Adient $ADNT Shares Sold by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC lowered its position in shares of Adient (NYSE:ADNT) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,924,117 shares of the company’s stock after selling 57,214 shares during the period. Adient accounts for approximately 2.4% of HITE Hedge Asset Management LLC’s portfolio, making the stock its 10th largest position. HITE Hedge Asset Management LLC’s holdings in Adient were worth $36,885,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hantz Financial Services Inc. lifted its position in Adient by 62.6% in the third quarter. Hantz Financial Services Inc. now owns 1,140 shares of the company’s stock valued at $27,000 after acquiring an additional 439 shares during the last quarter. Leonteq Securities AG purchased a new stake in Adient in the fourth quarter valued at $30,000. Quarry LP lifted its position 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 acquiring an additional 1,431 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Adient in the second quarter valued at $63,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Adient in the fourth quarter valued at $64,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on ADNT. Barclays boosted their price target on shares of Adient from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $31.00 price target on shares of Adient in a research report on Thursday, May 7th. Bank of America began coverage on shares of Adient in a research report on Wednesday, March 4th. They issued an “underperform” rating and a $22.00 price target for the company. UBS Group boosted their price target on shares of Adient from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. 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 equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $28.00.

Insider Activity at Adient

In other 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 completion of the sale, the executive vice president directly owned 110,886 shares of the company’s stock, valued at approximately $2,518,221.06. This represents a 16.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.94% of the company’s stock.

Adient Price Performance

Shares of NYSE:ADNT opened at $22.70 on Friday. The company has a 50-day simple moving average of $21.61 and a 200-day simple moving average of $21.42. Adient has a one year low of $17.70 and a one year high of $27.32. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.91 and a current ratio of 1.10. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 31.97, a PEG ratio of 0.44 and a beta of 1.50.

Adient (NYSE:ADNT) last announced its earnings results on Wednesday, May 6th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.62 billion. During the same period in the prior year, the company earned $0.69 earnings per share. The business’s revenue was up 7.0% compared to the same quarter last year. On average, analysts predict that Adient will post 2.1 EPS for the current year.

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.