AlphaCrest Capital Management LLC Raises Stock Position in Adient plc (NYSE:ADNT)

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.

Adient (NYSE:ADNT – Get Rating) last announced its earnings results on Tuesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.06). Adient had a negative net margin of 0.38% and a positive return on equity of 3.21%. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter last year, the firm earned ($0.38) EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, research analysts forecast that Adient plc will post 1.98 EPS for the current year.

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

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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.