AQR Capital Management LLC Has $15.42 Million Position in Adient plc (NYSE:ADNT)

AQR Capital Management LLC lifted its holdings in Adient plc (NYSE:ADNT - Free Report) by 10.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 625,500 shares of the company's stock after buying an additional 61,665 shares during the quarter. AQR Capital Management LLC owned about 0.70% of Adient worth $15,419,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ADNT. Janney Montgomery Scott LLC acquired a new position in Adient during the 4th quarter worth $499,000. Norges Bank acquired a new position in shares of Adient during the fourth quarter valued at $18,040,000. Hsbc Holdings PLC boosted its holdings in Adient by 59.0% in the fourth quarter. Hsbc Holdings PLC now owns 92,715 shares of the company's stock valued at $3,368,000 after acquiring an additional 34,421 shares during the last quarter. Elm Ridge Management LLC increased its position in Adient by 19.2% in the fourth quarter. Elm Ridge Management LLC now owns 97,109 shares of the company's stock worth $3,531,000 after purchasing an additional 15,610 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in Adient by 5.4% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 4,469,049 shares of the company's stock worth $162,495,000 after purchasing an additional 229,963 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADNT. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $24.00 target price on shares of Adient in a research note on Tuesday, September 10th. Wolfe Research initiated coverage on shares of Adient in a research note on Thursday, September 5th. They issued a "peer perform" rating on the stock. Bank of America dropped their target price on shares of Adient from $42.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, July 22nd. Morgan Stanley cut their price target on Adient from $32.00 to $21.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. decreased their price objective on Adient from $31.00 to $27.00 and set a "neutral" rating for the company in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Adient has a consensus rating of "Hold" and an average price target of $26.63.

Adient Trading Down 0.8 %

Adient stock traded down $0.17 during mid-day trading on Wednesday, hitting $22.16. 859,890 shares of the company's stock were exchanged, compared to its average volume of 1,260,470. The company's 50 day simple moving average is $22.32 and its 200-day simple moving average is $26.09. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $1.99 billion, a P/E ratio of 13.71, a PEG ratio of 0.59 and a beta of 2.16. Adient plc has a fifty-two week low of $19.40 and a fifty-two week high of $37.19.

Adient (NYSE:ADNT - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.30). Adient had a net margin of 0.50% and a return on equity of 6.34%. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same quarter last year, the company earned $0.98 EPS. The firm's quarterly revenue was down 8.4% compared to the same quarter last year. On average, equities analysts anticipate that Adient plc will post 1.77 earnings per share 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.