Adient plc (NYSE:ADNT) Shares Bought by Watershed Asset Management L.L.C.

Watershed Asset Management L.L.C. boosted its stake in shares of Adient plc (NYSE:ADNT) by 8.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,818 shares of the company’s stock after acquiring an additional 595 shares during the quarter. Watershed Asset Management L.L.C.’s holdings in Adient were worth $284,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ADNT. AQR Capital Management LLC raised its stake in shares of Adient by 407.3% during the 3rd quarter. AQR Capital Management LLC now owns 387,662 shares of the company’s stock worth $14,227,000 after buying an additional 311,245 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of Adient by 25.0% during the 3rd quarter. Pzena Investment Management LLC now owns 1,546,927 shares of the company’s stock worth $56,772,000 after buying an additional 309,359 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Adient by 12.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,486,307 shares of the company’s stock worth $91,247,000 after buying an additional 271,786 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Adient by 1,127.0% during the 3rd quarter. Federated Hermes Inc. now owns 173,065 shares of the company’s stock worth $6,351,000 after buying an additional 158,960 shares in the last quarter. Finally, Tudor Investment Corp Et Al raised its stake in shares of Adient by 129.8% during the 3rd quarter. Tudor Investment Corp Et Al now owns 263,538 shares of the company’s stock worth $9,672,000 after buying an additional 148,846 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Heather M. Tiltmann sold 10,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $33.68, for a total transaction of $336,800.00. Following the sale, the executive vice president now owns 55,669 shares in the company, valued at $1,874,931.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

Adient Price Performance

Adient stock traded down $0.04 during mid-day trading on Tuesday, hitting $28.95. 832,116 shares of the company were exchanged, compared to its average volume of 1,027,175. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.15 and a quick ratio of 0.91. The business’s 50 day simple moving average is $32.57 and its two-hundred day simple moving average is $33.65. The company has a market capitalization of $2.64 billion, a P/E ratio of 12.92, a PEG ratio of 0.30 and a beta of 2.51. Adient plc has a 12-month low of $27.73 and a 12-month high of $46.51.

Adient (NYSE:ADNT) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.16). The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Adient had a return on equity of 7.90% and a net margin of 1.39%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 EPS. Analysts forecast that Adient plc will post 2.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ADNT has been the subject of a number of analyst reports. Bank of America cut their target price on Adient from $50.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Barclays reissued an “equal weight” rating and set a $37.00 target price (down from $41.00) on shares of Adient in a research note on Wednesday, April 10th. Wells Fargo & Company dropped their price objective on Adient from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. dropped their price objective on Adient from $40.00 to $37.00 and set a “neutral” rating for the company in a research note on Monday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $42.43.

Adient Profile

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.