Adient plc (NYSE:ADNT) Shares Sold by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC lessened its position in Adient plc (NYSE:ADNT) by 28.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 367,014 shares of the company’s stock after selling 145,689 shares during the quarter. HITE Hedge Asset Management LLC owned approximately 0.42% of Adient worth $8,284,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Adient by 9.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,197,090 shares of the company’s stock worth $117,298,000 after acquiring an additional 442,200 shares during the last quarter. Holocene Advisors LP lifted its position in shares of Adient by 48.3% in the 3rd quarter. Holocene Advisors LP now owns 172,661 shares of the company’s stock worth $3,897,000 after purchasing an additional 56,224 shares during the period. Centiva Capital LP bought a new stake in Adient during the 3rd quarter valued at $440,000. Verition Fund Management LLC purchased a new position in shares of Adient in the 3rd quarter worth about $316,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Adient by 66.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 179,461 shares of the company’s stock valued at $4,050,000 after buying an additional 71,651 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ADNT shares. Wells Fargo & Company reduced their price target on Adient from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Barclays dropped their target price on Adient from $29.00 to $24.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Bank of America lowered shares of Adient from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $30.00 to $24.00 in a report on Thursday, November 21st. Morgan Stanley reduced their target price on shares of Adient from $21.00 to $19.00 and set an “underweight” rating for the company in a report on Thursday, November 14th. Finally, StockNews.com raised shares of Adient from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Adient has a consensus rating of “Hold” and an average target price of $24.38.

Adient Trading Up 5.5 %

Shares of ADNT opened at $20.28 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.90 and a current ratio of 1.11. The stock has a 50-day moving average price of $20.91 and a 200 day moving average price of $23.06. The company has a market capitalization of $1.72 billion, a P/E ratio of 88.17, a P/E/G ratio of 0.32 and a beta of 2.18. Adient plc has a one year low of $18.53 and a one year high of $37.19.

Adient (NYSE:ADNT) last released its earnings results on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. Adient had a return on equity of 6.86% and a net margin of 0.12%. The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period last year, the business earned $0.51 earnings per share. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. Sell-side analysts forecast that Adient plc will post 2.04 EPS for the current fiscal year.

About Adient

Adient plc engages in the design, development, manufacture, and market of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's automotive seating solutions include complete seating systems, frames, mechanisms, foams, head restraints, armrests, and trim covers.