Saxon Interests Inc. Makes New $654,000 Investment in Adient $ADNT

Saxon Interests Inc. purchased a new stake in Adient (NYSE:ADNT) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 32,339 shares of the company’s stock, valued at approximately $654,000.

A number of other institutional investors also recently modified their holdings of the business. Leonteq Securities AG bought a new stake in shares of Adient during the 4th quarter worth $30,000. Quarry LP raised its stake in Adient by 163.9% during the third quarter. Quarry LP now owns 2,304 shares of the company’s stock worth $55,000 after acquiring an additional 1,431 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Adient during the second quarter worth about $63,000. Los Angeles Capital Management LLC bought a new position in shares of Adient in the fourth quarter worth about $64,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Adient in the fourth quarter worth about $96,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analyst Ratings Changes

ADNT has been the topic of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Adient from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. UBS Group boosted their target price on shares of Adient from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Stifel Nicolaus set a $28.00 price target on shares of Adient in a report on Thursday, May 7th. Citigroup upgraded Adient from a “neutral” rating to a “buy” rating and increased their price target for the company from $30.00 to $33.00 in a research note on Wednesday, April 15th. Finally, Barclays raised their price objective on Adient from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.22.

Adient Trading Down 0.9%

ADNT opened at $19.24 on Wednesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.10 and a quick ratio of 0.91. Adient has a fifty-two week low of $17.68 and a fifty-two week high of $27.32. The company’s 50 day moving average price is $21.27 and its two-hundred day moving average price is $21.54. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 0.38 and a beta of 1.53.

Adient (NYSE:ADNT) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.08. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.62 billion. Adient had a net margin of 0.39% and a return on equity of 7.28%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 earnings per share. As a group, research analysts predict that Adient will post 2.1 earnings per share for the current year.

Insider Transactions at Adient

In related news, EVP Heather M. Tiltmann sold 22,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $22.71, for a total transaction of $499,620.00. Following the completion of the transaction, the executive vice president directly owned 110,886 shares of the company’s stock, valued at $2,518,221.06. This trade represents a 16.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.94% of the stock is currently owned by corporate insiders.

Adient Company Profile

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.