WINTON GROUP Ltd boosted its holdings in shares of Adient PLC (NYSE:ADNT) by 17.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 267,018 shares of the company’s stock after purchasing an additional 40,122 shares during the period. WINTON GROUP Ltd owned about 0.29% of Adient worth $10,496,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADNT. Mount Yale Investment Advisors LLC lifted its stake in Adient by 268.8% during the second quarter. Mount Yale Investment Advisors LLC now owns 2,032 shares of the company’s stock worth $100,000 after purchasing an additional 1,481 shares during the last quarter. Massey Quick Simon & CO. LLC bought a new stake in Adient during the second quarter worth $158,000. Jane Street Group LLC bought a new position in shares of Adient in the 1st quarter valued at $210,000. Oakbrook Investments LLC bought a new position in shares of Adient in the 3rd quarter valued at $219,000. Finally, Alps Advisors Inc. bought a new position in shares of Adient in the 2nd quarter valued at $221,000. Hedge funds and other institutional investors own 97.85% of the company’s stock.
A number of brokerages have recently commented on ADNT. Morgan Stanley cut Adient from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $50.00 to $43.00 in a research note on Tuesday, July 31st. Barclays dropped their price target on Adient from $63.00 to $58.00 and set an “equal weight” rating for the company in a research note on Monday, July 30th. Guggenheim set a $46.00 price target on Adient and gave the company a “hold” rating in a research note on Friday, July 27th. Zacks Investment Research cut Adient from a “hold” rating to a “strong sell” rating in a research note on Monday, July 16th. Finally, Robert W. Baird upgraded Adient from an “underperform” rating to a “neutral” rating and set a $73.00 price target for the company in a research note on Friday, July 27th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. Adient currently has an average rating of “Hold” and an average target price of $53.92.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 24th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Tuesday, October 23rd. This represents a $1.10 dividend on an annualized basis and a yield of 5.11%. Adient’s payout ratio is 11.76%.
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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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