Adient plc (NYSE:ADNT) Shares Bought by Watershed Asset Management L.L.C.

Watershed Asset Management L.L.C. raised its stake in Adient plc (NYSE:ADNT) by 8.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,818 shares of the company’s stock after buying an additional 595 shares during the quarter. Watershed Asset Management L.L.C.’s holdings in Adient were worth $284,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new position in shares of Adient during the third quarter worth approximately $46,000. AM Squared Ltd acquired a new position in shares of Adient during the third quarter worth approximately $106,000. Dark Forest Capital Management LP acquired a new position in shares of Adient during the third quarter worth approximately $205,000. Handelsinvest Investeringsforvaltning acquired a new position in shares of Adient during the fourth quarter worth approximately $207,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Adient by 20.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,743 shares of the company’s stock worth $211,000 after buying an additional 962 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADNT has been the subject of several analyst reports. Bank of America reduced their price objective on Adient from $50.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Barclays reiterated an “equal weight” rating and set a $37.00 price objective (down from $41.00) on shares of Adient in a research report on Wednesday, April 10th. Wells Fargo & Company cut their target price on Adient from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. cut their target price on Adient from $40.00 to $37.00 and set a “neutral” rating for the company in a research report on Monday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $42.43.

Insider Buying and Selling at Adient

In other Adient news, EVP Heather M. Tiltmann sold 10,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $33.68, for a total value of $336,800.00. Following the transaction, the executive vice president now owns 55,669 shares of the company’s stock, valued at $1,874,931.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by corporate insiders.

Adient Price Performance

ADNT traded down $0.04 during trading on Tuesday, reaching $28.95. The stock had a trading volume of 832,116 shares, compared to its average volume of 1,027,175. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 0.30 and a beta of 2.51. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.92. Adient plc has a 1-year low of $27.73 and a 1-year high of $46.51. The stock has a 50 day moving average of $32.57 and a two-hundred day moving average of $33.65.

Adient (NYSE:ADNT) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.16). The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.76 billion. Adient had a net margin of 1.39% and a return on equity of 7.90%. Adient’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 EPS. As a group, equities analysts anticipate that Adient plc will post 2.57 EPS for the current fiscal year.

Adient Company 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.