Principal Financial Group Inc. Buys 71,055 Shares of Adient $ADNT

Key Points

• Principal Financial Group increased its Adient stake by 18.8%, buying 71,055 shares to own 448,624 shares valued at approximately $9.1 million. Institutional investors collectively hold 92.44% of Adient’s stock.
• Adient reported quarterly EPS of $0.52, exceeding estimates of $0.44, while revenue rose 7% year over year to $3.87 billion. The stock opened at $20.40, within a 52-week range of $17.68 to $27.32.
• Analyst sentiment remains mixed but leans positive, with an average “Hold” rating and a $28.11 price target; five analysts rate the stock a Buy, six a Hold, and one a Sell. Separately, Executive Vice President Heather Tiltmann sold 22,000 shares worth about $500,000.

Principal Financial Group Inc. grew its stake in Adient (NYSE:ADNT - Free Report) by 18.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 448,624 shares of the company's stock after buying an additional 71,055 shares during the quarter. Principal Financial Group Inc. owned 0.57% of Adient worth $9,067,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Hsbc Holdings PLC raised its holdings in shares of Adient by 7.1% during the first quarter. Hsbc Holdings PLC now owns 73,343 shares of the company's stock worth $1,462,000 after acquiring an additional 4,866 shares during the period. Saxon Interests Inc. acquired a new position in Adient in the 1st quarter worth $654,000. Counterpoint Mutual Funds LLC increased its holdings in Adient by 51.3% during the 1st quarter. Counterpoint Mutual Funds LLC now owns 40,125 shares of the company's stock worth $811,000 after purchasing an additional 13,605 shares in the last quarter. Inspire Investing LLC increased its holdings in Adient by 4.8% during the 1st quarter. Inspire Investing LLC now owns 25,814 shares of the company's stock worth $522,000 after purchasing an additional 1,178 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in shares of Adient by 17.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 14,350 shares of the company's stock valued at $290,000 after purchasing an additional 2,119 shares during the period. Institutional investors own 92.44% of the company's stock.

Insiders Place Their Bets

In other Adient news, EVP Heather M. Tiltmann sold 22,000 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $22.71, for a total value of $499,620.00. Following the completion of the transaction, the executive vice president directly owned 110,886 shares in the company, valued at $2,518,221.06. This trade represents a 16.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.94% of the stock is currently owned by corporate insiders.

Adient Trading Down 0.0%

Adient stock opened at $20.40 on Monday. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 28.73, a P/E/G ratio of 0.39 and a beta of 1.53. The firm has a 50-day moving average of $20.78 and a 200-day moving average of $21.58. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.10 and a quick ratio of 0.91. Adient has a one year low of $17.68 and a one year high of $27.32.

Adient (NYSE:ADNT - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.08. Adient had a return on equity of 7.28% and a net margin of 0.39%.The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter in the previous year, the business earned $0.69 earnings per share. Adient's quarterly revenue was up 7.0% on a year-over-year basis. On average, equities analysts expect that Adient will post 2.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ADNT shares. Weiss Ratings raised Adient from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Wednesday, May 13th. UBS Group lifted their target price on Adient from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Barclays boosted their target price on Adient from $26.00 to $29.00 and gave the company an "equal weight" rating in a research note on Monday, May 11th. Citigroup raised Adient from a "neutral" rating to a "buy" rating and upped their price target for the stock from $30.00 to $33.00 in a research report on Wednesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Adient from $31.00 to $29.00 and set a "buy" rating for the company in a research note on Monday, July 6th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $28.11.

About Adient

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.

Want to see what other hedge funds are holding ADNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adient (NYSE:ADNT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.