Letko Brosseau & Associates Inc. Buys 79,549 Shares of Adient $ADNT

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

Other institutional investors have also recently made changes to their positions in the company. UBS Group AG lifted its stake in shares of Adient by 12.9% in the 4th quarter. UBS Group AG now owns 1,848,690 shares of the company’s stock worth $35,439,000 after purchasing an additional 210,758 shares during the period. Advisors Preferred LLC bought a new position in shares of Adient in the 3rd quarter worth approximately $1,092,000. State of New Jersey Common Pension Fund D bought a new position in shares of Adient in the 3rd quarter worth approximately $2,173,000. Vanguard Group Inc. lifted its stake in shares of Adient by 3.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,475,944 shares of the company’s stock worth $107,781,000 after purchasing an additional 166,319 shares during the period. Finally, Towle & Co. lifted its stake in shares of Adient by 37.8% in the 3rd quarter. Towle & Co. now owns 443,422 shares of the company’s stock worth $10,678,000 after purchasing an additional 121,655 shares during the period. Institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ADNT. JPMorgan Chase & Co. lowered their price objective on shares of Adient from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd. 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 objective on the stock. Barclays increased their price objective 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. Wells Fargo & Company lowered their price objective 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. Finally, Citigroup upgraded shares of Adient from a “neutral” rating to a “buy” rating and raised their target price for the stock from $30.00 to $33.00 in a research note on Wednesday, April 15th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Adient has an average rating of “Hold” and an average price target of $28.00.

Adient Trading Down 1.2%

Adient stock opened at $22.05 on Wednesday. The stock has a market cap of $1.73 billion, a P/E ratio of 31.06, a PEG ratio of 0.43 and a beta of 1.50. 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 has a 1 year low of $16.57 and a 1 year high of $27.32. The firm’s 50 day moving average price is $21.48 and its 200-day moving average price is $21.36.

Adient (NYSE:ADNT) last released its quarterly earnings data 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. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.62 billion. Adient had a net margin of 0.39% and a return on equity of 7.28%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. On average, equities analysts predict that Adient will post 2.1 earnings per share for the current fiscal year.

Insider Activity

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 transaction of $499,620.00. Following the sale, the executive vice president owned 110,886 shares in the company, valued at $2,518,221.06. This trade represents a 16.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.94% of the stock is currently owned by insiders.

Adient 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.