Letko Brosseau & Associates Inc. Grows Holdings in Adient $ADNT

Letko Brosseau & Associates Inc. lifted its holdings in Adient (NYSE:ADNT) by 5.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,576,385 shares of the company’s stock after buying an additional 79,549 shares during the quarter. Letko Brosseau & Associates Inc. owned approximately 2.01% of Adient worth $30,219,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hantz Financial Services Inc. grew its position in shares of Adient by 62.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,140 shares of the company’s stock worth $27,000 after buying an additional 439 shares during the period. Leonteq Securities AG purchased a new stake in shares of Adient in the 4th quarter worth about $30,000. Quarry LP grew its position in shares of Adient by 163.9% in the 3rd quarter. Quarry LP now owns 2,304 shares of the company’s stock worth $55,000 after buying an additional 1,431 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Adient in the 2nd quarter worth about $63,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Adient in the 4th quarter worth about $64,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Adient

In other news, EVP Heather M. Tiltmann sold 22,000 shares of Adient stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $22.71, for a total value of $499,620.00. Following the completion of the sale, the executive vice president directly owned 110,886 shares in the company, valued at $2,518,221.06. The trade was a 16.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.94% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on ADNT. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $31.00 price target on shares of Adient in a research note on Thursday, May 7th. Citigroup upgraded shares of Adient from a “neutral” rating to a “buy” rating and upped their price target for the stock from $30.00 to $33.00 in a research note on Wednesday, April 15th. Wells Fargo & Company dropped their price target on shares of Adient from $29.00 to $28.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Bank of America began coverage on shares of Adient in a research note on Wednesday, March 4th. They issued an “underperform” rating and a $22.00 price target on the stock. Finally, Barclays upped their price target on shares of Adient from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Adient has a consensus rating of “Hold” and a consensus target price of $28.00.

Adient Stock Performance

Shares of Adient stock opened at $22.05 on Wednesday. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 0.43 and a beta of 1.50. The firm’s 50-day moving average is $21.48 and its 200 day moving average is $21.36. Adient has a 1 year low of $16.57 and a 1 year high of $27.32. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.10 and a quick ratio of 0.91.

Adient (NYSE:ADNT) last posted its earnings results on Wednesday, May 6th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.08. Adient had a net margin of 0.39% and a return on equity of 7.28%. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.62 billion. During the same quarter in the prior year, the business earned $0.69 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Sell-side analysts anticipate that Adient will post 2.1 EPS for the current fiscal year.

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.