Levin Capital Strategies L.P. Purchases Shares of 12,000 Adient plc (NYSE:ADNT)

Levin Capital Strategies L.P. purchased a new stake in Adient plc (NYSE:ADNT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 12,000 shares of the company’s stock, valued at approximately $436,000.

Other large investors have also recently bought and sold shares of the company. SummerHaven Investment Management LLC grew its position in shares of Adient by 1.8% during the 4th quarter. SummerHaven Investment Management LLC now owns 17,327 shares of the company’s stock worth $630,000 after purchasing an additional 310 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of Adient by 22.2% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 77,790 shares of the company’s stock worth $2,828,000 after purchasing an additional 14,137 shares in the last quarter. Watershed Asset Management L.L.C. grew its position in shares of Adient by 8.2% during the 4th quarter. Watershed Asset Management L.L.C. now owns 7,818 shares of the company’s stock worth $284,000 after purchasing an additional 595 shares in the last quarter. Jennison Associates LLC grew its position in shares of Adient by 35.2% during the 4th quarter. Jennison Associates LLC now owns 22,504 shares of the company’s stock worth $818,000 after purchasing an additional 5,854 shares in the last quarter. Finally, Foundry Partners LLC acquired a new position in shares of Adient during the 4th quarter worth approximately $3,899,000. 92.44% of the stock is owned by institutional investors.

Adient Trading Down 9.3 %

ADNT stock traded down $2.80 during midday trading on Friday, hitting $27.42. The stock had a trading volume of 2,258,119 shares, compared to its average volume of 1,045,791. The firm has a market cap of $2.50 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 0.31 and a beta of 2.39. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.92. Adient plc has a 1-year low of $26.97 and a 1-year high of $46.51. The business has a fifty day moving average price of $31.82 and a two-hundred day moving average price of $33.31.

Adient (NYSE:ADNT) last announced its quarterly earnings data 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). Adient had a net margin of 1.39% and a return on equity of 7.90%. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the prior year, the company posted $0.34 EPS. Adient’s revenue for the quarter was up .0% on a year-over-year basis. On average, sell-side analysts predict that Adient plc will post 2.53 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Heather M. Tiltmann sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $33.68, for a total value of $336,800.00. Following the sale, the executive vice president now owns 55,669 shares in the company, valued at approximately $1,874,931.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

ADNT has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Adient from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Monday, April 22nd. Bank of America reduced their price target on shares of Adient from $50.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Barclays reiterated an “equal weight” rating and set a $37.00 price target (down previously from $41.00) on shares of Adient in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company reduced their price target on shares of Adient from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Adient 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.