Adient plc (NYSE:ADNT) Shares Purchased by Millennium Management LLC

Millennium Management LLC boosted its position in Adient plc (NYSE:ADNT - Free Report) by 2,039.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 610,312 shares of the company's stock after buying an additional 581,779 shares during the period. Millennium Management LLC owned approximately 0.73% of Adient worth $10,516,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Adient by 96.5% in the fourth quarter. JPMorgan Chase & Co. now owns 802,540 shares of the company's stock valued at $13,828,000 after buying an additional 394,111 shares during the last quarter. Northern Trust Corp boosted its position in Adient by 6.8% in the fourth quarter. Northern Trust Corp now owns 1,129,645 shares of the company's stock valued at $19,464,000 after buying an additional 72,077 shares during the last quarter. Pzena Investment Management LLC boosted its position in Adient by 28.5% in the fourth quarter. Pzena Investment Management LLC now owns 3,629,452 shares of the company's stock valued at $62,535,000 after buying an additional 803,961 shares during the last quarter. Quantbot Technologies LP boosted its position in Adient by 263.6% in the fourth quarter. Quantbot Technologies LP now owns 80,294 shares of the company's stock valued at $1,383,000 after buying an additional 58,209 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Adient by 61.0% in the fourth quarter. Russell Investments Group Ltd. now owns 67,353 shares of the company's stock valued at $1,160,000 after buying an additional 25,524 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wells Fargo & Company upped their target price on Adient from $14.00 to $17.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. UBS Group upped their price objective on Adient from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Citigroup started coverage on Adient in a research report on Wednesday, April 23rd. They issued a "neutral" rating and a $14.00 price objective on the stock. Wall Street Zen upgraded Adient from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Barclays lowered Adient from an "equal weight" rating to a "negative" rating in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $18.22.

Adient Price Performance

Shares of NYSE:ADNT traded up $0.24 during midday trading on Thursday, reaching $15.62. 111,275 shares of the company's stock traded hands, compared to its average volume of 1,513,542. Adient plc has a 1 year low of $10.04 and a 1 year high of $28.48. The company has a market cap of $1.31 billion, a P/E ratio of 780.75, a PEG ratio of 0.34 and a beta of 1.60. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.86 and a current ratio of 1.08. The company has a fifty day simple moving average of $13.10 and a two-hundred day simple moving average of $15.90.

Adient (NYSE:ADNT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.33. Adient had a positive return on equity of 6.94% and a negative net margin of 0.01%. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the firm posted $0.54 EPS. The business's revenue was down 3.7% on a year-over-year basis. Equities analysts predict that Adient plc will post 1.76 EPS for the current fiscal year.

Adient Profile

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.