Invesco Ltd. Has $20.77 Million Stake in Adient $ADNT

Key Points

• Invesco Ltd. has increased its stake in Adient by 14.2%, acquiring an additional 201,276 shares, bringing its total ownership to 1,615,317 shares valued at approximately $20.77 million.
• Adient reported $0.45 earnings per share for the last quarter, falling short of the consensus estimate of $0.47, despite a 7% increase in revenue year-over-year.
• Institutional investors own 92.44% of Adient's stock, with recent activity showing significant increases in stakes from multiple investment firms.

Invesco Ltd. raised its holdings in Adient (NYSE:ADNT - Free Report) by 14.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,615,317 shares of the company's stock after buying an additional 201,276 shares during the quarter. Invesco Ltd. owned 1.92% of Adient worth $20,773,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Covestor Ltd grew its holdings in Adient by 15.2% in the 1st quarter. Covestor Ltd now owns 6,984 shares of the company's stock valued at $90,000 after buying an additional 922 shares during the last quarter. Wolverine Asset Management LLC grew its holdings in shares of Adient by 4,965.0% during the 1st quarter. Wolverine Asset Management LLC now owns 112,291 shares of the company's stock worth $1,444,000 after purchasing an additional 110,074 shares in the last quarter. Ontario Teachers Pension Plan Board grew its holdings in shares of Adient by 68.5% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 20,180 shares of the company's stock worth $260,000 after purchasing an additional 8,205 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Adient by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 3,485,241 shares of the company's stock worth $44,820,000 after purchasing an additional 53,101 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Adient by 75.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,597 shares of the company's stock worth $72,000 after purchasing an additional 2,415 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ADNT. Zacks Research lowered Adient from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. Stifel Nicolaus began coverage on Adient in a report on Thursday, August 21st. They set a "buy" rating and a $27.00 price objective on the stock. UBS Group lifted their price objective on Adient from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Barclays lifted their price objective on Adient from $18.00 to $25.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company lifted their price objective on Adient from $18.00 to $24.00 and gave the stock an "equal weight" rating in a 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 company. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $21.72.

Adient Trading Up 0.8%

Shares of NYSE ADNT traded up $0.20 during midday trading on Tuesday, hitting $25.24. The stock had a trading volume of 1,407,170 shares, compared to its average volume of 1,252,819. The company's 50-day simple moving average is $22.06 and its 200 day simple moving average is $17.12. The firm has a market cap of $2.05 billion, a P/E ratio of -9.52, a price-to-earnings-growth ratio of 0.83 and a beta of 1.72. Adient has a fifty-two week low of $10.04 and a fifty-two week high of $25.56. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.12 and a quick ratio of 0.92.

Adient (NYSE:ADNT - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). The firm 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 period last year, the business posted $0.32 earnings per share. Research analysts anticipate that Adient will post 1.76 EPS for the current 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.