Harbor Capital Advisors Inc. Sells 169,474 Shares of Adient $ADNT

Harbor Capital Advisors Inc. trimmed its holdings in Adient (NYSE:ADNT) by 69.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,178 shares of the company’s stock after selling 169,474 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.09% of Adient worth $1,762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of ADNT. Fifth Third Bancorp boosted its stake in Adient by 544.4% during the second quarter. Fifth Third Bancorp now owns 2,133 shares of the company’s stock worth $42,000 after acquiring an additional 1,802 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Adient by 991.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 2,182 shares of the company’s stock valued at $42,000 after purchasing an additional 1,982 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Adient by 13,957.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,671 shares of the company’s stock worth $52,000 after purchasing an additional 2,652 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Adient in the 2nd quarter worth approximately $63,000. Finally, IFP Advisors Inc grew its stake in shares of Adient by 68.4% in the 2nd quarter. IFP Advisors Inc now owns 3,988 shares of the company’s stock worth $78,000 after buying an additional 1,620 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ADNT. Barclays lowered their price objective on Adient from $27.00 to $24.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. JPMorgan Chase & Co. reduced their price target on Adient from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Wells Fargo & Company lowered their price target on Adient from $31.00 to $28.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Bank of America increased their price objective on shares of Adient from $17.50 to $20.00 and gave the company an “underperform” rating in a research report on Wednesday, September 10th. Finally, Morgan Stanley upgraded shares of Adient from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $17.00 to $20.00 in a research note on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Adient currently has an average rating of “Hold” and a consensus price target of $23.06.

Adient Trading Up 0.4%

Adient stock opened at $19.37 on Friday. Adient has a one year low of $10.04 and a one year high of $26.16. The business’s fifty day moving average is $20.41 and its 200 day moving average is $21.89. The stock has a market capitalization of $1.53 billion, a PE ratio of -5.80, a price-to-earnings-growth ratio of 0.64 and a beta of 1.63. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.12 and a quick ratio of 0.93.

Adient (NYSE:ADNT) last issued its earnings results on Wednesday, May 31st. The company reported ($0.13) earnings per share for the quarter. The business had revenue of $3.51 billion during the quarter. Adient had a positive return on equity of 7.81% and a negative net margin of 1.93%. On average, sell-side analysts predict that Adient will post 1.76 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Michel Pierre Rose Berthelin sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $19.71, for a total transaction of $49,275.00. Following the transaction, the executive vice president owned 116,425 shares in the company, valued at $2,294,736.75. This represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is currently owned by company insiders.

About Adient

Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.