D. E. Shaw & Co. Inc. Purchases 525,280 Shares of Adient plc (NYSE:ADNT)

D. E. Shaw & Co. Inc. grew its position in shares of Adient plc (NYSE:ADNT) by 86.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,133,901 shares of the company’s stock after acquiring an additional 525,280 shares during the quarter. D. E. Shaw & Co. Inc. owned about 1.26% of Adient worth $28,019,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dark Forest Capital Management LP increased its holdings in shares of Adient by 1,922.1% in the 2nd quarter. Dark Forest Capital Management LP now owns 148,520 shares of the company’s stock worth $3,670,000 after buying an additional 141,175 shares during the last quarter. AQR Capital Management LLC increased its stake in Adient by 10.9% during the second quarter. AQR Capital Management LLC now owns 625,500 shares of the company’s stock worth $15,419,000 after acquiring an additional 61,665 shares during the last quarter. Squarepoint Ops LLC increased its stake in Adient by 64.4% during the second quarter. Squarepoint Ops LLC now owns 316,144 shares of the company’s stock worth $7,812,000 after acquiring an additional 123,863 shares during the last quarter. HITE Hedge Asset Management LLC raised its position in Adient by 125.3% during the second quarter. HITE Hedge Asset Management LLC now owns 512,703 shares of the company’s stock valued at $12,669,000 after purchasing an additional 285,104 shares during the period. Finally, Magnetar Financial LLC lifted its stake in shares of Adient by 30.1% in the 2nd quarter. Magnetar Financial LLC now owns 108,535 shares of the company’s stock valued at $2,682,000 after purchasing an additional 25,119 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADNT has been the topic of several recent research reports. UBS Group decreased their price target on Adient from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. BNP Paribas upgraded shares of Adient from an “underperform” rating to a “neutral” rating and set a $26.00 target price for the company in a report on Monday, July 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $24.00 price target on shares of Adient in a research note on Tuesday, September 10th. Wells Fargo & Company reduced their price objective on shares of Adient from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday, September 20th. Finally, Bank of America cut their target price on Adient from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Adient currently has an average rating of “Hold” and an average target price of $26.63.

Adient Stock Up 3.5 %

Shares of NYSE ADNT opened at $23.70 on Friday. Adient plc has a 52-week low of $19.40 and a 52-week high of $37.21. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 0.59 and a beta of 2.16. The stock has a 50 day moving average price of $22.43 and a 200 day moving average price of $26.35. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.87 and a current ratio of 1.08.

Adient (NYSE:ADNT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.82 billion. Adient had a return on equity of 6.34% and a net margin of 0.50%. Adient’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 EPS. Sell-side analysts expect that Adient plc will post 1.77 earnings per share for the current 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.