California Public Employees Retirement System Decreases Stock Holdings in Adient plc (NYSE:ADNT)

California Public Employees Retirement System decreased its position in Adient plc (NYSE:ADNT) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 163,382 shares of the company’s stock after selling 21,557 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of Adient worth $5,941,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ADNT. Headlands Technologies LLC bought a new stake in shares of Adient during the 3rd quarter valued at about $46,000. AM Squared Ltd bought a new stake in shares of Adient during the 3rd quarter valued at about $106,000. Dark Forest Capital Management LP bought a new stake in shares of Adient during the 3rd quarter valued at about $205,000. Handelsinvest Investeringsforvaltning bought a new stake in shares of Adient during the 4th quarter valued at about $207,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Adient by 20.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,743 shares of the company’s stock valued at $211,000 after purchasing an additional 962 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ADNT. Wells Fargo & Company dropped their price objective on shares of Adient from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, February 8th. Bank of America dropped their price objective on shares of Adient from $50.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Barclays reissued an “equal weight” rating and set a $37.00 price objective (down previously from $41.00) on shares of Adient in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Adient from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Adient presently has an average rating of “Hold” and an average target price of $42.43.

Insider Activity

In other news, EVP Heather M. Tiltmann sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $33.68, for a total transaction of $336,800.00. Following the completion of the transaction, the executive vice president now directly owns 55,669 shares of the company’s stock, valued at $1,874,931.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.

Adient Stock Down 9.3 %

Shares of Adient stock opened at $27.41 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.91 and a current ratio of 1.15. The stock has a market capitalization of $2.50 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 0.31 and a beta of 2.39. Adient plc has a 52-week low of $26.97 and a 52-week high of $46.51. The company has a 50-day simple moving average of $31.82 and a two-hundred day simple moving average of $33.30.

Adient (NYSE:ADNT) last issued its earnings results on Friday, May 3rd. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.15. The business had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Adient had a net margin of 1.39% and a return on equity of 7.90%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 earnings per share. On average, analysts anticipate that Adient plc will post 2.53 EPS for the current fiscal year.

Adient 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.