JPMorgan Chase & Co. Lowers Stake in Adient plc (NYSE:ADNT)

JPMorgan Chase & Co. lowered its stake in shares of Adient plc (NYSE:ADNT) by 31.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 408,429 shares of the company’s stock after selling 183,852 shares during the period. JPMorgan Chase & Co. owned approximately 0.48% of Adient worth $9,218,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ADNT. Pacer Advisors Inc. boosted its position in Adient by 38,074.9% in the 3rd quarter. Pacer Advisors Inc. now owns 5,144,445 shares of the company’s stock valued at $116,110,000 after buying an additional 5,130,969 shares during the period. Pzena Investment Management LLC boosted its position in Adient by 45.0% in the 3rd quarter. Pzena Investment Management LLC now owns 2,825,491 shares of the company’s stock valued at $63,771,000 after buying an additional 877,142 shares during the period. D. E. Shaw & Co. Inc. lifted its position in shares of Adient by 86.3% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,133,901 shares of the company’s stock worth $28,019,000 after purchasing an additional 525,280 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Adient by 9.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,197,090 shares of the company’s stock worth $117,298,000 after purchasing an additional 442,200 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in shares of Adient during the 3rd quarter worth $6,653,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Insider Buying and Selling

In related news, EVP James Conklin sold 11,500 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $20.25, for a total transaction of $232,875.00. Following the completion of the sale, the executive vice president now directly owns 51,829 shares of the company’s stock, valued at $1,049,537.25. This trade represents a 18.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Adient Trading Up 2.4 %

Shares of ADNT stock opened at $17.06 on Tuesday. The company has a market capitalization of $1.45 billion, a P/E ratio of 74.17, a price-to-earnings-growth ratio of 0.32 and a beta of 2.16. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.98. The business’s 50 day moving average is $18.67 and its two-hundred day moving average is $21.16. Adient plc has a twelve month low of $16.28 and a twelve month high of $36.04.

Adient (NYSE:ADNT) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $3.47 billion. During the same period last year, the company earned $0.51 earnings per share. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. Equities analysts forecast that Adient plc will post 2.04 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on ADNT. Wells Fargo & Company cut shares of Adient from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $27.00 to $20.00 in a research report on Monday, December 16th. Bank of America lowered shares of Adient from a “buy” rating to a “neutral” rating and cut their price target for the stock from $30.00 to $24.00 in a research note on Thursday, November 21st. Morgan Stanley cut their price target on shares of Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a research note on Thursday, November 14th. Finally, StockNews.com upgraded shares of Adient from a “hold” rating to a “buy” rating in a research note on Saturday, December 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Adient presently has a consensus rating of “Hold” and a consensus target price of $23.50.

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.