Principal Financial Group Inc. Purchases 71,055 Shares of Adient $ADNT

Principal Financial Group Inc. lifted its position in shares of Adient (NYSE:ADNT) by 18.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 448,624 shares of the company’s stock after purchasing an additional 71,055 shares during the period. Principal Financial Group Inc.’s holdings in Adient were worth $9,067,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Leonteq Securities AG bought a new position in Adient during the fourth quarter worth about $30,000. Quarry LP raised its stake in Adient by 163.9% in the third quarter. Quarry LP now owns 2,304 shares of the company’s stock valued at $55,000 after buying an additional 1,431 shares during the period. Raymond James Financial Inc. bought a new stake in Adient in the second quarter valued at approximately $63,000. Los Angeles Capital Management LLC acquired a new stake in shares of Adient in the fourth quarter valued at approximately $64,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Adient in the fourth quarter valued at approximately $96,000. 92.44% of the stock is owned by institutional investors.

Adient Price Performance

Adient stock opened at $20.40 on Monday. Adient has a 12 month low of $17.68 and a 12 month high of $27.32. The stock’s 50 day moving average is $20.78 and its 200-day moving average is $21.58. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 0.39 and a beta of 1.53.

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

Insider Activity at Adient

In related news, EVP Heather M. Tiltmann sold 22,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $22.71, for a total value of $499,620.00. Following the transaction, the executive vice president directly owned 110,886 shares in the company, valued at approximately $2,518,221.06. This represents a 16.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.94% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ADNT. Citigroup upgraded Adient from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $30.00 to $33.00 in a research note on Wednesday, April 15th. UBS Group raised their price target on Adient from $33.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Barclays lifted their price objective on shares of Adient from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Adient from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Finally, Weiss Ratings raised shares of Adient from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Five 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $28.11.

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.