JPMorgan Chase & Co. Purchases 394,111 Shares of Adient plc (NYSE:ADNT)

JPMorgan Chase & Co. lifted its holdings in shares of Adient plc (NYSE:ADNT - Free Report) by 96.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 802,540 shares of the company's stock after buying an additional 394,111 shares during the quarter. JPMorgan Chase & Co. owned about 0.96% of Adient worth $13,828,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Pzena Investment Management LLC lifted its position in shares of 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 in the last quarter. Quantbot Technologies LP raised its stake in shares of Adient by 263.6% during the 4th quarter. Quantbot Technologies LP now owns 80,294 shares of the company's stock valued at $1,383,000 after purchasing an additional 58,209 shares during the period. Principal Financial Group Inc. raised its stake in shares of Adient by 36.5% during the 3rd quarter. Principal Financial Group Inc. now owns 411,199 shares of the company's stock valued at $9,281,000 after purchasing an additional 109,850 shares during the period. IFP Advisors Inc lifted its holdings in Adient by 6,924.2% during the 4th quarter. IFP Advisors Inc now owns 2,318 shares of the company's stock worth $40,000 after purchasing an additional 2,285 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in Adient by 5.1% in the 4th quarter. Empowered Funds LLC now owns 309,891 shares of the company's stock worth $5,339,000 after purchasing an additional 15,109 shares during the period. 92.44% of the stock is owned by institutional investors.

Remove Ads

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of Adient from $24.00 to $21.00 and set a "neutral" rating on the stock in a report on Monday, January 27th. Morgan Stanley lowered their target price on shares of Adient from $19.00 to $17.00 and set an "underweight" rating on the stock in a research note on Monday, March 3rd. UBS Group reduced their price target on shares of Adient from $20.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Bank of America downgraded Adient from a "neutral" rating to an "underperform" rating and lowered their price objective for the stock from $24.00 to $18.00 in a research report on Tuesday, March 4th. Finally, StockNews.com upgraded Adient from a "hold" rating to a "buy" rating in a research report on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $19.00.

Adient Stock Down 0.9 %

Shares of ADNT stock traded down $0.10 during trading hours on Wednesday, hitting $10.79. 561,673 shares of the company's stock traded hands, compared to its average volume of 1,391,006. The stock's fifty day simple moving average is $14.33 and its two-hundred day simple moving average is $17.49. The stock has a market cap of $905.64 million, a price-to-earnings ratio of 539.50, a PEG ratio of 0.34 and a beta of 1.97. Adient plc has a 12-month low of $10.04 and a 12-month high of $31.19. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.11.

Adient (NYSE:ADNT - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.05). Adient had a positive return on equity of 6.94% and a negative net margin of 0.01%. During the same quarter in the prior year, the firm posted $0.31 earnings per share. On average, analysts expect that Adient plc will post 1.76 EPS for the current year.

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.