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

Principal Financial Group Inc. boosted its stake in shares of Adient plc (NYSE:ADNT - Free Report) by 36.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 411,199 shares of the company's stock after buying an additional 109,850 shares during the quarter. Principal Financial Group Inc. owned approximately 0.48% of Adient worth $9,281,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ADNT. Franklin Resources Inc. lifted its stake in Adient by 85.4% in the third quarter. Franklin Resources Inc. now owns 59,694 shares of the company's stock valued at $1,305,000 after buying an additional 27,491 shares during the period. M&T Bank Corp bought a new position in Adient during the third quarter worth $357,000. Barclays PLC grew its holdings in Adient by 127.0% in the third quarter. Barclays PLC now owns 208,239 shares of the company's stock worth $4,701,000 after purchasing an additional 116,518 shares during the period. State Street Corp increased its stake in Adient by 4.8% in the third quarter. State Street Corp now owns 3,443,471 shares of the company's stock valued at $77,719,000 after purchasing an additional 158,017 shares in the last quarter. Finally, Readystate Asset Management LP raised its holdings in shares of Adient by 122.7% during the third quarter. Readystate Asset Management LP now owns 24,330 shares of the company's stock valued at $549,000 after purchasing an additional 13,406 shares during the period. Institutional investors own 92.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ADNT shares. Wells Fargo & Company downgraded Adient from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $27.00 to $20.00 in a research note on Monday, December 16th. Wolfe Research initiated coverage on Adient in a research note on Thursday, September 5th. They issued a "peer perform" rating for the company. Bank of America cut shares of Adient from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $30.00 to $24.00 in a report on Thursday, November 21st. StockNews.com raised shares of Adient from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $24.00 target price on shares of Adient in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Adient currently has a consensus rating of "Hold" and a consensus price target of $23.50.

Adient Price Performance

NYSE ADNT traded up $0.04 on Tuesday, hitting $17.23. The stock had a trading volume of 525,512 shares, compared to its average volume of 1,222,128. The firm has a 50-day moving average of $19.30 and a 200-day moving average of $21.68. 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 plc has a 52-week low of $16.43 and a 52-week high of $37.04. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 74.91, a price-to-earnings-growth ratio of 0.32 and a beta of 2.15.

Adient (NYSE:ADNT - Get Free Report) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.68 earnings per share (EPS) 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 the consensus estimate of $3.47 billion. During the same quarter last year, the business posted $0.51 earnings per share. The firm's revenue was down 3.7% compared to the same quarter last year. Equities analysts expect that Adient plc will post 2.04 EPS for the current year.

Insider Activity at Adient

In related news, EVP James Conklin sold 11,500 shares of Adient stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $20.25, for a total value of $232,875.00. Following the transaction, the executive vice president now owns 51,829 shares in the company, valued at $1,049,537.25. This trade represents a 18.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by insiders.

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.