Principal Financial Group Inc. Acquires 109,850 Shares of Adient plc (NYSE:ADNT)

Principal Financial Group Inc. lifted its holdings in Adient plc (NYSE:ADNT - Free Report) by 36.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 411,199 shares of the company's stock after buying an additional 109,850 shares during the period. Principal Financial Group Inc. owned approximately 0.46% of Adient worth $9,281,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC increased its stake in Adient by 44.5% in the second 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. US Bancorp DE boosted its holdings in shares of Adient by 583.8% during the third quarter. US Bancorp DE now owns 1,860 shares of the company's stock worth $42,000 after purchasing an additional 1,588 shares during the period. Signaturefd LLC boosted its holdings in shares of Adient by 493.8% during the third quarter. Signaturefd LLC now owns 2,191 shares of the company's stock worth $49,000 after purchasing an additional 1,822 shares during the period. Covestor Ltd boosted its holdings in shares of Adient by 201.5% during the first quarter. Covestor Ltd now owns 3,307 shares of the company's stock worth $109,000 after purchasing an additional 2,210 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in shares of Adient during the first quarter worth about $135,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

Adient Price Performance

NYSE ADNT traded down $0.45 during trading hours on Tuesday, reaching $19.30. The company's stock had a trading volume of 446,683 shares, compared to its average volume of 1,231,885. Adient plc has a fifty-two week low of $19.05 and a fifty-two week high of $37.19. The stock has a market cap of $1.68 billion, a PE ratio of 85.87, a PEG ratio of 0.46 and a beta of 2.18. The company's 50-day moving average is $21.32 and its two-hundred day moving average is $23.80. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.90 and a current ratio of 1.11.

Adient (NYSE:ADNT - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.12. Adient had a net margin of 0.12% and a return on equity of 6.86%. The firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. The firm's revenue was down 3.7% on a year-over-year basis. Analysts forecast that Adient plc will post 2.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on ADNT shares. Morgan Stanley lowered their price objective on shares of Adient from $21.00 to $19.00 and set an "underweight" rating for the company in a report on Thursday, November 14th. Barclays decreased their target price on shares of Adient from $29.00 to $24.00 and set an "equal weight" rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their target price on shares of Adient from $31.00 to $27.00 and set a "neutral" rating for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $24.00 target price on shares of Adient in a research note on Tuesday, September 10th. Finally, StockNews.com raised shares of Adient from a "hold" rating to a "buy" rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Adient currently has an average rating of "Hold" and a consensus price target of $25.13.

About Adient

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.