State Board of Administration of Florida Retirement System Sells 3,350 Shares of Adient plc (NYSE:ADNT)

State Board of Administration of Florida Retirement System decreased its position in Adient plc (NYSE:ADNT – Get Rating) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,122 shares of the company’s stock after selling 3,350 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Adient were worth $1,114,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ADNT. Clear Street Markets LLC bought a new position in Adient during the third quarter worth about $28,000. FourThought Financial LLC boosted its holdings in Adient by 19.0% during the third quarter. FourThought Financial LLC now owns 1,838 shares of the company’s stock worth $51,000 after buying an additional 293 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of Adient during the 4th quarter valued at about $115,000. US Bancorp DE lifted its holdings in shares of Adient by 16.7% during the 3rd quarter. US Bancorp DE now owns 4,225 shares of the company’s stock valued at $117,000 after purchasing an additional 604 shares in the last quarter. Finally, Ellevest Inc. lifted its holdings in shares of Adient by 244.0% during the 3rd quarter. Ellevest Inc. now owns 4,310 shares of the company’s stock valued at $120,000 after purchasing an additional 3,057 shares in the last quarter. Institutional investors own 93.20% of the company’s stock.

Wall Street Analysts Forecast Growth

ADNT has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Adient from $40.00 to $43.00 in a report on Wednesday, February 8th. Benchmark lifted their price objective on Adient from $48.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Morgan Stanley lifted their price objective on Adient from $29.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, February 9th. StockNews.com raised Adient from a “hold” rating to a “buy” rating in a research report on Monday, May 8th. Finally, Barclays dropped their target price on Adient from $54.00 to $50.00 in a research report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.88.

Adient Stock Up 0.7 %

ADNT stock opened at $35.35 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $3.35 billion, a PE ratio of 294.58 and a beta of 2.75. Adient plc has a 1-year low of $27.15 and a 1-year high of $47.50. The business’s 50 day simple moving average is $38.24 and its 200 day simple moving average is $39.06.

Adient (NYSE:ADNT – Get Rating) last posted its earnings results on Wednesday, May 3rd. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.09). The business had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.78 billion. Adient had a return on equity of 4.99% and a net margin of 0.08%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.13) earnings per share. As a group, research analysts anticipate that Adient plc will post 1.94 EPS for the current year.

Adient Profile

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Adient plc manufactures automotive seating systems. It operates through the following geographical segments: Americas, EMEA, and Asia. The company was founded in 1985 and is headquartered in Plymouth, MI.