Principal Financial Group Inc. Buys 109,850 Shares of Adient plc (NYSE:ADNT)

Principal Financial Group Inc. boosted its position in shares of Adient plc (NYSE:ADNT) by 36.5% in the third quarter, Holdings Channel.com reports. The firm owned 411,199 shares of the company’s stock after acquiring an additional 109,850 shares during the period. Principal Financial Group Inc.’s holdings in Adient were worth $9,281,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC boosted its position in shares of Adient by 44.5% during the second quarter. CWM LLC now owns 1,439 shares of the company’s stock worth $36,000 after buying an additional 443 shares during the period. US Bancorp DE grew its stake in shares of Adient by 583.8% during the 3rd quarter. US Bancorp DE now owns 1,860 shares of the company’s stock worth $42,000 after acquiring an additional 1,588 shares in the last quarter. Signaturefd LLC raised 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 purchasing an additional 1,822 shares during the last quarter. Covestor Ltd lifted its position in shares of Adient by 201.5% in the first quarter. Covestor Ltd now owns 3,307 shares of the company’s stock worth $109,000 after purchasing an additional 2,210 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Adient during the first quarter worth $135,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Adient Stock Down 0.7 %

ADNT stock opened at $19.75 on Tuesday. The business’s 50 day simple moving average is $21.32 and its 200 day simple moving average is $23.80. Adient plc has a 1-year low of $19.30 and a 1-year high of $37.19. The firm has a market capitalization of $1.72 billion, a PE ratio of 85.87, a PEG ratio of 0.46 and a beta of 2.18. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.98.

Adient (NYSE:ADNT) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.12. The company had revenue of $3.56 billion for 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%. The company’s revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 earnings per share. As a group, research analysts anticipate that Adient plc will post 2.27 EPS for the current year.

Analyst Upgrades and Downgrades

ADNT has been the topic of several recent research reports. UBS Group cut their price target on shares of Adient from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Barclays dropped their target price on Adient from $29.00 to $24.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price target on Adient from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. StockNews.com raised Adient from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company lowered their target price on shares of Adient from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $25.13.

Adient 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.