Bank of New York Mellon Corp Sells 58,443 Shares of Adient $ADNT

Bank of New York Mellon Corp reduced its stake in shares of Adient (NYSE:ADNT) by 8.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 650,413 shares of the company’s stock after selling 58,443 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.77% of Adient worth $12,657,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ADNT. Brooklyn Investment Group boosted its position in shares of Adient by 23,600.0% in the 1st quarter. Brooklyn Investment Group now owns 2,133 shares of the company’s stock worth $27,000 after purchasing an additional 2,124 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Adient by 991.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 2,182 shares of the company’s stock valued at $42,000 after acquiring an additional 1,982 shares during the period. Fifth Third Bancorp boosted its holdings in Adient by 544.4% in the second quarter. Fifth Third Bancorp now owns 2,133 shares of the company’s stock valued at $42,000 after purchasing an additional 1,802 shares during the last quarter. CWM LLC lifted its holdings in shares of Adient by 91.4% in the 1st quarter. CWM LLC now owns 3,426 shares of the company’s stock valued at $44,000 after buying an additional 1,636 shares during the period. Finally, Parallel Advisors LLC increased its holdings in shares of Adient by 13,957.9% during the 2nd quarter. Parallel Advisors LLC now owns 2,671 shares of the company’s stock valued at $52,000 after purchasing an additional 2,652 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Adient Price Performance

Shares of NYSE ADNT opened at $18.89 on Wednesday. The stock’s 50-day simple moving average is $23.17 and its 200-day simple moving average is $21.22. The firm has a market capitalization of $1.54 billion, a PE ratio of -5.66, a price-to-earnings-growth ratio of 0.62 and a beta of 1.87. Adient has a fifty-two week low of $10.04 and a fifty-two week high of $26.16. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.93 and a current ratio of 1.12.

Adient (NYSE:ADNT) last posted its earnings results on Wednesday, May 31st. The company reported ($0.13) earnings per share for the quarter. The firm had revenue of $3.51 billion during the quarter. Adient had a negative net margin of 1.93% and a positive return on equity of 7.81%. As a group, equities research analysts forecast that Adient will post 1.76 EPS for the current fiscal year.

Analysts Set New Price Targets

ADNT has been the subject of several recent analyst reports. UBS Group cut their price target on Adient from $28.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Citigroup dropped their target price on shares of Adient from $25.00 to $22.50 and set a “neutral” rating for the company in a report on Wednesday, November 12th. Zacks Research cut Adient from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. Bank of America boosted their price target on shares of Adient from $17.50 to $20.00 and gave the company an “underperform” rating in a research report on Wednesday, September 10th. Finally, Morgan Stanley increased their price objective on Adient from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $22.69.

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.