JPMorgan Chase & Co. Has $31.86 Million Holdings in Adient $ADNT

JPMorgan Chase & Co. trimmed its position in shares of Adient (NYSE:ADNT) by 9.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,323,011 shares of the company’s stock after selling 139,151 shares during the period. JPMorgan Chase & Co.’s holdings in Adient were worth $31,858,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State of New Jersey Common Pension Fund D acquired a new stake in shares of Adient during the 3rd quarter worth approximately $2,173,000. PNC Financial Services Group Inc. boosted its holdings in shares of Adient by 24.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,370 shares of the company’s stock valued at $177,000 after purchasing an additional 1,456 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Adient by 10.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 316,934 shares of the company’s stock valued at $7,632,000 after purchasing an additional 30,552 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Adient by 22.1% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 46,120 shares of the company’s stock valued at $1,111,000 after purchasing an additional 8,353 shares during the last quarter. Finally, Versor Investments LP acquired a new position in shares of Adient during the 3rd quarter worth $243,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADNT has been the topic of several research analyst reports. Barclays raised their price objective on Adient from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, February 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Adient in a report on Wednesday, January 21st. UBS Group lifted their price target on shares of Adient from $30.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Stifel Nicolaus increased their price objective on shares of Adient from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Adient from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $27.44.

Adient Stock Performance

Shares of Adient stock opened at $24.26 on Friday. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -6.70, a P/E/G ratio of 0.65 and a beta of 1.61. Adient has a twelve month low of $10.04 and a twelve month high of $27.32. The company’s fifty day moving average is $22.42 and its 200 day moving average is $22.41. The company has a quick ratio of 0.88, a current ratio of 1.09 and a debt-to-equity ratio of 1.17.

Adient (NYSE:ADNT) last announced its earnings results on Wednesday, February 4th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.16. Adient had a positive return on equity of 8.18% and a negative net margin of 2.06%.The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same period last year, the company earned $0.27 EPS. Adient’s revenue for the quarter was up 4.3% compared to the same quarter last year. Sell-side analysts forecast that Adient will post 1.76 EPS for the current year.

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.