California Public Employees Retirement System Trims Stock Position in Adient plc (NYSE:ADNT)

California Public Employees Retirement System decreased its stake in Adient plc (NYSE:ADNTGet Rating) by 9.7% during the second quarter, Holdings Channel reports. The institutional investor owned 185,825 shares of the company’s stock after selling 20,020 shares during the quarter. California Public Employees Retirement System’s holdings in Adient were worth $5,506,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADNT. Retirement Systems of Alabama boosted its position in Adient by 13.8% in the 2nd quarter. Retirement Systems of Alabama now owns 397,397 shares of the company’s stock worth $11,775,000 after purchasing an additional 48,253 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in Adient during the first quarter valued at $780,000. Belpointe Asset Management LLC grew its position in Adient by 20.7% during the second quarter. Belpointe Asset Management LLC now owns 9,799 shares of the company’s stock valued at $291,000 after buying an additional 1,679 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Adient by 7.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 31,098 shares of the company’s stock valued at $1,268,000 after buying an additional 2,040 shares in the last quarter. Finally, Lyrical Asset Management LP raised its position in shares of Adient by 1.4% in the first quarter. Lyrical Asset Management LP now owns 4,534,358 shares of the company’s stock worth $184,866,000 after acquiring an additional 60,595 shares during the period. 97.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ADNT shares. Deutsche Bank Aktiengesellschaft cut Adient from a “buy” rating to a “hold” rating and set a $39.00 target price on the stock. in a research report on Tuesday, November 8th. StockNews.com started coverage on Adient in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Bank of America reduced their target price on Adient from $48.00 to $41.00 and set a “neutral” rating for the company in a research note on Friday, September 9th. Royal Bank of Canada cut shares of Adient from an “outperform” rating to a “sector perform” rating and set a $36.00 price target on the stock. in a research note on Monday, November 7th. Finally, Wells Fargo & Company upped their price objective on shares of Adient from $37.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, November 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $38.00.

Adient Stock Down 0.3 %

Shares of ADNT opened at $39.28 on Friday. The stock has a 50 day moving average price of $33.71 and a 200 day moving average price of $33.08. Adient plc has a one year low of $27.15 and a one year high of $50.96. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.92 and a current ratio of 1.19. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of -30.93 and a beta of 2.63.

Adient (NYSE:ADNTGet Rating) last released its earnings results on Friday, November 4th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.55 billion. Adient had a negative net margin of 0.85% and a positive return on equity of 0.43%. Equities research analysts forecast that Adient plc will post 2.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Adient

In other news, CFO Jeffrey Stafeil sold 29,210 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $37.81, for a total transaction of $1,104,430.10. Following the transaction, the chief financial officer now directly owns 167,742 shares in the company, valued at approximately $6,342,325.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Jerome J. Dorlack sold 4,300 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $39.09, for a total value of $168,087.00. Following the completion of the sale, the executive vice president now owns 139,396 shares of the company’s stock, valued at $5,448,989.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey Stafeil sold 29,210 shares of Adient stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $37.81, for a total transaction of $1,104,430.10. Following the transaction, the chief financial officer now directly owns 167,742 shares in the company, valued at $6,342,325.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,710 shares of company stock worth $1,316,461. Insiders own 0.36% of the company’s stock.

About Adient

(Get Rating)

Adient plc, an investment holding company, 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.

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Want to see what other hedge funds are holding ADNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adient plc (NYSE:ADNTGet Rating).

Institutional Ownership by Quarter for Adient (NYSE:ADNT)

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