58,643 Shares in Adient $ADNT Acquired by Readystate Asset Management LP

Readystate Asset Management LP bought a new stake in Adient (NYSE:ADNT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 58,643 shares of the company’s stock, valued at approximately $1,078,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its position in Adient by 19.4% during the 1st quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock worth $64,000 after buying an additional 517 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Adient by 10.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,538 shares of the company’s stock worth $152,000 after acquiring an additional 705 shares in the last quarter. Corient Private Wealth LLC grew its holdings in Adient by 5.2% in the fourth quarter. Corient Private Wealth LLC now owns 18,117 shares of the company’s stock valued at $347,000 after purchasing an additional 899 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Adient by 1.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 92,947 shares of the company’s stock valued at $1,782,000 after acquiring an additional 1,065 shares in the last quarter. Finally, Inspire Investing LLC increased its stake in shares of Adient by 4.8% during the 1st quarter. Inspire Investing LLC now owns 25,814 shares of the company’s stock worth $522,000 after purchasing an additional 1,178 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ADNT shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $28.00 price target on shares of Adient in a report on Thursday, August 6th. Citigroup decreased their price objective on Adient from $33.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Morgan Stanley lowered their price objective on Adient from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 18th. Wall Street Zen lowered Adient from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings downgraded Adient from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 21st. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $26.60.

Insider Buying and Selling

In other Adient news, Director Peter Carlin sold 7,843 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $19.25, for a total transaction of $150,977.75. Following the completion of the sale, the director directly owned 38,835 shares in the company, valued at $747,573.75. The trade was a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.94% of the company’s stock.

Adient Trading Down 0.2%

ADNT stock opened at $19.97 on Tuesday. Adient has a 52 week low of $17.68 and a 52 week high of $27.32. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 0.40 and a beta of 1.52. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 1.18. The business has a fifty day simple moving average of $19.68 and a 200-day simple moving average of $20.91.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.08). The firm had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.71 billion. Adient had a return on equity of 7.32% and a net margin of 0.32%.The business’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 earnings per share. On average, equities research analysts expect that Adient will post 2.02 EPS for the current year.

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.