Commonwealth Bank of Australia Acquires 25,000 Shares of Adient PLC (ADNT)

Commonwealth Bank of Australia raised its holdings in Adient PLC (NYSE:ADNT) by 192,307.7% during the 3rd quarter, Holdings Channel reports. The firm owned 25,013 shares of the company’s stock after acquiring an additional 25,000 shares during the period. Commonwealth Bank of Australia’s holdings in Adient were worth $982,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. First Mercantile Trust Co. raised its position in shares of Adient by 34.4% during the 3rd quarter. First Mercantile Trust Co. now owns 11,784 shares of the company’s stock worth $463,000 after purchasing an additional 3,018 shares during the last quarter. Oarsman Capital Inc. raised its position in shares of Adient by 12.8% during the 3rd quarter. Oarsman Capital Inc. now owns 56,294 shares of the company’s stock worth $2,213,000 after purchasing an additional 6,395 shares during the last quarter. Rhumbline Advisers raised its position in shares of Adient by 79.1% during the 3rd quarter. Rhumbline Advisers now owns 155,710 shares of the company’s stock worth $6,121,000 after purchasing an additional 68,763 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Adient by 288.5% during the 3rd quarter. Prudential Financial Inc. now owns 318,585 shares of the company’s stock worth $12,523,000 after purchasing an additional 236,583 shares during the last quarter. Finally, Arnhold LLC raised its position in shares of Adient by 44.3% during the 3rd quarter. Arnhold LLC now owns 161,490 shares of the company’s stock worth $6,348,000 after purchasing an additional 49,600 shares during the last quarter.

ADNT stock opened at $24.81 on Friday. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 4.41, a price-to-earnings-growth ratio of 0.46 and a beta of 0.73. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.03 and a quick ratio of 0.83. Adient PLC has a 12 month low of $21.09 and a 12 month high of $84.59.

Adient (NYSE:ADNT) last released its quarterly earnings data on Friday, November 9th. The company reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.04. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.11 billion. Adient had a negative net margin of 9.66% and a positive return on equity of 13.51%. Adient’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.34 EPS. On average, sell-side analysts expect that Adient PLC will post 4.42 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Wednesday, October 24th were paid a $0.275 dividend. The ex-dividend date was Tuesday, October 23rd. This represents a $1.10 annualized dividend and a dividend yield of 4.43%. Adient’s dividend payout ratio (DPR) is 19.57%.

Several research analysts recently weighed in on ADNT shares. Buckingham Research reduced their price target on shares of Adient from $54.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, October 3rd. Royal Bank of Canada reduced their price target on shares of Adient to $21.00 and set a “sector perform” rating for the company in a research report on Monday, November 12th. ValuEngine downgraded shares of Adient from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 2nd. Morgan Stanley downgraded shares of Adient from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $50.00 to $43.00 in a research report on Tuesday, July 31st. Finally, Barclays restated a “hold” rating and set a $28.00 price target on shares of Adient in a research report on Tuesday, November 13th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $41.25.

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Adient Profile

Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company operates through two segments, Seating and Interiors. The Seating segment produces automotive seat metal structures and mechanisms, foams, trims, fabrics, and seat systems.

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Institutional Ownership by Quarter for Adient (NYSE:ADNT)

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