Vanguard Group Inc. Increases Stock Holdings in Adient $ADNT

Key Points

• Vanguard Group raised its stake in Adient by 3.9% in Q3 to 4,475,944 shares, representing about 5.51% ownership worth roughly $107.8 million.
• Multiple institutional investors (e.g., Arrowstreet, Assenagon, AQR, Letko Brosseau) added or initiated positions, leaving hedge funds and other institutions with about 92.44% of the company's stock.
• Analysts have recently bumped price targets into the mid-$20s/low-$30s but the consensus rating remains an average Hold with a $27.67 target, while Adient recently beat quarterly EPS and revenue expectations (EPS $0.35 vs. $0.19).

Vanguard Group Inc. boosted its stake in Adient (NYSE:ADNT - Free Report) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,475,944 shares of the company's stock after acquiring an additional 166,319 shares during the quarter. Vanguard Group Inc. owned about 5.51% of Adient worth $107,781,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ADNT. Letko Brosseau & Associates Inc. purchased a new position in shares of Adient in the second quarter valued at $28,839,000. Arrowstreet Capital Limited Partnership lifted its holdings in Adient by 439.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,171,695 shares of the company's stock worth $22,801,000 after buying an additional 954,441 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Adient by 921.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 812,329 shares of the company's stock valued at $19,561,000 after buying an additional 732,837 shares during the last quarter. AQR Capital Management LLC boosted its position in Adient by 143.3% in the 2nd quarter. AQR Capital Management LLC now owns 581,242 shares of the company's stock valued at $11,276,000 after buying an additional 342,329 shares during the last quarter. Finally, Creative Planning acquired a new stake in shares of Adient during the second quarter valued at about $4,950,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on ADNT shares. Barclays boosted their price target on Adient from $25.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Friday, February 6th. UBS Group upped their target price on Adient from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. JPMorgan Chase & Co. increased their target price on Adient from $24.00 to $28.00 and gave the company a "neutral" rating in a research note on Friday, February 6th. Citigroup raised their price target on shares of Adient from $22.50 to $30.00 and gave the stock a "neutral" rating in a research report on Monday, February 9th. Finally, Wall Street Zen raised shares of Adient from a "hold" rating to a "buy" rating in a report on Friday, January 23rd. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Adient has an average rating of "Hold" and an average price target of $27.67.

Adient Trading Down 2.0%

NYSE:ADNT opened at $22.14 on Thursday. Adient has a 12-month low of $10.04 and a 12-month high of $27.32. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.09 and a quick ratio of 0.88. The business has a 50 day simple moving average of $22.63 and a 200 day simple moving average of $22.38. The firm has a market capitalization of $1.73 billion, a P/E ratio of -6.12, a P/E/G ratio of 0.60 and a beta of 1.56.

Adient (NYSE:ADNT - Get Free Report) last posted its earnings results on Wednesday, February 4th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.19 by $0.16. The firm had revenue of $3.64 billion during the quarter, compared to analysts' expectations of $3.45 billion. Adient had a negative net margin of 2.06% and a positive return on equity of 8.18%. Adient's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 EPS. Equities research analysts predict that Adient will post 1.76 EPS for the current year.

Adient Company Profile

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.