Insider Selling: Adient (NYSE:ADNT) EVP Sells 699 Shares of Stock

Adient (NYSE:ADNT) EVP David Herberg sold 699 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $22.58, for a total value of $15,783.42. Following the sale, the executive vice president directly owned 40,122 shares in the company, valued at approximately $905,954.76. The trade was a 1.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Adient Stock Down 3.6%

ADNT stock traded down $0.83 during trading on Friday, reaching $22.01. 771,867 shares of the company traded hands, compared to its average volume of 1,027,206. Adient has a 12 month low of $15.86 and a 12 month high of $27.32. The business has a 50 day simple moving average of $21.41 and a 200 day simple moving average of $21.29. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 30.99, a price-to-earnings-growth ratio of 0.44 and a beta of 1.50. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.91 and a current ratio of 1.10.

Adient (NYSE:ADNT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. Adient had a return on equity of 7.28% and a net margin of 0.39%.The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter last year, the company earned $0.69 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities research analysts anticipate that Adient will post 2.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adient

Several institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its holdings in Adient by 19.4% in the first quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock worth $64,000 after acquiring an additional 517 shares in the last quarter. Glenmede Trust Co. NA acquired a new stake in Adient in the first quarter worth about $274,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Adient during the first quarter worth about $1,404,000. Bank of America Corp DE lifted its holdings in shares of Adient by 61.7% during the first quarter. Bank of America Corp DE now owns 792,543 shares of the company’s stock worth $16,017,000 after purchasing an additional 302,538 shares during the period. Finally, Amundi lifted its holdings in shares of Adient by 21.7% during the first quarter. Amundi now owns 143,022 shares of the company’s stock worth $2,890,000 after purchasing an additional 25,541 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ADNT shares. Stifel Nicolaus set a $28.00 price objective on Adient in a research report on Thursday, May 7th. Barclays raised their price objective on Adient from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Wells Fargo & Company lowered their price target on Adient from $29.00 to $28.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. UBS Group raised their price target on Adient from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Citigroup raised Adient from a “neutral” rating to a “buy” rating and raised their price target for the stock from $30.00 to $33.00 in a report on Wednesday, April 15th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Adient presently has a consensus rating of “Hold” and an average price target of $28.00.

About Adient

Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.