Hillsdale Investment Management Acquires 125,877 Shares in Adient

Hillsdale Investment Management Inc. recently made a significant investment in Adient, acquiring 125,877 shares of the company valued at approximately $2.45 million. This purchase occurred during the second quarter of the fiscal year, as reported by HoldingsChannel.com. The investment highlights a growing interest from institutional investors in Adient, which specializes in automotive seating systems.

Other institutional investors have also adjusted their holdings in Adient. Notably, Brooklyn Investment Group dramatically increased its stake by 23,600% in the first quarter, bringing its total to 2,133 shares worth about $27,000 after acquiring an additional 2,124 shares. Similarly, MassMutual Private Wealth & Trust FSB raised its position by 991%, owning 2,182 shares valued at $42,000 following a purchase of 1,982 shares during the same period.

Fifth Third Bancorp reported a 544.4% increase in its holdings, now owning 2,133 shares valued at $42,000, while CWM LLC lifted its holdings by 91.4%, increasing to 3,426 shares worth $44,000. Additionally, Parallel Advisors LLC boosted its position by an astonishing 13,957.9%, now holding 2,671 shares valued at $52,000. Currently, institutional investors own 92.44% of Adient’s stock.

Adient’s stock has seen fluctuations recently, opening at $18.97 on Friday, reflecting a 6.6% increase. The company has a market capitalization of $1.50 billion, with a price-to-earnings ratio of -5.68 and a price-to-earnings-growth ratio of 0.61. Over the past year, the stock has reached a low of $10.04 and a high of $26.16. Financial indicators show a debt-to-equity ratio of 1.16, a current ratio of 1.12, and a quick ratio of 0.93. The stock’s 50-day moving average stands at $22.83, while its two-hundred-day moving average is $21.28.

In terms of analyst sentiment, Adient has been the subject of several recent evaluations. On November 15, 2023, Wall Street Zen downgraded its rating from “buy” to “hold.” Wells Fargo & Company reduced its target price from $31.00 to $28.00, maintaining an “overweight” rating. Bank of America increased its target from $17.50 to $20.00, assigning an “underperform” rating. Morgan Stanley raised its target from $16.00 to $17.00, with an “underweight” rating. Lastly, Stifel Nicolaus lowered its price objective from $29.00 to $24.00, while still rating the stock as a “buy.”

Currently, two analysts have rated Adient with a “buy,” six have issued a “hold,” and three have given a “sell” rating. According to MarketBeat, the company has an average rating of “reduce” and a consensus price target of $22.69.

Adient plc is engaged in the design, development, manufacture, and marketing of seating systems and components for passenger cars, commercial vehicles, and light trucks. Its automotive seating solutions encompass complete seating systems, as well as frames, mechanisms, foams, head restraints, armrests, and trim covers.

For those interested in the latest movements of hedge funds holding Adient stock, further details can be accessed through HoldingsChannel.com, which provides up-to-date information on 13F filings and insider trades for Adient (NYSE:ADNT).