AlphaCrest Capital Management LLC grew its holdings in Adient plc (NYSE:ADNT – Get Rating) by 25.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,390 shares of the company’s stock after acquiring an additional 2,115 shares during the period. AlphaCrest Capital Management LLC’s holdings in Adient were worth $288,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in ADNT. Clear Street Markets LLC purchased a new position in Adient in the 3rd quarter worth approximately $28,000. Castleview Partners LLC purchased a new position in shares of Adient in the second quarter worth $85,000. US Bancorp DE boosted its position in shares of Adient by 16.7% during the third quarter. US Bancorp DE now owns 4,225 shares of the company’s stock worth $117,000 after acquiring an additional 604 shares during the last quarter. Ellevest Inc. grew its stake in Adient by 244.0% during the third quarter. Ellevest Inc. now owns 4,310 shares of the company’s stock valued at $120,000 after acquiring an additional 3,057 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Adient by 16.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,787 shares of the company’s stock valued at $188,000 after acquiring an additional 941 shares during the last quarter. Institutional investors own 93.20% of the company’s stock.
Adient Trading Down 4.6 %
ADNT opened at $40.63 on Friday. The firm has a market cap of $3.88 billion, a P/E ratio of -71.28 and a beta of 2.77. Adient plc has a 12 month low of $27.15 and a 12 month high of $47.50. The company has a current ratio of 1.20, a quick ratio of 0.91 and a debt-to-equity ratio of 1.05. The stock has a 50-day moving average of $42.55 and a 200 day moving average of $37.09.
Insider Buying and Selling at Adient
In other Adient news, CEO Douglas G. Delgrosso sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $40.33, for a total transaction of $2,016,500.00. Following the completion of the transaction, the chief executive officer now owns 617,757 shares in the company, valued at $24,914,139.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 50,300 shares of company stock worth $2,030,108 over the last 90 days. Company insiders own 1.10% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on ADNT shares. Wells Fargo & Company raised their price objective on Adient from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, February 8th. StockNews.com lowered Adient from a “buy” rating to a “hold” rating in a research report on Thursday, February 9th. Morgan Stanley raised their price objective on Adient from $29.00 to $35.00 and gave the company an “underweight” rating in a research report on Thursday, February 9th. Benchmark raised their price objective on Adient from $48.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, February 8th. Finally, Bank of America upgraded Adient from a “neutral” rating to a “buy” rating and raised their price objective for the company from $41.00 to $52.00 in a research report on Monday, January 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $46.11.
Adient Company Profile
Adient plc manufactures automotive seating systems. It operates through the following geographical segments: Americas, EMEA, and Asia. The company was founded in 1985 and is headquartered in Plymouth, MI.
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