HITE Hedge Asset Management LLC Decreases Stock Holdings in Adient plc (NYSE:ADNT)

HITE Hedge Asset Management LLC cut its holdings in Adient plc (NYSE:ADNT) by 28.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 367,014 shares of the company’s stock after selling 145,689 shares during the quarter. HITE Hedge Asset Management LLC owned about 0.42% of Adient worth $8,284,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. CWM LLC lifted its holdings in Adient by 44.5% during the 2nd quarter. CWM LLC now owns 1,439 shares of the company’s stock valued at $36,000 after purchasing an additional 443 shares during the last quarter. US Bancorp DE raised its position in Adient by 583.8% in the 3rd quarter. US Bancorp DE now owns 1,860 shares of the company’s stock valued at $42,000 after buying an additional 1,588 shares during the last quarter. Signaturefd LLC grew its stake in shares of Adient by 493.8% during the 3rd quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock worth $49,000 after acquiring an additional 1,822 shares during the period. KBC Group NV boosted its position in shares of Adient by 51.8% during the 3rd quarter. KBC Group NV now owns 3,328 shares of the company’s stock valued at $75,000 after acquiring an additional 1,136 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Adient by 23.2% during the 3rd quarter. Covestor Ltd now owns 5,482 shares of the company’s stock valued at $124,000 after buying an additional 1,032 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Adient Stock Performance

NYSE ADNT opened at $20.28 on Tuesday. The stock’s 50 day simple moving average is $20.91 and its 200-day simple moving average is $23.06. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.11 and a quick ratio of 0.90. The company has a market cap of $1.72 billion, a PE ratio of 88.17, a price-to-earnings-growth ratio of 0.32 and a beta of 2.18. Adient plc has a 1-year low of $18.53 and a 1-year high of $37.19.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.12. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Adient had a net margin of 0.12% and a return on equity of 6.86%. The company’s revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 EPS. As a group, equities research analysts anticipate that Adient plc will post 2.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on ADNT shares. JPMorgan Chase & Co. reduced their price objective on Adient from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. StockNews.com upgraded Adient from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Wolfe Research started coverage on Adient in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Bank of America cut Adient from a “buy” rating to a “neutral” rating and cut their price target for the company from $30.00 to $24.00 in a research note on Thursday, November 21st. Finally, Wells Fargo & Company cut their price objective on shares of Adient from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $24.38.

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.