Empowered Funds LLC Purchases Shares of 294,782 Adient plc (NYSE:ADNT)

Empowered Funds LLC acquired a new position in Adient plc (NYSE:ADNT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 294,782 shares of the company’s stock, valued at approximately $6,653,000. Empowered Funds LLC owned 0.34% of Adient as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. CWM LLC raised its stake in Adient by 44.5% during the 2nd quarter. CWM LLC now owns 1,439 shares of the company’s stock worth $36,000 after acquiring an additional 443 shares during the period. US Bancorp DE increased its stake in shares of Adient by 583.8% in the third quarter. US Bancorp DE now owns 1,860 shares of the company’s stock worth $42,000 after purchasing an additional 1,588 shares in the last quarter. Signaturefd LLC raised its position in shares of Adient by 493.8% during the 3rd quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock valued at $49,000 after purchasing an additional 1,822 shares during the period. KBC Group NV lifted its stake in shares of Adient by 51.8% during the 3rd quarter. KBC Group NV now owns 3,328 shares of the company’s stock valued at $75,000 after buying an additional 1,136 shares in the last quarter. Finally, Covestor Ltd lifted its stake in shares of Adient by 201.5% during the 1st quarter. Covestor Ltd now owns 3,307 shares of the company’s stock valued at $109,000 after buying an additional 2,210 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. decreased their price target on Adient from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Barclays decreased their target price on Adient from $29.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. UBS Group cut their price objective on shares of Adient from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $24.00 price objective on shares of Adient in a research report on Tuesday, September 10th. Finally, Bank of America cut their target price on shares of Adient from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Adient currently has an average rating of “Hold” and a consensus target price of $25.13.

Adient Price Performance

ADNT stock opened at $19.89 on Friday. Adient plc has a 52 week low of $19.30 and a 52 week high of $37.19. The firm has a market capitalization of $1.73 billion, a P/E ratio of 86.48, a price-to-earnings-growth ratio of 0.44 and a beta of 2.18. The company has a fifty day simple moving average of $21.32 and a two-hundred day simple moving average of $23.84. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.98.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. Adient had a net margin of 0.12% and a return on equity of 6.86%. The firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter last year, the firm earned $0.51 EPS. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. Analysts anticipate that Adient plc will post 2.51 earnings per share for the current fiscal year.

About Adient

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.