Retirement Systems of Alabama Sells 2,718 Shares of Adient plc (NYSE:ADNT)

Retirement Systems of Alabama decreased its position in shares of Adient plc (NYSE:ADNTFree Report) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 114,582 shares of the company’s stock after selling 2,718 shares during the quarter. Retirement Systems of Alabama owned about 0.13% of Adient worth $3,772,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADNT. Partnership Wealth Management LLC bought a new stake in shares of Adient during the 4th quarter valued at about $83,000. TFO Wealth Partners LLC grew its position in shares of Adient by 41,090.9% during the 4th quarter. TFO Wealth Partners LLC now owns 4,531 shares of the company’s stock worth $1,650,000 after buying an additional 4,520 shares during the period. Handelsinvest Investeringsforvaltning bought a new stake in shares of Adient in the 4th quarter valued at $207,000. Assenagon Asset Management S.A. acquired a new position in shares of Adient during the 1st quarter valued at $223,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of Adient by 18.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,991 shares of the company’s stock valued at $254,000 after acquiring an additional 1,109 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Transactions at Adient

In related news, Director Peter Carlin sold 4,207 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $28.90, for a total transaction of $121,582.30. Following the completion of the transaction, the director now owns 28,352 shares in the company, valued at $819,372.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Barclays decreased their price target on shares of Adient from $37.00 to $34.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 7th. Wells Fargo & Company reduced their price objective on Adient from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, June 25th. Bank of America decreased their price objective on Adient from $50.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. JPMorgan Chase & Co. cut their target price on Adient from $40.00 to $37.00 and set a “neutral” rating on the stock in a report on Monday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Adient from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Adient has a consensus rating of “Hold” and an average target price of $37.67.

Read Our Latest Report on ADNT

Adient Stock Performance

Shares of ADNT stock opened at $24.17 on Friday. 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 50-day moving average of $27.25 and a 200-day moving average of $31.26. Adient plc has a one year low of $24.16 and a one year high of $46.51. The company has a market cap of $2.17 billion, a P/E ratio of 14.83, a P/E/G ratio of 0.33 and a beta of 2.19.

Adient (NYSE:ADNTGet Free Report) last posted its quarterly earnings data on Friday, May 3rd. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.39 by $0.15. Adient had a net margin of 1.04% and a return on equity of 8.72%. The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.80 billion. During the same quarter last year, the business posted $0.32 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities research analysts forecast that Adient plc will post 2.26 EPS for the current fiscal year.

Adient Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Adient (NYSE:ADNT)

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