JPMorgan Chase & Co. Trims Stock Position in Adient $ADNT

JPMorgan Chase & Co. lessened its stake in Adient (NYSE:ADNT) by 9.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,323,011 shares of the company’s stock after selling 139,151 shares during the quarter. JPMorgan Chase & Co.’s holdings in Adient were worth $31,858,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ADNT. Royal Bank of Canada grew its holdings in Adient by 11.6% during the first quarter. Royal Bank of Canada now owns 22,429 shares of the company’s stock worth $289,000 after acquiring an additional 2,331 shares during the period. AQR Capital Management LLC lifted its holdings in Adient by 171.1% in the first quarter. AQR Capital Management LLC now owns 238,913 shares of the company’s stock valued at $2,977,000 after acquiring an additional 150,792 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Adient in the 1st quarter worth approximately $236,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Adient by 7.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,571 shares of the company’s stock worth $420,000 after purchasing an additional 1,485 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Adient during the 2nd quarter worth approximately $2,450,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Adient Trading Down 1.1%

Shares of NYSE:ADNT opened at $19.56 on Monday. The business’s 50 day moving average price is $22.87 and its 200-day moving average price is $22.04. Adient has a 1 year low of $10.04 and a 1 year high of $27.32. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -5.40, a price-to-earnings-growth ratio of 0.43 and a beta of 1.55. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.09 and a quick ratio of 0.88.

Adient (NYSE:ADNT) last issued its quarterly 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 company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.45 billion. Adient had a negative net margin of 2.06% and a positive return on equity of 8.18%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 EPS. On average, equities research analysts forecast that Adient will post 1.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Adient from $22.50 to $30.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Adient from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Thursday, February 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Adient in a research report on Wednesday, January 21st. UBS Group increased their target price on shares of Adient from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Finally, Wall Street Zen upgraded Adient from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adient presently has an average rating of “Hold” and a consensus target price of $27.67.

Adient 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.