Renaissance Technologies LLC Purchases 250,500 Shares of Adient plc (NYSE:ADNT)

Renaissance Technologies LLC grew its stake in shares of Adient plc (NYSE:ADNT - Free Report) by 180.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 389,300 shares of the company's stock after purchasing an additional 250,500 shares during the quarter. Renaissance Technologies LLC owned approximately 0.46% of Adient worth $6,708,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Pzena Investment Management LLC grew its stake in Adient by 28.5% in the fourth quarter. Pzena Investment Management LLC now owns 3,629,452 shares of the company's stock worth $62,535,000 after purchasing an additional 803,961 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Adient during the 4th quarter valued at $11,395,000. JPMorgan Chase & Co. raised its stake in shares of Adient by 96.5% in the fourth quarter. JPMorgan Chase & Co. now owns 802,540 shares of the company's stock worth $13,828,000 after purchasing an additional 394,111 shares during the last quarter. Trexquant Investment LP boosted its position in shares of Adient by 169.0% during the fourth quarter. Trexquant Investment LP now owns 553,413 shares of the company's stock valued at $9,535,000 after buying an additional 347,695 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Adient by 22.0% in the 4th quarter. Invesco Ltd. now owns 1,414,041 shares of the company's stock worth $24,364,000 after buying an additional 254,951 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ADNT. StockNews.com downgraded shares of Adient from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Citigroup assumed coverage on shares of Adient in a research note on Wednesday. They set a "neutral" rating and a $14.00 target price on the stock. UBS Group dropped 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. JPMorgan Chase & Co. lowered their target price on shares of Adient from $24.00 to $21.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Finally, Bank of America downgraded Adient from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $24.00 to $18.00 in a research report on Tuesday, March 4th. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $18.44.

Adient Trading Up 3.8 %

Shares of Adient stock traded up $0.46 on Thursday, reaching $12.66. The company had a trading volume of 190,935 shares, compared to its average volume of 1,395,754. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.08 and a quick ratio of 0.86. Adient plc has a 1 year low of $10.04 and a 1 year high of $31.19. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 631.50, a P/E/G ratio of 0.34 and a beta of 1.97. The firm's 50-day moving average price is $13.67 and its two-hundred day moving average price is $17.08.

Adient (NYSE:ADNT - Get Free Report) last issued 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 period in the prior year, the business earned $0.31 EPS. As a group, research analysts predict that Adient plc will post 1.76 earnings per share for the current fiscal year.

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.