Ninety One UK Ltd Lowers Holdings in Adient plc (NYSE:ADNT)

Ninety One UK Ltd decreased its stake in Adient plc (NYSE:ADNT) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 632,185 shares of the company’s stock after selling 29,985 shares during the quarter. Ninety One UK Ltd owned approximately 0.69% of Adient worth $22,986,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. acquired a new stake in Adient in the first quarter valued at approximately $214,000. Bank of Montreal Can grew its holdings in Adient by 45.3% in the first quarter. Bank of Montreal Can now owns 77,628 shares of the company’s stock valued at $3,169,000 after purchasing an additional 24,213 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Adient by 11.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,731 shares of the company’s stock valued at $1,416,000 after purchasing an additional 3,493 shares during the period. BlackRock Inc. grew its holdings in Adient by 1.6% in the first quarter. BlackRock Inc. now owns 10,748,066 shares of the company’s stock valued at $438,197,000 after purchasing an additional 167,887 shares during the period. Finally, Great West Life Assurance Co. Can acquired a new stake in Adient in the first quarter valued at approximately $2,433,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Insider Activity

In other news, EVP Heather M. Tiltmann sold 10,000 shares of Adient stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $33.68, for a total value of $336,800.00. Following the completion of the sale, the executive vice president now directly owns 55,669 shares of the company’s stock, valued at $1,874,931.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.30% of the company’s stock.

Adient Price Performance

ADNT stock opened at $28.02 on Friday. The business has a fifty day moving average of $32.99 and a two-hundred day moving average of $33.86. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.92. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 0.29 and a beta of 2.51. Adient plc has a 52-week low of $27.73 and a 52-week high of $46.51.

Adient (NYSE:ADNT) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.16). Adient had a net margin of 1.39% and a return on equity of 7.90%. The firm had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year. As a group, research analysts anticipate that Adient plc will post 2.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Bank of America decreased their target price on Adient from $50.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. JPMorgan Chase & Co. decreased their target price on Adient from $41.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Barclays restated an “equal weight” rating and issued a $37.00 target price (down previously from $41.00) on shares of Adient in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company decreased their target price on Adient from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $42.86.

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.