HITE Hedge Asset Management LLC Sells 145,689 Shares of Adient plc (NYSE:ADNT)

HITE Hedge Asset Management LLC trimmed its position in shares of Adient plc (NYSE:ADNT) by 28.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 367,014 shares of the company’s stock after selling 145,689 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in Adient were worth $8,284,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC lifted its stake in Adient by 44.5% in the second quarter. CWM LLC now owns 1,439 shares of the company’s stock worth $36,000 after acquiring an additional 443 shares during the last quarter. US Bancorp DE raised its stake in Adient by 583.8% during the third quarter. US Bancorp DE now owns 1,860 shares of the company’s stock worth $42,000 after acquiring an additional 1,588 shares during the period. Signaturefd LLC boosted its holdings in shares of Adient by 493.8% in the third quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock valued at $49,000 after acquiring an additional 1,822 shares in the last quarter. KBC Group NV boosted its stake in Adient by 51.8% in the 3rd quarter. KBC Group NV now owns 3,328 shares of the company’s stock worth $75,000 after purchasing an additional 1,136 shares during the period. Finally, Covestor Ltd raised its holdings in Adient by 23.2% in the 3rd quarter. Covestor Ltd now owns 5,482 shares of the company’s stock worth $124,000 after acquiring an additional 1,032 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Adient Trading Up 5.5 %

Shares of ADNT opened at $20.28 on Tuesday. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 88.17, a PEG ratio of 0.32 and a beta of 2.18. Adient plc has a 52-week low of $18.53 and a 52-week high of $37.19. The business’s fifty day moving average is $20.91 and its 200-day moving average is $23.06. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.90 and a current ratio of 1.11.

Adient (NYSE:ADNT) last posted its earnings results on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.47 billion. Adient had a net margin of 0.12% and a return on equity of 6.86%. Adient’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. Equities analysts anticipate that Adient plc will post 2.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ADNT has been the subject of several recent analyst reports. Bank of America downgraded shares of Adient from a “buy” rating to a “neutral” rating and lowered their target price for the company from $30.00 to $24.00 in a research note on Thursday, November 21st. Wolfe Research assumed coverage on shares of Adient in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $24.00 target price on shares of Adient in a report on Tuesday, September 10th. StockNews.com raised shares of Adient from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Finally, Morgan Stanley reduced their target price on Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $24.38.

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.