.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 527,356 shares of the company's stock after buying an additional 338,517 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.67% of Adient worth $10,658,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Leonteq Securities AG acquired a new position in Adient in the fourth quarter valued at approximately $30,000. Quarry LP increased its stake in Adient by 163.9% during the third quarter. Quarry LP now owns 2,304 shares of the company's stock worth $55,000 after acquiring an additional 1,431 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Adient in the second quarter valued at $63,000. Los Angeles Capital Management LLC purchased a new stake in Adient in the fourth quarter valued at $64,000. Finally, Parallel Advisors LLC raised its position in Adient by 19.4% in the first quarter. Parallel Advisors LLC now owns 3,186 shares of the company's stock valued at $64,000 after purchasing an additional 517 shares during the period. Institutional investors and hedge funds own 92.44% of the company's stock.

Adient Trading Up 4.1%

ADNT opened at $21.57 on Wednesday. Adient has a 52 week low of $17.68 and a 52 week high of $27.32. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 1.18. The business has a fifty day simple moving average of $20.82 and a 200-day simple moving average of $21.61. The firm has a market cap of $1.69 billion, a P/E ratio of 30.38, a P/E/G ratio of 0.40 and a beta of 1.53.

Adient (NYSE:ADNT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.08. Adient had a return on equity of 7.28% and a net margin of 0.39%.The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter in the previous year, the business earned $0.69 EPS. The company's quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities analysts expect that Adient will post 2.13 earnings per share for the current year.

Insiders Place Their Bets

In other Adient news, EVP Heather M. Tiltmann sold 22,000 shares of Adient stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $22.71, for a total value of $499,620.00. Following the completion of the transaction, the executive vice president directly owned 110,886 shares of the company's stock, valued at $2,518,221.06. The trade was a 16.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.94% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ADNT. JPMorgan Chase & Co. lowered their price target on Adient from $28.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, April 23rd. Wells Fargo & Company boosted their price objective on shares of Adient from $28.00 to $32.00 and gave the company an "overweight" rating in a report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Adient from $31.00 to $29.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. UBS Group increased their target price on shares of Adient from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. Finally, Citigroup raised shares of Adient from a "neutral" rating to a "buy" rating and boosted their price target for the company from $30.00 to $33.00 in a research note on Wednesday, April 15th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $28.11.

About Adient

Adient plc NYSE: ADNT is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient's product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.

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