Adient plc (NYSE:ADNT) Shares Sold by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC cut its position in shares of Adient plc (NYSE:ADNT - Free Report) by 28.4% during the third quarter, according to 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 period. 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 large investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its position in shares of Adient by 5.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,647 shares of the company's stock valued at $1,865,000 after purchasing an additional 2,687 shares during the last quarter. Boston Partners lifted its holdings in Adient by 12.2% during the 1st quarter. Boston Partners now owns 19,661 shares of the company's stock worth $647,000 after buying an additional 2,139 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Adient by 356.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 83,293 shares of the company's stock worth $2,058,000 after acquiring an additional 65,055 shares in the last quarter. CWM LLC increased its holdings in shares of Adient by 44.5% in the 2nd quarter. CWM LLC now owns 1,439 shares of the company's stock valued at $36,000 after acquiring an additional 443 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Adient by 7.7% during the second quarter. SG Americas Securities LLC now owns 31,979 shares of the company's stock worth $790,000 after purchasing an additional 2,296 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Adient Price Performance

NYSE:ADNT traded down $0.39 during mid-day trading on Tuesday, hitting $19.90. 1,061,491 shares of the company's stock traded hands, compared to its average volume of 1,407,878. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.90 and a current ratio of 1.11. The company has a market cap of $1.69 billion, a PE ratio of 86.52, a price-to-earnings-growth ratio of 0.34 and a beta of 2.15. The firm's 50 day simple moving average is $20.91 and its 200 day simple moving average is $23.06. Adient plc has a 1 year low of $18.53 and a 1 year high of $37.19.

Adient (NYSE:ADNT - Get Free Report) last issued its quarterly 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. Adient had a return on equity of 6.86% and a net margin of 0.12%. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the prior year, the company posted $0.51 EPS. The business's revenue for the quarter was down 3.7% compared to the same quarter last year. Sell-side analysts expect that Adient plc will post 2.04 EPS for the current year.

Wall Street Analyst Weigh In

ADNT has been the topic of a number of research analyst reports. Barclays cut their target price on Adient from $29.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price objective on shares of Adient from $31.00 to $27.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. Wolfe Research assumed coverage on shares of Adient in a research note on Thursday, September 5th. They issued a "peer perform" rating on the stock. StockNews.com raised Adient from a "hold" rating to a "buy" rating in a report on Monday, November 11th. Finally, Wells Fargo & Company lowered their target price on Adient from $29.00 to $27.00 and set an "overweight" rating on the stock in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $24.38.

Adient 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.