Adient PLC (ADNT) Position Increased by Oppenheimer Asset Management Inc.
Oppenheimer Asset Management Inc. increased its holdings in Adient PLC (NYSE:ADNT) by 8.5% during the 2nd quarter, Holdings Channel reports. The firm owned 31,762 shares of the company’s stock after buying an additional 2,478 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Adient were worth $1,562,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of ADNT. Massachusetts Financial Services Co. MA lifted its holdings in Adient by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 872,297 shares of the company’s stock worth $42,908,000 after buying an additional 3,387 shares during the period. Comerica Bank lifted its holdings in Adient by 31.4% in the second quarter. Comerica Bank now owns 179,312 shares of the company’s stock worth $8,793,000 after buying an additional 42,868 shares during the period. Engine Capital Management LLC lifted its holdings in Adient by 4.1% in the first quarter. Engine Capital Management LLC now owns 420,373 shares of the company’s stock worth $25,121,000 after buying an additional 16,400 shares during the period. Creative Planning lifted its holdings in Adient by 13.0% in the second quarter. Creative Planning now owns 10,402 shares of the company’s stock worth $512,000 after buying an additional 1,194 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Adient by 57.1% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 9,341,552 shares of the company’s stock worth $558,251,000 after buying an additional 3,394,306 shares during the period.
ADNT has been the subject of several recent research reports. Longbow Research upgraded shares of Adient from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a report on Wednesday, May 9th. Robert W. Baird upgraded shares of Adient from an “underperform” rating to a “neutral” rating and set a $73.00 target price for the company in a report on Friday, July 27th. JPMorgan Chase & Co. lowered their target price on shares of Adient to $50.00 and set an “underweight” rating for the company in a report on Tuesday, June 12th. Zacks Investment Research upgraded shares of Adient from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 14th. Finally, Barclays lowered their target price on shares of Adient from $63.00 to $58.00 and set an “equal weight” rating for the company in a report on Monday, July 30th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Adient currently has an average rating of “Hold” and an average price target of $64.08.
Adient (NYSE:ADNT) last announced its quarterly earnings data on Thursday, July 26th. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.11). Adient had a return on equity of 14.27% and a net margin of 0.08%. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter in the previous year, the firm earned $2.52 earnings per share. Adient’s revenue was up 12.2% on a year-over-year basis. sell-side analysts predict that Adient PLC will post 5.79 EPS for the current year.
Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company operates through two segments, Seating and Interiors. The Seating segment produces automotive seat metal structures and mechanisms, foams, trims, fabrics, and seat systems.
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