Van ECK Associates Corp Sells 28,116 Shares of Adient plc (NYSE:ADNT)

Van ECK Associates Corp lowered its position in Adient plc (NYSE:ADNT) by 42.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 38,851 shares of the company’s stock after selling 28,116 shares during the period. Van ECK Associates Corp’s holdings in Adient were worth $1,413,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ADNT. SummerHaven Investment Management LLC lifted its stake in Adient by 1.8% in the 4th quarter. SummerHaven Investment Management LLC now owns 17,327 shares of the company’s stock worth $630,000 after purchasing an additional 310 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in Adient by 22.2% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 77,790 shares of the company’s stock worth $2,828,000 after purchasing an additional 14,137 shares in the last quarter. Watershed Asset Management L.L.C. lifted its stake in Adient by 8.2% in the 4th quarter. Watershed Asset Management L.L.C. now owns 7,818 shares of the company’s stock worth $284,000 after purchasing an additional 595 shares in the last quarter. Jennison Associates LLC lifted its stake in Adient by 35.2% in the 4th quarter. Jennison Associates LLC now owns 22,504 shares of the company’s stock worth $818,000 after purchasing an additional 5,854 shares in the last quarter. Finally, Foundry Partners LLC purchased a new stake in Adient in the 4th quarter worth $3,899,000. Institutional investors own 92.44% of the company’s stock.

Adient Stock Performance

Adient stock opened at $28.88 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.13 and a quick ratio of 0.91. Adient plc has a 1-year low of $26.97 and a 1-year high of $46.51. The firm has a market capitalization of $2.59 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 0.29 and a beta of 2.39. The company’s 50-day moving average is $31.37 and its 200 day moving average is $33.13.

Adient (NYSE:ADNT) last posted 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. Adient had a net margin of 1.04% and a return on equity of 8.72%. The company had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.80 billion. During the same period in the prior year, the company posted $0.32 EPS. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. Research analysts forecast that Adient plc will post 2.53 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on ADNT shares. Barclays decreased their price target on shares of Adient from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Wells Fargo & Company decreased their target price on shares of Adient from $38.00 to $33.00 and set an “overweight” rating on the stock in a research report on Monday. Bank of America decreased their target price on shares of Adient from $50.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. JPMorgan Chase & Co. decreased their target price on shares of Adient from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Monday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Adient from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Monday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.63.

Insiders Place Their Bets

In other Adient news, EVP Heather M. Tiltmann sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $33.68, for a total value of $336,800.00. Following the transaction, the executive vice president now directly owns 55,669 shares in the company, valued at approximately $1,874,931.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

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.