Insider Buying: Adient PLC (ADNT) Director Acquires 3,000 Shares of Stock
Adient PLC (NASDAQ:ADNT) Director Raymond L. Conner acquired 3,000 shares of Adient PLC stock in a transaction that occurred on Wednesday, September 13th. The shares were purchased at an average cost of $73.91 per share, with a total value of $221,730.00. Following the purchase, the director now owns 5,270 shares of the company’s stock, valued at approximately $389,505.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Adient PLC (NASDAQ ADNT) traded up 1.33% during trading on Thursday, reaching $76.39. 942,184 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $74.81 and its 200-day moving average is $70.75. Adient PLC has a 12-month low of $39.66 and a 12-month high of $77.87. The company’s market cap is $7.11 billion.
Adient PLC (NASDAQ:ADNT) last released its earnings results on Thursday, July 27th. The company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.02. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Adient PLC had a net margin of 5.63% and a return on equity of 21.65%. The firm’s revenue was down 7.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.43 EPS. Analysts predict that Adient PLC will post $9.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, October 18th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Tuesday, October 17th.
Several equities analysts recently commented on ADNT shares. Zacks Investment Research cut shares of Adient PLC from a “hold” rating to a “sell” rating in a research note on Monday, July 3rd. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Adient PLC in a research note on Thursday, July 6th. Bank of America Corporation reaffirmed an “underperform” rating and set a $40.00 price objective (down previously from $50.00) on shares of Adient PLC in a research note on Friday, June 16th. Morgan Stanley reduced their price objective on shares of Adient PLC from $95.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, June 9th. Finally, Guggenheim started coverage on shares of Adient PLC in a research note on Wednesday, June 21st. They set a “neutral” rating and a $65.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $62.87.
Adient PLC Company Profile
Adient plc, formerly Adient Limited, is an automotive seating supplier. The Company designs, manufactures and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks, including vans, pick-up trucks, and sport/crossover utility vehicles. The Company operates through two segments: Seating and Interiors.
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