Empowered Funds LLC Raises Stock Holdings in Adient $ADNT

Empowered Funds LLC boosted its position in shares of Adient (NYSE:ADNT) by 23.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 554,572 shares of the company’s stock after acquiring an additional 105,435 shares during the quarter. Empowered Funds LLC’s holdings in Adient were worth $11,208,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Leonteq Securities AG acquired a new position in shares of Adient in the fourth quarter valued at about $30,000. Quarry LP lifted its holdings in shares of Adient by 163.9% during the third quarter. Quarry LP now owns 2,304 shares of the company’s stock worth $55,000 after purchasing an additional 1,431 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Adient during the second quarter worth about $63,000. Los Angeles Capital Management LLC purchased a new stake in Adient in the fourth quarter valued at approximately $64,000. Finally, Parallel Advisors LLC boosted its position in Adient by 19.4% in the first quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock valued at $64,000 after buying an additional 517 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Insider Activity

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

Adient Stock Up 1.6%

Shares of ADNT stock opened at $21.93 on Friday. Adient has a twelve month low of $17.68 and a twelve month high of $27.32. The stock has a market cap of $1.72 billion, a P/E ratio of 30.88, a P/E/G ratio of 0.42 and a beta of 1.53. The stock has a 50 day moving average of $20.86 and a 200 day moving average of $21.63. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 1.18.

Adient (NYSE:ADNT) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.44 by $0.08. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.62 billion. Adient had a return on equity of 7.28% and a net margin of 0.39%.The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 EPS. As a group, sell-side analysts expect that Adient will post 2.13 EPS for the current year.

Analysts Set New Price Targets

ADNT has been the subject of a number of recent research reports. BNP Paribas Exane raised shares of Adient from a “neutral” rating to an “outperform” rating and set a $26.00 price target for the company in a research report on Thursday. Citigroup raised shares of Adient from a “neutral” rating to a “buy” rating and upped their price objective for the company from $30.00 to $33.00 in a report on Wednesday, April 15th. Stifel Nicolaus cut their price objective on shares of Adient from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Weiss Ratings raised shares of Adient from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Adient from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Adient currently has a consensus rating of “Hold” and a consensus price target of $27.90.

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.