Federated Hermes Inc. Raises Holdings in Adient (NYSE:ADNT)

Key Points

• Federated Hermes Inc. significantly increased its stake in Adient by 68,173.6%, acquiring over 523,000 additional shares, bringing their total ownership to approximately 0.62% of the company, valued at $6.74 million.
• Multiple hedge funds adjusted their positions in Adient, with Covestor Ltd and Mariner LLC both increasing their holdings in the past quarter, indicating strong institutional interest as 92.44% of the company's stock is owned by institutional investors.
• Adient recently reported earnings of $0.69 per share, exceeding analyst expectations, but observed a 3.7% year-over-year decline in revenue, signaling mixed performance amid varied analyst ratings.

Federated Hermes Inc. increased its position in Adient (NYSE:ADNT - Free Report) by 68,173.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 524,341 shares of the company's stock after acquiring an additional 523,573 shares during the quarter. Federated Hermes Inc. owned about 0.62% of Adient worth $6,743,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new position in shares of Adient in the fourth quarter valued at $25,000. GAMMA Investing LLC lifted its position in Adient by 157.5% in the first quarter. GAMMA Investing LLC now owns 2,235 shares of the company's stock worth $29,000 after buying an additional 1,367 shares during the last quarter. Sterling Capital Management LLC lifted its position in Adient by 803.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,738 shares of the company's stock worth $47,000 after buying an additional 2,435 shares during the last quarter. Oarsman Capital Inc. lifted its position in Adient by 98.7% in the fourth quarter. Oarsman Capital Inc. now owns 2,966 shares of the company's stock worth $51,000 after buying an additional 1,473 shares during the last quarter. Finally, CWM LLC lifted its position in Adient by 91.4% in the first quarter. CWM LLC now owns 3,426 shares of the company's stock worth $44,000 after buying an additional 1,636 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ADNT shares. Wells Fargo & Company raised their price target on Adient from $17.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Morgan Stanley decreased their target price on Adient from $17.00 to $16.00 and set an "underweight" rating for the company in a research report on Monday, May 19th. UBS Group lifted their target price on Adient from $15.00 to $25.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Citigroup assumed coverage on Adient in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $14.00 target price for the company. Finally, Wall Street Zen upgraded Adient from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $20.06.

Adient Stock Up 1.7%

Shares of Adient stock traded up $0.38 during trading on Wednesday, hitting $22.49. 1,017,651 shares of the stock traded hands, compared to its average volume of 1,452,176. The firm has a market cap of $1.89 billion, a P/E ratio of -7.05, a price-to-earnings-growth ratio of 0.77 and a beta of 1.72. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22. Adient has a 52-week low of $10.04 and a 52-week high of $24.25. The stock's fifty day simple moving average is $20.09 and its 200 day simple moving average is $16.47.

Adient (NYSE:ADNT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02). Adient had a negative net margin of 1.86% and a positive return on equity of 7.70%. During the same period in the previous year, the business posted $0.32 earnings per share. The firm's revenue was up .7% compared to the same quarter last year. On average, equities analysts predict that Adient will post 1.76 earnings per share for the current fiscal year.

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.