Quantbot Technologies LP Sells 30,131 Shares of Adient $ADNT

Quantbot Technologies LP cut its stake in Adient (NYSE:ADNT) by 32.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 62,851 shares of the company’s stock after selling 30,131 shares during the quarter. Quantbot Technologies LP’s holdings in Adient were worth $1,513,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of ADNT. Teacher Retirement System of Texas lifted its position in Adient by 441.0% during the third quarter. Teacher Retirement System of Texas now owns 69,085 shares of the company’s stock worth $1,664,000 after purchasing an additional 56,316 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Adient by 439.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,171,695 shares of the company’s stock valued at $22,801,000 after buying an additional 954,441 shares in the last quarter. Texas Permanent School Fund Corp raised its position in shares of Adient by 241.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 146,486 shares of the company’s stock valued at $2,851,000 after buying an additional 103,603 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of Adient by 257.4% during the 2nd quarter. Intech Investment Management LLC now owns 170,252 shares of the company’s stock worth $3,313,000 after acquiring an additional 122,610 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of Adient by 921.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 812,329 shares of the company’s stock worth $19,561,000 after acquiring an additional 732,837 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Adient Trading Down 0.5%

NYSE ADNT opened at $22.05 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.09 and a debt-to-equity ratio of 1.17. Adient has a twelve month low of $10.04 and a twelve month high of $27.32. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -6.09, a price-to-earnings-growth ratio of 0.58 and a beta of 1.56. The business’s fifty day moving average is $22.68 and its 200 day moving average is $22.38.

Adient (NYSE:ADNT) last issued its earnings results on Wednesday, February 4th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.16. Adient had a positive return on equity of 8.18% and a negative net margin of 2.06%.The business had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter in the prior year, the firm earned $0.27 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, sell-side analysts expect that Adient will post 1.76 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on ADNT shares. Bank of America assumed coverage on shares of Adient in a research report on Wednesday. They set an “underperform” rating and a $22.00 price objective for the company. Citigroup lifted their price target on Adient from $22.50 to $30.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Wall Street Zen upgraded Adient from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Deutsche Bank Aktiengesellschaft raised Adient from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Thursday, February 5th. Finally, Stifel Nicolaus boosted their target price on Adient from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $27.67.

Adient Company 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.