Northern Trust Corp Acquires 72,077 Shares of Adient plc (NYSE:ADNT)

Northern Trust Corp raised its holdings in shares of Adient plc (NYSE:ADNT) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,129,645 shares of the company’s stock after buying an additional 72,077 shares during the quarter. Northern Trust Corp owned about 1.35% of Adient worth $19,464,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Pzena Investment Management LLC increased its position in Adient by 28.5% during the fourth quarter. Pzena Investment Management LLC now owns 3,629,452 shares of the company’s stock worth $62,535,000 after acquiring an additional 803,961 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Adient in the 4th quarter worth $11,395,000. HITE Hedge Asset Management LLC increased its holdings in shares of Adient by 122.4% during the 4th quarter. HITE Hedge Asset Management LLC now owns 816,286 shares of the company’s stock worth $14,065,000 after purchasing an additional 449,272 shares during the period. JPMorgan Chase & Co. raised its position in shares of Adient by 96.5% during the fourth quarter. JPMorgan Chase & Co. now owns 802,540 shares of the company’s stock valued at $13,828,000 after buying an additional 394,111 shares during the last quarter. Finally, Trexquant Investment LP raised its position in shares of Adient by 169.0% during the fourth quarter. Trexquant Investment LP now owns 553,413 shares of the company’s stock valued at $9,535,000 after buying an additional 347,695 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

Adient Stock Up 1.7%

ADNT opened at $15.87 on Wednesday. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 793.50, a PEG ratio of 0.34 and a beta of 1.60. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.86 and a current ratio of 1.08. The firm’s 50-day simple moving average is $12.84 and its 200-day simple moving average is $16.25. Adient plc has a twelve month low of $10.04 and a twelve month high of $30.29.

Adient (NYSE:ADNT) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.33. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Adient had a negative net margin of 0.01% and a positive return on equity of 6.94%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 earnings per share. Equities research analysts anticipate that Adient plc will post 1.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ADNT shares. Citigroup began coverage on Adient in a research note on Wednesday, April 23rd. They set a “neutral” rating and a $14.00 price target on the stock. Barclays cut Adient from an “equal weight” rating to a “negative” rating in a research report on Tuesday, April 15th. StockNews.com raised Adient from a “hold” rating to a “buy” rating in a research report on Saturday, April 26th. UBS Group boosted their price target on shares of Adient from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Finally, Wells Fargo & Company increased their price objective on shares of Adient from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $18.00.

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.