Principal Financial Group Inc. Acquires 109,850 Shares of Adient plc (NYSE:ADNT)

Principal Financial Group Inc. lifted its holdings in shares of Adient plc (NYSE:ADNT) by 36.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 411,199 shares of the company’s stock after purchasing an additional 109,850 shares during the period. Principal Financial Group Inc. owned 0.46% of Adient worth $9,281,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADNT. Magnetar Financial LLC bought a new stake in Adient during the 1st quarter worth about $2,746,000. Harbor Capital Advisors Inc. grew its stake in shares of Adient by 356.7% during the second quarter. Harbor Capital Advisors Inc. now owns 83,293 shares of the company’s stock valued at $2,058,000 after purchasing an additional 65,055 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in shares of Adient by 85.8% in the second quarter. Susquehanna Fundamental Investments LLC now owns 152,940 shares of the company’s stock valued at $3,779,000 after purchasing an additional 70,611 shares in the last quarter. Janus Henderson Group PLC raised its position in Adient by 48.5% in the 1st quarter. Janus Henderson Group PLC now owns 697,303 shares of the company’s stock worth $22,955,000 after purchasing an additional 227,810 shares during the last quarter. Finally, HITE Hedge Asset Management LLC lifted its holdings in Adient by 125.3% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 512,703 shares of the company’s stock worth $12,669,000 after buying an additional 285,104 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Adient Price Performance

Shares of ADNT stock opened at $19.75 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.98. Adient plc has a 12-month low of $19.30 and a 12-month high of $37.19. The firm has a fifty day moving average of $21.32 and a 200-day moving average of $23.80. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 85.87, a price-to-earnings-growth ratio of 0.46 and a beta of 2.18.

Adient (NYSE:ADNT) last posted its earnings results on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.12. Adient had a return on equity of 6.86% and a net margin of 0.12%. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, equities research analysts forecast that Adient plc will post 2.27 earnings per share for the current year.

Analysts Set New Price Targets

ADNT has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $24.00 target price on shares of Adient in a research report on Tuesday, September 10th. Wells Fargo & Company reduced their target price on shares of Adient from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. Bank of America dropped their price target on shares of Adient from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, October 14th. StockNews.com upgraded shares of Adient from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Adient from $31.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $25.13.

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.