Comerica Bank grew its position in Adient PLC (NYSE:ADNT) by 45.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 260,349 shares of the company’s stock after purchasing an additional 81,037 shares during the period. Comerica Bank owned about 0.28% of Adient worth $8,240,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of ADNT. Mount Yale Investment Advisors LLC lifted its position in Adient by 268.8% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 2,032 shares of the company’s stock worth $100,000 after buying an additional 1,481 shares in the last quarter. Massey Quick Simon & CO. LLC acquired a new position in Adient during the 2nd quarter worth about $158,000. Jane Street Group LLC acquired a new position in Adient during the 1st quarter worth about $210,000. Oakbrook Investments LLC acquired a new position in Adient during the 3rd quarter worth about $219,000. Finally, Alps Advisors Inc. acquired a new position in Adient during the 2nd quarter worth about $221,000. Institutional investors own 97.85% of the company’s stock.
NYSE ADNT opened at $21.52 on Friday. Adient PLC has a 52-week low of $21.42 and a 52-week high of $84.59. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.04 and a quick ratio of 0.84. The company has a market cap of $2.77 billion, a P/E ratio of 2.30, a price-to-earnings-growth ratio of 0.38 and a beta of 0.73.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 24th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date of this dividend is Tuesday, October 23rd. Adient’s dividend payout ratio (DPR) is currently 11.76%.
Several analysts have weighed in on ADNT shares. Zacks Investment Research cut Adient from a “hold” rating to a “strong sell” rating in a report on Monday, July 16th. Longbow Research reissued a “buy” rating and set a $58.00 price objective on shares of Adient in a report on Friday, July 27th. Robert W. Baird raised Adient from an “underperform” rating to a “neutral” rating and set a $73.00 price objective for the company in a report on Friday, July 27th. Guggenheim set a $46.00 price objective on Adient and gave the stock a “hold” rating in a report on Friday, July 27th. Finally, Barclays dropped their price objective on Adient from $63.00 to $58.00 and set an “equal weight” rating for the company in a report on Monday, July 30th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $53.92.
Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company operates through two segments, Seating and Interiors. The Seating segment produces automotive seat metal structures and mechanisms, foams, trims, fabrics, and seat systems.
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