HITE Hedge Asset Management LLC Has $8.28 Million Stake in Adient plc (NYSE:ADNT)

HITE Hedge Asset Management LLC lessened its holdings in Adient plc (NYSE:ADNT - Free Report) by 28.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 367,014 shares of the company's stock after selling 145,689 shares during the quarter. HITE Hedge Asset Management LLC owned approximately 0.42% of Adient worth $8,284,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. CWM LLC boosted its holdings in Adient by 44.5% during the second quarter. CWM LLC now owns 1,439 shares of the company's stock worth $36,000 after buying an additional 443 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in Adient by 3.2% during the second quarter. SummerHaven Investment Management LLC now owns 18,167 shares of the company's stock valued at $449,000 after buying an additional 556 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Adient by 23.2% in the third quarter. Covestor Ltd now owns 5,482 shares of the company's stock worth $124,000 after buying an additional 1,032 shares during the period. KBC Group NV raised its holdings in shares of Adient by 51.8% during the third quarter. KBC Group NV now owns 3,328 shares of the company's stock valued at $75,000 after acquiring an additional 1,136 shares during the period. Finally, US Bancorp DE lifted its position in shares of Adient by 583.8% in the 3rd quarter. US Bancorp DE now owns 1,860 shares of the company's stock valued at $42,000 after acquiring an additional 1,588 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Barclays lowered their price target on Adient from $29.00 to $24.00 and set an "equal weight" rating on the stock in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $24.00 price objective on shares of Adient in a research report on Tuesday, September 10th. JPMorgan Chase & Co. dropped their price target on shares of Adient from $31.00 to $27.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. StockNews.com raised Adient from a "hold" rating to a "buy" rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company reduced their price target on Adient from $29.00 to $27.00 and set an "overweight" rating for the company in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Adient presently has an average rating of "Hold" and an average price target of $24.38.

Adient Stock Performance

Shares of NYSE ADNT traded down $0.39 during trading hours on Tuesday, hitting $19.90. 1,061,491 shares of the stock were exchanged, compared to its average volume of 1,407,878. The firm has a market capitalization of $1.69 billion, a P/E ratio of 86.52, a P/E/G ratio of 0.34 and a beta of 2.15. The company's 50 day moving average is $20.91 and its 200 day moving average is $23.06. Adient plc has a one year low of $18.53 and a one year high of $37.19. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.11 and a quick ratio of 0.90.

Adient (NYSE:ADNT - Get Free Report) last released its earnings results on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.12. The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.47 billion. Adient had a return on equity of 6.86% and a net margin of 0.12%. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the business earned $0.51 earnings per share. On average, research analysts expect that Adient plc will post 2.04 EPS for the current year.

Adient Company Profile

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.