JPMorgan Chase & Co. Sells 139,151 Shares of Adient $ADNT

JPMorgan Chase & Co. lowered its stake in shares of Adient (NYSE:ADNT) by 9.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,323,011 shares of the company’s stock after selling 139,151 shares during the period. JPMorgan Chase & Co. owned 1.63% of Adient worth $31,858,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Letko Brosseau & Associates Inc. acquired a new position in shares of Adient during the 2nd quarter worth about $28,839,000. Arrowstreet Capital Limited Partnership increased its position in Adient by 439.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,171,695 shares of the company’s stock worth $22,801,000 after buying an additional 954,441 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Adient by 921.9% in the third quarter. Assenagon Asset Management S.A. now owns 812,329 shares of the company’s stock valued at $19,561,000 after buying an additional 732,837 shares during the period. AQR Capital Management LLC lifted its position in shares of Adient by 143.3% in the second quarter. AQR Capital Management LLC now owns 581,242 shares of the company’s stock valued at $11,276,000 after buying an additional 342,329 shares during the last quarter. Finally, Creative Planning acquired a new stake in shares of Adient in the second quarter valued at approximately $4,950,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ADNT. Wall Street Zen upgraded Adient from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Stifel Nicolaus increased their price objective on shares of Adient from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Wells Fargo & Company lifted their target price on shares of Adient from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, January 12th. Morgan Stanley increased 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. Finally, Citigroup boosted their price objective on Adient from $22.50 to $30.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Adient has an average rating of “Hold” and a consensus price target of $27.44.

Adient Price Performance

Shares of Adient stock opened at $24.26 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. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -6.70, a price-to-earnings-growth ratio of 0.65 and a beta of 1.61. Adient has a twelve month low of $10.04 and a twelve month high of $27.32. The company has a 50-day simple moving average of $22.42 and a two-hundred day simple moving average of $22.41.

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