Crossmark Global Holdings Inc. reduced its stake in Adient plc (NYSE:ADNT – Free Report) by 6.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,565 shares of the company’s stock after selling 425 shares during the period. Crossmark Global Holdings Inc.’s holdings in Adient were worth $276,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ADNT. Raymond James Financial Services Advisors Inc. acquired a new position in Adient in the first quarter valued at approximately $214,000. Bank of Montreal Can boosted its stake in Adient by 45.3% in the first quarter. Bank of Montreal Can now owns 77,628 shares of the company’s stock valued at $3,169,000 after acquiring an additional 24,213 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Adient by 11.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,731 shares of the company’s stock worth $1,416,000 after buying an additional 3,493 shares during the period. BlackRock Inc. boosted its position in shares of Adient by 1.6% during the first quarter. BlackRock Inc. now owns 10,748,066 shares of the company’s stock worth $438,197,000 after buying an additional 167,887 shares during the period. Finally, Great West Life Assurance Co. Can acquired a new position in shares of Adient during the first quarter worth approximately $2,433,000. 91.39% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on ADNT. Wells Fargo & Company reduced their price objective on Adient from $48.00 to $45.00 in a research report on Monday, July 10th. StockNews.com began coverage on Adient in a research report on Thursday, October 5th. They set a “buy” rating for the company. Barclays boosted their price objective on Adient from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, August 3rd. TheStreet upgraded Adient from a “c” rating to a “b” rating in a research report on Wednesday, August 2nd. Finally, Benchmark boosted their target price on Adient from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $45.89.
Insider Buying and Selling at Adient
In other Adient news, EVP James Conklin sold 909 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $45.00, for a total value of $40,905.00. Following the transaction, the executive vice president now owns 18,021 shares of the company’s stock, valued at $810,945. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by corporate insiders.
Adient Price Performance
NYSE ADNT opened at $33.61 on Friday. The stock has a market capitalization of $3.18 billion, a P/E ratio of 27.78 and a beta of 2.78. Adient plc has a 1 year low of $31.96 and a 1 year high of $47.50. The business’s fifty day moving average is $37.01 and its two-hundred day moving average is $37.97. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.95 and a current ratio of 1.18.
Adient (NYSE:ADNT – Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.59. The company had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $3.87 billion. Adient had a return on equity of 8.40% and a net margin of 0.75%. The firm’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 earnings per share. On average, research analysts forecast that Adient plc will post 2.14 earnings per share for the current fiscal year.
Adient Profile
Adient plc, an investment holding company, 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.
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