Greenwich Wealth Management LLC Boosts Holdings in Adient PLC (NYSE:ADNT)
Greenwich Wealth Management LLC grew its position in shares of Adient PLC (NYSE:ADNT) by 1.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,150 shares of the company’s stock after purchasing an additional 550 shares during the period. Greenwich Wealth Management LLC’s holdings in Adient were worth $1,023,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Adient in the second quarter worth $55,463,000. Parametric Portfolio Associates LLC raised its position in Adient by 14.1% in the second quarter. Parametric Portfolio Associates LLC now owns 523,294 shares of the company’s stock worth $12,700,000 after acquiring an additional 64,508 shares in the last quarter. RBF Capital LLC bought a new stake in Adient in the second quarter worth about $364,000. Glen Harbor Capital Management LLC increased its stake in Adient by 2.2% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 20,570 shares of the company’s stock worth $499,000 after purchasing an additional 442 shares in the last quarter. Finally, Commonwealth Bank of Australia increased its stake in Adient by 70.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 44,213 shares of the company’s stock worth $1,072,000 after purchasing an additional 18,300 shares in the last quarter. Institutional investors own 97.90% of the company’s stock.
NYSE ADNT traded down $0.72 during midday trading on Thursday, hitting $25.18. The company had a trading volume of 44,716 shares, compared to its average volume of 2,120,952. The company has a market capitalization of $2.42 billion, a PE ratio of 4.50 and a beta of 3.22. The company has a current ratio of 1.07, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65. The firm has a 50-day moving average price of $22.48 and a 200-day moving average price of $20.41. Adient PLC has a twelve month low of $12.15 and a twelve month high of $45.17.
ADNT has been the topic of several research analyst reports. UBS Group cut Adient from a “buy” rating to a “neutral” rating and lowered their target price for the company from $30.00 to $27.00 in a research note on Thursday. Morgan Stanley set a $12.00 target price on Adient and gave the stock a “sell” rating in a report on Wednesday, June 26th. Credit Suisse Group initiated coverage on Adient in a report on Wednesday, June 26th. They issued a “neutral” rating and a $24.00 target price for the company. Finally, ValuEngine upgraded Adient from a “sell” rating to a “hold” rating in a report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $22.20.
Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. It operates through three segments: Seating, Seat Structures and Mechanisms (SS&M), and Interiors. The Seating segment produces seat systems for automotive and other mobility applications, as well as various components of seat systems, including foams, trims, and fabrics.
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