Edgestream Partners L.P. Sells 36,230 Shares of Adient $ADNT

Edgestream Partners L.P. lessened its stake in Adient (NYSE:ADNT) by 11.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 291,060 shares of the company’s stock after selling 36,230 shares during the period. Edgestream Partners L.P. owned about 0.37% of Adient worth $5,882,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Leonteq Securities AG purchased a new stake in shares of Adient during the fourth quarter worth about $30,000. Quarry LP increased its holdings in Adient by 163.9% during the 3rd quarter. Quarry LP now owns 2,304 shares of the company’s stock valued at $55,000 after purchasing an additional 1,431 shares during the period. Parallel Advisors LLC increased its holdings in Adient by 19.4% during the 1st quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock valued at $64,000 after purchasing an additional 517 shares during the period. Raymond James Financial Inc. bought a new position in Adient during the 2nd quarter valued at approximately $63,000. Finally, Los Angeles Capital Management LLC bought a new position in Adient during the 4th quarter valued at approximately $64,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ADNT has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their price objective on Adient from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. BNP Paribas Exane upgraded Adient from a “neutral” rating to an “outperform” rating and set a $26.00 target price for the company in a report on Thursday. Citigroup raised Adient from a “neutral” rating to a “buy” rating and raised their price target for the stock from $30.00 to $33.00 in a research note on Wednesday, April 15th. UBS Group lifted their price target on shares of Adient from $33.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Finally, Wells Fargo & Company boosted their price objective on shares of Adient from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.90.

Adient Stock Performance

Adient stock opened at $21.93 on Friday. The stock’s 50 day simple moving average is $20.86 and its two-hundred day simple moving average is $21.63. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.91 and a current ratio of 1.10. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 0.42 and a beta of 1.53. Adient has a fifty-two week low of $17.68 and a fifty-two week high of $27.32.

Adient (NYSE:ADNT) last posted its earnings results on Wednesday, May 6th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.62 billion. Adient had a return on equity of 7.28% and a net margin of 0.39%.The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 EPS. As a group, analysts expect that Adient will post 2.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Heather M. Tiltmann sold 22,000 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $22.71, for a total value of $499,620.00. Following the sale, the executive vice president directly owned 110,886 shares of the company’s stock, valued at $2,518,221.06. This represents a 16.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.94% of the stock is currently owned by insiders.

About Adient

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.