Headlands Technologies LLC Sells 3,134 Shares of Adient plc (NYSE:ADNT)

Headlands Technologies LLC trimmed its stake in shares of Adient plc (NYSE:ADNT) by 64.8% in the second quarter, HoldingsChannel.com reports. The fund owned 1,699 shares of the company’s stock after selling 3,134 shares during the quarter. Headlands Technologies LLC’s holdings in Adient were worth $42,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. boosted its holdings in shares of Adient by 1.2% during the 4th quarter. Franklin Resources Inc. now owns 3,233,171 shares of the company’s stock valued at $117,558,000 after acquiring an additional 37,010 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Adient in the 1st quarter worth approximately $2,710,000. Magnetar Financial LLC bought a new position in Adient during the first quarter valued at about $2,746,000. Duality Advisers LP purchased a new position in Adient in the first quarter valued at approximately $1,653,000. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Adient by 356.7% in the second quarter. Harbor Capital Advisors Inc. now owns 83,293 shares of the company’s stock valued at $2,058,000 after buying an additional 65,055 shares during the period. Institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

ADNT has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Adient from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $24.00 price objective on shares of Adient in a report on Tuesday, September 10th. UBS Group dropped their price objective on Adient from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Barclays dropped their price objective on Adient from $29.00 to $24.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Finally, Morgan Stanley cut their price objective on Adient from $32.00 to $21.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.25.

Adient Stock Performance

Shares of ADNT stock opened at $21.67 on Wednesday. The firm has a market capitalization of $1.95 billion, a PE ratio of 13.29, a P/E/G ratio of 0.53 and a beta of 2.16. The company has a 50 day moving average price of $22.76 and a 200-day moving average price of $26.92. Adient plc has a 52 week low of $19.40 and a 52 week high of $38.63. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 1.08.

Adient (NYSE:ADNT) last posted its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.82 billion. Adient had a net margin of 0.50% and a return on equity of 6.34%. The firm’s revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 EPS. As a group, equities research analysts expect that Adient plc will post 1.77 earnings per share for the current year.

About Adient

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.