Swiss National Bank Sells 7,000 Shares of Adient $ADNT

Swiss National Bank decreased its holdings in shares of Adient (NYSE:ADNT) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,498 shares of the company’s stock after selling 7,000 shares during the period. Swiss National Bank owned about 0.20% of Adient worth $2,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Millennium Management LLC boosted its holdings in Adient by 2,039.0% in the 4th quarter. Millennium Management LLC now owns 610,312 shares of the company’s stock worth $10,516,000 after buying an additional 581,779 shares during the period. Federated Hermes Inc. boosted its holdings in Adient by 68,173.6% in the 1st quarter. Federated Hermes Inc. now owns 524,341 shares of the company’s stock worth $6,743,000 after buying an additional 523,573 shares during the period. Allianz Asset Management GmbH bought a new position in Adient in the 1st quarter worth $6,022,000. Pzena Investment Management LLC boosted its holdings in Adient by 7.5% in the 1st quarter. Pzena Investment Management LLC now owns 3,901,573 shares of the company’s stock worth $50,174,000 after buying an additional 272,121 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its holdings in Adient by 805.6% in the 4th quarter. Cubist Systematic Strategies LLC now owns 285,844 shares of the company’s stock worth $4,925,000 after buying an additional 254,280 shares during the period. Institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

ADNT has been the subject of several recent analyst reports. UBS Group upped their target price on shares of Adient from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Cfra Research raised shares of Adient from a “moderate sell” rating to a “hold” rating in a report on Thursday, August 7th. Bank of America upped their target price on shares of Adient from $15.00 to $17.50 and gave the stock an “underperform” rating in a report on Monday, June 16th. Barclays upped their target price on shares of Adient from $18.00 to $25.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Finally, Stifel Nicolaus initiated coverage on shares of Adient in a report on Thursday. They issued a “buy” rating and a $27.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $21.72.

Adient Stock Up 5.4%

Shares of ADNT stock opened at $24.8470 on Friday. The stock has a market cap of $2.02 billion, a P/E ratio of -9.38, a PEG ratio of 0.83 and a beta of 1.72. Adient has a 52 week low of $10.04 and a 52 week high of $24.96. The company has a quick ratio of 0.92, a current ratio of 1.12 and a debt-to-equity ratio of 1.15. The company’s fifty day simple moving average is $21.82 and its two-hundred day simple moving average is $17.00.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.56 billion. Adient had a positive return on equity of 8.25% and a negative net margin of 1.53%.The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. Analysts predict that Adient will post 1.76 EPS for the current fiscal year.

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.