Adient $ADNT Shares Purchased by Bank of America Corp DE

Key Points

• Bank of America increased its Adient stake by 61.7% in the first quarter, acquiring 302,538 additional shares and ending with a position worth approximately $16.0 million. Institutional investors and hedge funds collectively own 92.44% of the stock.
• Adient reported quarterly revenue of $3.93 billion, up 4.3% year over year and above estimates, but earnings per share of $0.48 missed expectations by $0.08. Analysts project full-year EPS of $2.02.
• Analyst sentiment remains mixed: the stock has an average “Hold” rating and a consensus price target of $26.60, while targets range from $25 to $32. Shares recently opened at $19.47, near the lower end of their 52-week range.

Bank of America Corp DE raised its position in shares of Adient (NYSE:ADNT - Free Report) by 61.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 792,543 shares of the company's stock after acquiring an additional 302,538 shares during the period. Bank of America Corp DE owned approximately 1.01% of Adient worth $16,017,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Adient by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 4,684,882 shares of the company's stock valued at $89,809,000 after buying an additional 208,938 shares during the period. Dimensional Fund Advisors LP grew its stake in Adient by 5.1% during the first quarter. Dimensional Fund Advisors LP now owns 4,384,904 shares of the company's stock worth $88,614,000 after buying an additional 211,843 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Adient by 17.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,293,353 shares of the company's stock worth $46,349,000 after acquiring an additional 336,306 shares in the last quarter. UBS Group AG increased its position in shares of Adient by 12.9% in the fourth quarter. UBS Group AG now owns 1,848,690 shares of the company's stock worth $35,439,000 after acquiring an additional 210,758 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Adient by 38.6% in the 4th quarter. Invesco Ltd. now owns 1,599,937 shares of the company's stock valued at $30,671,000 after acquiring an additional 445,343 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Adient Stock Performance

Shares of ADNT opened at $19.47 on Friday. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 0.40 and a beta of 1.52. 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's 50 day moving average is $20.05 and its two-hundred day moving average is $21.42. Adient has a 52-week low of $17.68 and a 52-week high of $27.32.

Adient (NYSE:ADNT - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.08). The company had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.71 billion. Adient had a return on equity of 7.32% and a net margin of 0.32%.The firm's quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 EPS. Analysts forecast that Adient will post 2.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Heather M. Tiltmann sold 22,000 shares of the business's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $22.71, for a total value of $499,620.00. Following the completion of the sale, the executive vice president owned 110,886 shares of the company's stock, valued at approximately $2,518,221.06. The trade was a 16.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.94% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ADNT. Barclays decreased their price target on shares of Adient from $29.00 to $25.00 and set an "equal weight" rating for the company in a research report on Monday, August 10th. Wells Fargo & Company increased their target price on Adient from $28.00 to $32.00 and gave the company an "overweight" rating in a research note on Thursday, June 25th. UBS Group reduced their price target on Adient from $34.00 to $29.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Zacks Research downgraded shares of Adient from a "hold" rating to a "strong sell" rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $28.00 target price on shares of Adient in a research report on Thursday, August 6th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $26.60.

Adient Profile

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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