Fisher Asset Management LLC Lowers Stake in Adient plc (NYSE:ADNT)

Fisher Asset Management LLC cut its stake in Adient plc (NYSE:ADNT) by 17.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,022,671 shares of the company’s stock after selling 214,576 shares during the quarter. Fisher Asset Management LLC owned about 1.12% of Adient worth $37,184,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. New York State Teachers Retirement System grew its position in shares of Adient by 7.5% in the 3rd quarter. New York State Teachers Retirement System now owns 112,763 shares of the company’s stock worth $4,138,000 after buying an additional 7,899 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in Adient by 4.9% in the third quarter. Verdence Capital Advisors LLC now owns 7,820 shares of the company’s stock worth $287,000 after purchasing an additional 368 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Adient by 9.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,891 shares of the company’s stock worth $693,000 after purchasing an additional 1,684 shares in the last quarter. Strs Ohio purchased a new stake in shares of Adient during the 3rd quarter valued at $1,148,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Adient by 1.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,555 shares of the company’s stock worth $1,562,000 after purchasing an additional 571 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

Adient Price Performance

Shares of NYSE:ADNT opened at $27.41 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.92. Adient plc has a twelve month low of $26.97 and a twelve month high of $46.51. The company’s 50 day moving average is $31.82 and its 200 day moving average is $33.30. The company has a market cap of $2.50 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 0.29 and a beta of 2.39.

Adient (NYSE:ADNT) last released its quarterly earnings data on Friday, May 3rd. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.15. The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.80 billion. Adient had a net margin of 1.39% and a return on equity of 7.90%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. On average, sell-side analysts forecast that Adient plc will post 2.53 EPS for the current year.

Analysts Set New Price Targets

ADNT has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Adient from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Monday, April 22nd. Bank of America decreased their price objective on shares of Adient from $50.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Wells Fargo & Company dropped their target price on shares of Adient from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, February 8th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $37.00 price target (down previously from $41.00) on shares of Adient in a report on Wednesday, April 10th. 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $42.43.

Insiders Place Their Bets

In other news, EVP Heather M. Tiltmann sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $33.68, for a total value of $336,800.00. Following the completion of the transaction, the executive vice president now owns 55,669 shares of the company’s stock, valued at approximately $1,874,931.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is owned by insiders.

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.