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

Principal Financial Group Inc. boosted its stake in Adient plc (NYSE:ADNT) by 36.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 411,199 shares of the company’s stock after acquiring an additional 109,850 shares during the quarter. Principal Financial Group Inc. owned 0.48% of Adient worth $9,281,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its holdings in shares of Adient by 85.4% in the third quarter. Franklin Resources Inc. now owns 59,694 shares of the company’s stock valued at $1,305,000 after purchasing an additional 27,491 shares in the last quarter. M&T Bank Corp bought a new stake in Adient in the 3rd quarter valued at approximately $357,000. Barclays PLC boosted its position in Adient by 127.0% during the 3rd quarter. Barclays PLC now owns 208,239 shares of the company’s stock worth $4,701,000 after acquiring an additional 116,518 shares during the last quarter. State Street Corp grew its stake in shares of Adient by 4.8% during the 3rd quarter. State Street Corp now owns 3,443,471 shares of the company’s stock worth $77,719,000 after acquiring an additional 158,017 shares in the last quarter. Finally, Readystate Asset Management LP raised its holdings in shares of Adient by 122.7% in the third quarter. Readystate Asset Management LP now owns 24,330 shares of the company’s stock valued at $549,000 after purchasing an additional 13,406 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP James Conklin sold 11,500 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $20.25, for a total transaction of $232,875.00. Following the transaction, the executive vice president now directly owns 51,829 shares of the company’s stock, valued at approximately $1,049,537.25. This trade represents a 18.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

ADNT has been the subject of a number of analyst reports. Morgan Stanley decreased their target price on shares of Adient from $21.00 to $19.00 and set an “underweight” rating for the company in a research report on Thursday, November 14th. StockNews.com raised Adient from a “hold” rating to a “buy” rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $24.00 price target on shares of Adient in a research report on Tuesday, September 10th. Wells Fargo & Company lowered Adient from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $27.00 to $20.00 in a research report on Monday, December 16th. Finally, Bank of America cut Adient from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $30.00 to $24.00 in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $23.50.

Adient Trading Down 1.4 %

Shares of Adient stock opened at $17.19 on Tuesday. Adient plc has a 1 year low of $16.43 and a 1 year high of $37.04. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 74.74, a P/E/G ratio of 0.32 and a beta of 2.15. The business has a fifty day simple moving average of $19.39 and a two-hundred day simple moving average of $21.73. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.11 and a quick ratio of 0.90.

Adient (NYSE:ADNT) last announced its earnings results on Friday, November 8th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.56 by $0.12. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.47 billion. Adient had a net margin of 0.12% and a return on equity of 6.86%. Adient’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 EPS. Research analysts forecast that Adient plc will post 2.04 EPS 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.