Adient plc (NYSE:ADNT) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its position in Adient plc (NYSE:ADNT) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 110,864 shares of the company’s stock after selling 3,718 shares during the period. Retirement Systems of Alabama owned approximately 0.12% of Adient worth $2,739,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ADNT. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Adient by 12.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,205 shares of the company’s stock valued at $771,000 after purchasing an additional 2,314 shares during the period. State of New Jersey Common Pension Fund D grew its holdings in Adient by 22.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 77,790 shares of the company’s stock worth $2,828,000 after acquiring an additional 14,137 shares during the period. SummerHaven Investment Management LLC raised its position in Adient by 1.8% in the fourth quarter. SummerHaven Investment Management LLC now owns 17,327 shares of the company’s stock worth $630,000 after acquiring an additional 310 shares in the last quarter. Levin Capital Strategies L.P. acquired a new stake in Adient in the 4th quarter valued at about $436,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Adient by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 889,242 shares of the company’s stock valued at $32,333,000 after purchasing an additional 21,323 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on ADNT. JPMorgan Chase & Co. cut their target price on shares of Adient from $31.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Morgan Stanley cut their price objective on Adient from $32.00 to $21.00 and set an “underweight” rating for the company in a research report on Wednesday, August 14th. Barclays decreased 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. BNP Paribas raised Adient from an “underperform” rating to a “neutral” rating and set a $26.00 target price for the company in a report on Monday, July 1st. Finally, Bank of America dropped their price target on Adient from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Adient currently has an average rating of “Hold” and a consensus target price of $28.00.

Adient Price Performance

NYSE ADNT opened at $22.16 on Wednesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.13 and a quick ratio of 0.91. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 0.46 and a beta of 2.19. The company has a 50 day simple moving average of $23.73 and a 200-day simple moving average of $28.25. Adient plc has a 52-week low of $20.18 and a 52-week high of $40.47.

Adient (NYSE:ADNT) last issued its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). Adient had a net margin of 1.04% and a return on equity of 8.72%. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same period last year, the business earned $0.98 EPS. The company’s quarterly revenue was down 8.4% on a year-over-year basis. Equities research analysts predict that Adient plc will post 2.14 earnings per share for the current fiscal year.

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.