Ballentine Partners LLC Acquires New Position in Adient $ADNT

Key Points

• Ballentine Partners LLC acquired a new stake in Adient, purchasing 11,526 shares valued at approximately $224,000 during the second quarter, signaling increased institutional interest.
• Adient's stock experienced a decline, down 1.5%, with a current price of $24.26 and a market capitalization of $1.97 billion.
• Following its recent earnings report, Adient missed analysts' EPS estimates, posting $0.45 versus the expected $0.47, despite a slight revenue increase compared to the previous year.

Ballentine Partners LLC acquired a new stake in shares of Adient (NYSE:ADNT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,526 shares of the company's stock, valued at approximately $224,000.

A number of other institutional investors have also modified their holdings of ADNT. Brooklyn Investment Group grew its position in shares of Adient by 23,600.0% during the 1st quarter. Brooklyn Investment Group now owns 2,133 shares of the company's stock valued at $27,000 after buying an additional 2,124 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Adient by 157.5% in the 1st quarter. GAMMA Investing LLC now owns 2,235 shares of the company's stock worth $29,000 after acquiring an additional 1,367 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Adient by 991.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 2,182 shares of the company's stock worth $42,000 after acquiring an additional 1,982 shares during the period. Fifth Third Bancorp lifted its stake in shares of Adient by 544.4% in the 2nd quarter. Fifth Third Bancorp now owns 2,133 shares of the company's stock worth $42,000 after acquiring an additional 1,802 shares during the period. Finally, CWM LLC lifted 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 worth $44,000 after acquiring an additional 1,636 shares during the period. Institutional investors own 92.44% of the company's stock.

Adient Stock Down 1.5%

ADNT stock opened at $24.26 on Tuesday. Adient has a 52-week low of $10.04 and a 52-week high of $25.84. The company's 50 day simple moving average is $23.68 and its 200-day simple moving average is $18.56. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.12 and a quick ratio of 0.92. The firm has a market capitalization of $1.97 billion, a P/E ratio of -9.15, a P/E/G ratio of 0.94 and a beta of 1.76.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ADNT. Zacks Research lowered shares of Adient from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Morgan Stanley increased their target price on shares of Adient from $16.00 to $17.00 and gave the company an "underweight" rating in a research note on Tuesday, August 12th. Wall Street Zen raised shares of Adient from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. UBS Group increased their target price on shares of Adient from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Finally, Bank of America increased their target price on shares of Adient from $17.50 to $20.00 and gave the company an "underperform" rating in a research note on Wednesday, September 10th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $22.63.

About Adient

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.

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