Aigen Investment Management LP Makes New $443,000 Investment in Adient plc (NYSE:ADNT)

Aigen Investment Management LP acquired a new position in Adient plc (NYSE:ADNT) during the first quarter, Holdings Channel.com reports. The firm acquired 10,033 shares of the company’s stock, valued at approximately $443,000.

Other hedge funds have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC lifted its holdings in Adient by 933.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 837 shares of the company’s stock worth $29,000 after buying an additional 756 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Adient in the 4th quarter valued at about $32,000. Meeder Asset Management Inc. raised its stake in shares of Adient by 3,494.9% in the 1st quarter. Meeder Asset Management Inc. now owns 1,402 shares of the company’s stock valued at $62,000 after purchasing an additional 1,363 shares in the last quarter. Connecticut Wealth Management LLC acquired a new stake in shares of Adient in the 1st quarter valued at about $219,000. Finally, Advisory Services Network LLC raised its stake in shares of Adient by 20.2% in the 4th quarter. Advisory Services Network LLC now owns 1,863 shares of the company’s stock valued at $65,000 after purchasing an additional 313 shares in the last quarter. Hedge funds and other institutional investors own 88.61% of the company’s stock.

NYSE ADNT opened at $47.42 on Friday. Adient plc has a 52 week low of $15.00 and a 52 week high of $53.17. The company has a current ratio of 1.12, a quick ratio of 0.91 and a debt-to-equity ratio of 1.98. The company has a market cap of $4.47 billion, a PE ratio of -30.79, a price-to-earnings-growth ratio of 0.48 and a beta of 3.29. The stock has a 50-day moving average price of $47.29.

Adient (NYSE:ADNT) last posted its earnings results on Wednesday, May 5th. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.59 by $0.56. Adient had a negative net margin of 1.10% and a positive return on equity of 7.12%. During the same period in the previous year, the business posted $0.62 earnings per share. As a group, equities research analysts anticipate that Adient plc will post 3.5 earnings per share for the current year.

ADNT has been the topic of a number of recent analyst reports. Royal Bank of Canada upped their target price on shares of Adient from $46.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, March 15th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Adient from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, May 7th. Zacks Investment Research downgraded shares of Adient from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research report on Monday, March 15th. Morgan Stanley boosted their price objective on shares of Adient from $38.00 to $40.00 and gave the company an “underweight” rating in a research report on Thursday, May 13th. Finally, KeyCorp boosted their price objective on shares of Adient from $45.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, March 15th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. Adient presently has an average rating of “Buy” and a consensus price target of $47.91.

In other news, EVP Jerome J. Dorlack sold 4,500 shares of the stock in a transaction that occurred on Thursday, May 20th. The shares were sold at an average price of $46.58, for a total value of $209,610.00. Following the completion of the transaction, the executive vice president now directly owns 117,672 shares in the company, valued at $5,481,161.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Gregory Scott Smith sold 750 shares of the stock in a transaction that occurred on Friday, May 7th. The shares were sold at an average price of $48.52, for a total transaction of $36,390.00. Following the completion of the transaction, the chief accounting officer now owns 13,576 shares of the company’s stock, valued at $658,707.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,150 shares of company stock valued at $289,614. 0.36% of the stock is owned by insiders.

About Adient

Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's products include frames, mechanisms, foams, head restraints, armrests, and trim covers. It serves automotive original equipment manufacturers in the Americas, Europe, China, and internationally.

Further Reading: How to start trading in the forex market?

Want to see what other hedge funds are holding ADNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adient plc (NYSE:ADNT).

Institutional Ownership by Quarter for Adient (NYSE:ADNT)

Receive News & Ratings for Adient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adient and related companies with MarketBeat.com's FREE daily email newsletter.