Saxon Interests Inc. Purchases New Stake in Adient $ADNT

Saxon Interests Inc. acquired a new position in shares of Adient (NYSE:ADNT) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 32,339 shares of the company’s stock, valued at approximately $654,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADNT. Leonteq Securities AG bought a new position in shares of Adient in the fourth quarter valued at about $30,000. Quarry LP boosted its holdings in shares of Adient by 163.9% during the 3rd quarter. Quarry LP now owns 2,304 shares of the company’s stock worth $55,000 after buying an additional 1,431 shares during the period. Raymond James Financial Inc. acquired a new position in Adient in the 2nd quarter valued at about $63,000. Los Angeles Capital Management LLC bought a new position in Adient in the 4th quarter valued at about $64,000. Finally, Kestra Advisory Services LLC acquired a new stake in Adient during the fourth quarter worth approximately $96,000. 92.44% of the stock is owned by institutional investors.

Insider Activity at Adient

In related news, EVP Heather M. Tiltmann sold 22,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $22.71, for a total value of $499,620.00. Following the transaction, the executive vice president owned 110,886 shares in the company, valued at approximately $2,518,221.06. This trade represents a 16.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.94% of the company’s stock.

Adient Stock Down 0.9%

NYSE ADNT opened at $19.24 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 1.18. Adient has a 1-year low of $17.68 and a 1-year high of $27.32. The company has a 50 day moving average of $21.27 and a 200-day moving average of $21.54. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 0.38 and a beta of 1.53.

Adient (NYSE:ADNT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.62 billion. Adient had a return on equity of 7.28% and a net margin of 0.39%.The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.69 EPS. On average, equities research analysts expect that Adient will post 2.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on ADNT shares. Wells Fargo & Company upped their target price on Adient from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Stifel Nicolaus set a $28.00 price target on Adient in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reduced their price target on Adient from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Monday. Barclays upped their price objective on Adient from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Finally, Weiss Ratings raised Adient from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $28.22.

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.