Harbor Capital Advisors Inc. Acquires 122,565 Shares of Adient plc (NYSE:ADNT)

by · The Markets Daily

Harbor Capital Advisors Inc. grew its stake in Adient plc (NYSE:ADNT – Free Report) by 147.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 205,858 shares of the company’s stock after purchasing an additional 122,565 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.23% of Adient worth $4,646,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. CWM LLC lifted its holdings in Adient by 44.5% during the 2nd quarter. CWM LLC now owns 1,439 shares of the company’s stock valued at $36,000 after purchasing an additional 443 shares during the last quarter. US Bancorp DE raised 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 valued at $42,000 after acquiring an additional 1,588 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Adient by 493.8% in the 3rd quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock worth $49,000 after acquiring an additional 1,822 shares in the last quarter. Covestor Ltd grew its position in Adient by 201.5% during the 1st quarter. Covestor Ltd now owns 3,307 shares of the company’s stock worth $109,000 after acquiring an additional 2,210 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Adient during the 1st quarter valued at $135,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Adient Stock Performance

ADNT stock opened at $19.82 on Monday. Adient plc has a twelve month low of $19.40 and a twelve month high of $37.19. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 1.08. The company has a market cap of $1.73 billion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 0.38 and a beta of 2.18. The business’s fifty day moving average is $21.70 and its 200-day moving average is $24.44.

Adient (NYSE:ADNT – Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.82 billion. Adient had a return on equity of 6.34% and a net margin of 0.50%. Adient’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. Equities research analysts forecast that Adient plc will post 1.73 EPS for the current year.

Analysts Set New Price Targets

ADNT has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their target price on Adient from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Morgan Stanley decreased their price objective on shares of Adient from $32.00 to $21.00 and set an “underweight” rating on the stock in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $24.00 target price on shares of Adient in a research note on Tuesday, September 10th. UBS Group decreased their price target on shares of Adient from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Barclays dropped their price objective on shares of Adient from $29.00 to $24.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Adient presently has a consensus rating of “Hold” and a consensus target price of $25.38.

Get Our Latest Analysis on ADNT

Adient Profile

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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.

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