Principal Financial Group Inc. Sells 4,869 Shares of Adient (NYSE:ADNT)

Principal Financial Group Inc. decreased its position in Adient (NYSE:ADNT) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 417,937 shares of the company’s stock after selling 4,869 shares during the quarter. Principal Financial Group Inc. owned approximately 0.50% of Adient worth $5,375,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new position in Adient in the fourth quarter worth about $25,000. GAMMA Investing LLC increased its holdings in shares of Adient by 157.5% in the 1st quarter. GAMMA Investing LLC now owns 2,235 shares of the company’s stock worth $29,000 after purchasing an additional 1,367 shares in the last quarter. Sterling Capital Management LLC increased its holdings in Adient by 803.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,738 shares of the company’s stock worth $47,000 after buying an additional 2,435 shares in the last quarter. Oarsman Capital Inc. raised its position in Adient by 98.7% in the 4th quarter. Oarsman Capital Inc. now owns 2,966 shares of the company’s stock worth $51,000 after buying an additional 1,473 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Adient by 10.6% during the 4th quarter. Covestor Ltd now owns 6,062 shares of the company’s stock valued at $104,000 after acquiring an additional 580 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Adient Price Performance

Shares of ADNT stock opened at $22.36 on Thursday. The company’s 50-day simple moving average is $18.15 and its two-hundred day simple moving average is $15.99. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.11 and a quick ratio of 0.90. Adient has a one year low of $10.04 and a one year high of $26.59. The company has a market capitalization of $1.88 billion, a P/E ratio of -6.99, a P/E/G ratio of 0.68 and a beta of 1.69.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.36 by $0.33. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. Adient had a positive return on equity of 7.70% and a negative net margin of 1.86%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 earnings per share. As a group, equities analysts anticipate that Adient will post 1.76 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Citigroup initiated coverage on shares of Adient in a research note on Wednesday, April 23rd. They set a “neutral” rating and a $14.00 target price for the company. Bank of America upped their price target on shares of Adient from $15.00 to $17.50 and gave the company an “underperform” rating in a research report on Monday, June 16th. Morgan Stanley decreased their price target on shares of Adient from $17.00 to $16.00 and set an “underweight” rating on the stock in a research report on Monday, May 19th. Wells Fargo & Company raised their target price on Adient from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 1st. Finally, Wall Street Zen cut Adient from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. Two equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, Adient has an average rating of “Hold” and an average target price of $20.06.

Adient Company 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.