Federated Hermes Inc. Raises Position in Adient plc (NYSE:ADNT)

Federated Hermes Inc. grew its position in Adient plc (NYSE:ADNT) by 20.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 208,182 shares of the company’s stock after acquiring an additional 35,117 shares during the period. Federated Hermes Inc. owned about 0.23% of Adient worth $7,569,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ADNT. Headlands Technologies LLC purchased a new stake in shares of Adient in the third quarter valued at about $46,000. AM Squared Ltd acquired a new stake in shares of Adient in the third quarter valued at about $106,000. Dark Forest Capital Management LP acquired a new stake in shares of Adient in the third quarter valued at about $205,000. Handelsinvest Investeringsforvaltning acquired a new stake in shares of Adient in the fourth quarter valued at about $207,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Adient by 20.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,743 shares of the company’s stock valued at $211,000 after purchasing an additional 962 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Insider Activity at Adient

In related news, EVP Heather M. Tiltmann sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $33.68, for a total transaction of $336,800.00. Following the transaction, the executive vice president now owns 55,669 shares of the company’s stock, valued at $1,874,931.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Adient Stock Performance

Shares of ADNT opened at $29.68 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.91 and a current ratio of 1.15. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 0.30 and a beta of 2.51. The company’s 50 day simple moving average is $32.49 and its 200 day simple moving average is $33.62. Adient plc has a 1 year low of $27.73 and a 1 year high of $46.51.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.16). The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Adient had a net margin of 1.39% and a return on equity of 7.90%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS. On average, sell-side analysts predict that Adient plc will post 2.57 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays reiterated an “equal weight” rating and issued a $37.00 price objective (down previously from $41.00) on shares of Adient in a research note on Wednesday, April 10th. Wells Fargo & Company reduced their price objective on shares of Adient from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, February 8th. JPMorgan Chase & Co. reduced their price objective on shares of Adient from $40.00 to $37.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Bank of America cut their target price on shares of Adient from $50.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Adient has a consensus rating of “Hold” and an average target price of $42.43.

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.