Edgestream Partners L.P. Sells 36,230 Shares of Adient $ADNT

Edgestream Partners L.P. lowered its holdings in shares of Adient (NYSE:ADNT) by 11.1% during the 1st quarter, HoldingsChannel reports. The fund owned 291,060 shares of the company’s stock after selling 36,230 shares during the period. Edgestream Partners L.P.’s holdings in Adient were worth $5,882,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADNT. Amundi increased its stake in shares of Adient by 21.7% during the first quarter. Amundi now owns 143,022 shares of the company’s stock valued at $2,890,000 after purchasing an additional 25,541 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Adient by 25.6% during the first quarter. California State Teachers Retirement System now owns 94,922 shares of the company’s stock valued at $1,918,000 after purchasing an additional 19,364 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Adient by 23.5% in the 1st quarter. Empowered Funds LLC now owns 554,572 shares of the company’s stock worth $11,208,000 after purchasing an additional 105,435 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Adient by 3.9% in the 1st quarter. Quantinno Capital Management LP now owns 63,167 shares of the company’s stock worth $1,277,000 after purchasing an additional 2,374 shares in the last quarter. Finally, Lombard Odier Asset Management USA Corp purchased a new stake in shares of Adient in the 1st quarter worth approximately $550,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Barclays raised their price objective on Adient from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. dropped their target price on Adient from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. UBS Group increased their target price on Adient from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Weiss Ratings upgraded Adient from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Finally, Stifel Nicolaus lowered their price target on Adient from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.90.

Adient Price Performance

ADNT opened at $21.93 on Friday. The company’s 50-day simple moving average is $20.86 and its two-hundred day simple moving average is $21.63. 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 $1.72 billion, a P/E ratio of 30.88, a P/E/G ratio of 0.42 and a beta of 1.53. Adient has a 52-week low of $17.68 and a 52-week high of $27.32.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.52 EPS for the quarter, topping 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 firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.62 billion. During the same period in the previous year, the business posted $0.69 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, analysts predict that Adient will post 2.13 EPS for the current year.

Insider Transactions at Adient

In related news, EVP Heather M. Tiltmann sold 22,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $22.71, for a total value of $499,620.00. Following the sale, 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 SEC, which can be accessed through the SEC website. Corporate insiders own 0.94% of the company’s stock.

About Adient

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.