JPMorgan Chase & Co. Cuts Stock Holdings in Adient $ADNT

JPMorgan Chase & Co. lessened its holdings in Adient (NYSE:ADNT) by 9.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,323,011 shares of the company’s stock after selling 139,151 shares during the period. JPMorgan Chase & Co. owned about 1.67% of Adient worth $31,858,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADNT. Teacher Retirement System of Texas increased its holdings in Adient by 441.0% during the third quarter. Teacher Retirement System of Texas now owns 69,085 shares of the company’s stock valued at $1,664,000 after buying an additional 56,316 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Adient by 439.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,171,695 shares of the company’s stock worth $22,801,000 after buying an additional 954,441 shares during the period. Texas Permanent School Fund Corp boosted its position in Adient by 241.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 146,486 shares of the company’s stock valued at $2,851,000 after acquiring an additional 103,603 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Adient by 921.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 812,329 shares of the company’s stock valued at $19,561,000 after acquiring an additional 732,837 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in shares of Adient by 558.3% in the 2nd quarter. Squarepoint Ops LLC now owns 225,612 shares of the company’s stock valued at $4,390,000 after acquiring an additional 191,341 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Adient Price Performance

Shares of NYSE ADNT opened at $19.56 on Monday. Adient has a 52 week low of $10.04 and a 52 week high of $27.32. The business’s 50 day moving average price is $22.87 and its 200 day moving average price is $22.04. The company has a quick ratio of 0.88, a current ratio of 1.09 and a debt-to-equity ratio of 1.17. The firm has a market cap of $1.53 billion, a P/E ratio of -5.40, a P/E/G ratio of 0.43 and a beta of 1.55.

Adient (NYSE:ADNT) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.16. The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.45 billion. Adient had a negative net margin of 2.06% and a positive return on equity of 8.18%. Adient’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the firm posted $0.27 EPS. On average, sell-side analysts expect that Adient will post 1.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ADNT. Wall Street Zen upgraded Adient from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Morgan Stanley boosted their target price on shares of Adient from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Weiss Ratings restated a “sell (d)” rating on shares of Adient in a report on Wednesday, January 21st. Citigroup lifted their price objective on shares of Adient from $22.50 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Finally, UBS Group boosted their price objective on shares of Adient from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $27.67.

Adient Profile

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.