90,245 Shares in Adient $ADNT Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D purchased a new stake in shares of Adient (NYSE:ADNT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 90,245 shares of the company’s stock, valued at approximately $2,173,000. State of New Jersey Common Pension Fund D owned about 0.11% of Adient as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in shares of Adient by 24.6% during the third quarter. PNC Financial Services Group Inc. now owns 7,370 shares of the company’s stock valued at $177,000 after acquiring an additional 1,456 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of Adient by 10.7% in the third quarter. Public Sector Pension Investment Board now owns 316,934 shares of the company’s stock worth $7,632,000 after purchasing an additional 30,552 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in Adient by 22.1% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 46,120 shares of the company’s stock valued at $1,111,000 after purchasing an additional 8,353 shares during the period. Versor Investments LP bought a new position in Adient during the 3rd quarter valued at approximately $243,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Adient in the 3rd quarter worth approximately $219,000. Institutional investors own 92.44% of the company’s stock.

Insider Activity

In other news, EVP Michel Pierre Rose Berthelin sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $19.71, for a total value of $49,275.00. Following the sale, the executive vice president directly owned 116,425 shares of the company’s stock, valued at $2,294,736.75. The trade was a 2.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.94% of the company’s stock.

Adient Stock Performance

Shares of ADNT stock opened at $24.36 on Tuesday. The company’s fifty day moving average price is $22.00 and its 200-day moving average price is $22.34. The stock has a market cap of $1.91 billion, a PE ratio of -6.73, a price-to-earnings-growth ratio of 0.65 and a beta of 1.61. The company has a current ratio of 1.09, a quick ratio of 0.88 and a debt-to-equity ratio of 1.17. Adient has a 12 month low of $10.04 and a 12 month high of $27.32.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.16. Adient had a negative net margin of 2.06% and a positive return on equity of 8.18%. The company had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same period last year, the company posted $0.27 EPS. Adient’s revenue was up 4.3% on a year-over-year basis. On average, equities analysts expect that Adient will post 1.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ADNT. Citigroup boosted their target price on Adient from $22.50 to $30.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Morgan Stanley lifted their price target on shares of Adient from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft raised shares of Adient from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Thursday, February 5th. JPMorgan Chase & Co. upped their price objective on shares of Adient from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Finally, Barclays lifted their target price on shares of Adient from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, February 6th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Adient presently has an average rating of “Hold” and an average target price of $27.44.

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.