Vanguard Group Inc. Buys 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. lifted its stake in shares of Adient (NYSE:ADNT - Free Report) by 1.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,485,241 shares of the company's stock after buying an additional 53,101 shares during the quarter. Vanguard Group Inc. owned about 4.15% of Adient worth $44,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of ADNT. Point72 Hong Kong Ltd purchased a new position in shares of Adient during the fourth quarter valued at about $25,000. GAMMA Investing LLC grew its holdings in Adient by 157.5% in the first quarter. GAMMA Investing LLC now owns 2,235 shares of the company's stock worth $29,000 after purchasing an additional 1,367 shares during the period. CWM LLC grew its holdings in Adient by 91.4% in the first quarter. CWM LLC now owns 3,426 shares of the company's stock worth $44,000 after purchasing an additional 1,636 shares during the period. PNC Financial Services Group Inc. grew its holdings in Adient by 75.9% in the first 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 during the period. Finally, Teacher Retirement System of Texas purchased a new stake in Adient in the first quarter worth about $160,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ADNT shares. Barclays upped their price objective on shares of Adient from $18.00 to $25.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Cfra Research upgraded shares of Adient from a "moderate sell" rating to a "hold" rating in a report on Thursday, August 7th. Wall Street Zen upgraded shares of Adient from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Bank of America upped their price objective on shares of Adient from $15.00 to $17.50 and gave the stock an "underperform" rating in a report on Monday, June 16th. Finally, 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 objective on the stock. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Adient presently has a consensus rating of "Reduce" and a consensus target price of $21.72.

Adient Stock Down 1.0%

Shares of NYSE:ADNT traded down $0.26 during trading on Friday, reaching $24.82. 760,033 shares of the stock traded hands, compared to its average volume of 1,209,802. The stock has a 50-day moving average of $22.44 and a two-hundred day moving average of $17.29. Adient has a 52-week low of $10.04 and a 52-week high of $25.84. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.92 and a current ratio of 1.12. The stock has a market cap of $2.02 billion, a P/E ratio of -9.37, a price-to-earnings-growth ratio of 0.82 and a beta of 1.76.

Adient (NYSE:ADNT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.45 EPS 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 firm had revenue of $3.74 billion for the quarter, compared to analysts' expectations of $3.56 billion. During the same quarter in the previous year, the company earned $0.32 EPS. The company's quarterly revenue was up .7% compared to the same quarter last year. As a group, sell-side analysts expect that Adient will post 1.76 earnings per share for the current fiscal 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.