State Street Corp Buys 158,017 Shares of Adient plc (NYSE:ADNT)

State Street Corp lifted its stake in Adient plc (NYSE:ADNT - Free Report) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,443,471 shares of the company's stock after purchasing an additional 158,017 shares during the quarter. State Street Corp owned 3.95% of Adient worth $77,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. CWM LLC increased its holdings in shares of Adient by 44.5% in the 2nd quarter. CWM LLC now owns 1,439 shares of the company's stock worth $36,000 after purchasing an additional 443 shares in the last quarter. US Bancorp DE boosted its position in shares of Adient by 583.8% during the third quarter. US Bancorp DE now owns 1,860 shares of the company's stock valued at $42,000 after buying an additional 1,588 shares during the last quarter. Signaturefd LLC increased its holdings in Adient by 493.8% in the 3rd quarter. Signaturefd LLC now owns 2,191 shares of the company's stock worth $49,000 after buying an additional 1,822 shares in the last quarter. KBC Group NV raised its position in Adient by 51.8% in the 3rd quarter. KBC Group NV now owns 3,328 shares of the company's stock worth $75,000 after buying an additional 1,136 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Adient by 23.2% during the 3rd quarter. Covestor Ltd now owns 5,482 shares of the company's stock valued at $124,000 after acquiring an additional 1,032 shares during the period. Institutional investors own 92.44% of the company's stock.

Insider Buying and Selling

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

Adient Stock Performance

Shares of ADNT stock traded up $0.25 during trading hours on Wednesday, reaching $17.85. 88,339 shares of the company traded hands, compared to its average volume of 1,221,974. The firm has a 50-day moving average price of $20.22 and a 200 day moving average price of $22.39. The company has a market cap of $1.51 billion, a P/E ratio of 76.52, a P/E/G ratio of 0.32 and a beta of 2.15. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.11 and a quick ratio of 0.90. Adient plc has a 12-month low of $17.20 and a 12-month high of $37.19.

Adient (NYSE:ADNT - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.12. The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.47 billion. Adient had a net margin of 0.12% and a return on equity of 6.86%. The company's revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. As a group, sell-side analysts predict that Adient plc will post 2.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ADNT has been the topic of several research reports. StockNews.com upgraded shares of Adient from a "hold" rating to a "buy" rating in a report on Monday, November 11th. Wolfe Research initiated coverage on Adient in a report on Thursday, September 5th. They issued a "peer perform" rating for the company. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $24.00 target price on shares of Adient in a report on Tuesday, September 10th. Wells Fargo & Company downgraded Adient from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $27.00 to $20.00 in a research note on Monday. Finally, Morgan Stanley lowered their price objective on shares of Adient from $21.00 to $19.00 and set an "underweight" rating on the stock in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Adient presently has an average rating of "Hold" and a consensus price target of $23.50.

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.