Vanguard Group Inc. Acquires 53,101 Shares of Adient $ADNT

Key Points

• Vanguard Group Inc. raised its stake in Adient by 1.5% in the first quarter, now owning 3,485,241 shares valued at approximately $44.8 million.
• Other institutional investors, like Millennium Management and Federated Hermes, significantly increased their holdings in Adient, demonstrating growing institutional confidence in the company.
• Adient's stock recently traded at $25.07, with its earnings report revealing a quarterly earnings per share of $0.45, which fell short of estimates, but with revenues surpassing forecasts at $3.74 billion.

Vanguard Group Inc. increased its position in Adient (NYSE:ADNT - Free Report) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,485,241 shares of the company's stock after purchasing an additional 53,101 shares during the quarter. Vanguard Group Inc. owned approximately 4.15% of Adient worth $44,820,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new stake in shares of Adient in the 4th quarter valued at about $25,000. GAMMA Investing LLC raised its holdings in Adient by 157.5% in the 1st quarter. GAMMA Investing LLC now owns 2,235 shares of the company's stock valued at $29,000 after acquiring an additional 1,367 shares during the period. CWM LLC raised its holdings in Adient by 91.4% in the 1st quarter. CWM LLC now owns 3,426 shares of the company's stock valued at $44,000 after acquiring an additional 1,636 shares during the period. PNC Financial Services Group Inc. raised its holdings in Adient by 75.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,597 shares of the company's stock valued at $72,000 after acquiring an additional 2,415 shares during the period. Finally, Mariner LLC raised its holdings in Adient by 8.6% in the 4th quarter. Mariner LLC now owns 10,157 shares of the company's stock valued at $175,000 after acquiring an additional 801 shares during the period. 92.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ADNT shares. Wall Street Zen raised shares of Adient from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Morgan Stanley increased their price target on shares of Adient from $16.00 to $17.00 and gave the company an "underweight" rating in a report on Tuesday, August 12th. Bank of America increased their price target on shares of Adient from $15.00 to $17.50 and gave the company an "underperform" rating in a report on Monday, June 16th. Stifel Nicolaus started coverage on shares of Adient in a report on Thursday, August 21st. They issued a "buy" rating and a $27.00 price target on the stock. Finally, Cfra Research upgraded shares of Adient from a "moderate sell" rating to a "hold" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $21.72.

Adient Price Performance

NYSE:ADNT traded down $0.26 during mid-day trading on Friday, reaching $24.82. The stock had a trading volume of 760,032 shares, compared to its average volume of 1,427,520. The stock has a 50-day simple moving average of $22.32 and a two-hundred day simple moving average of $17.24. The stock has a market capitalization of $2.02 billion, a PE ratio of -9.37, a P/E/G ratio of 0.85 and a beta of 1.72. 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 has a 12 month low of $10.04 and a 12 month high of $25.84.

Adient (NYSE:ADNT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.02). Adient had a negative net margin of 1.53% and a positive return on equity of 8.25%. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the prior year, the business earned $0.32 EPS. The business's quarterly revenue was up .7% on a year-over-year basis. On average, equities analysts anticipate that Adient will post 1.76 earnings per share for the current year.

Adient Company 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.