Adient plc (NYSE:ADNT) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC decreased its position in Adient plc (NYSE:ADNT) by 4.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,050,593 shares of the company’s stock after selling 93,307 shares during the period. Geode Capital Management LLC’s holdings in Adient were worth $46,292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in ADNT. Hotchkis & Wiley Capital Management LLC lifted its stake in Adient by 9.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,197,090 shares of the company’s stock worth $117,298,000 after purchasing an additional 442,200 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Adient by 38,074.9% in the 3rd quarter. Pacer Advisors Inc. now owns 5,144,445 shares of the company’s stock worth $116,110,000 after buying an additional 5,130,969 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Adient by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,078,070 shares of the company’s stock valued at $125,480,000 after buying an additional 61,342 shares during the period. State Street Corp grew its position in shares of Adient by 4.8% during the 3rd quarter. State Street Corp now owns 3,443,471 shares of the company’s stock valued at $77,719,000 after buying an additional 158,017 shares during the last quarter. Finally, Pzena Investment Management LLC grew its position in shares of Adient by 45.0% during the 3rd quarter. Pzena Investment Management LLC now owns 2,825,491 shares of the company’s stock valued at $63,771,000 after buying an additional 877,142 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

ADNT has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $24.00 target price on shares of Adient in a research note on Tuesday, September 10th. Wells Fargo & Company downgraded Adient from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $27.00 to $20.00 in a research note on Monday, December 16th. Morgan Stanley dropped their target price on Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a research report on Thursday, November 14th. StockNews.com downgraded shares of Adient from a “buy” rating to a “hold” rating in a report on Friday. Finally, Wolfe Research started coverage on shares of Adient in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.50.

Insider Transactions at Adient

In other news, EVP James Conklin sold 11,500 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $20.25, for a total transaction of $232,875.00. Following the completion of the transaction, the executive vice president now owns 51,829 shares in the company, valued at approximately $1,049,537.25. This trade represents a 18.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

Adient Stock Performance

Shares of ADNT opened at $16.96 on Tuesday. Adient plc has a 52-week low of $16.43 and a 52-week high of $37.12. The firm has a market capitalization of $1.44 billion, a PE ratio of 73.74, a P/E/G ratio of 0.32 and a beta of 2.15. The firm has a 50-day moving average price of $19.84 and a 200 day moving average price of $22.09. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.98.

Adient (NYSE:ADNT) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. The business 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 business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the business earned $0.51 earnings per share. On average, sell-side analysts anticipate that Adient plc will post 2.04 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.