Louisiana State Employees Retirement System Makes New Investment in Adient plc (NYSE:ADNT)

Louisiana State Employees Retirement System acquired a new stake in Adient plc (NYSE:ADNT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 26,300 shares of the company’s stock, valued at approximately $956,000.

A number of other hedge funds have also recently modified their holdings of the company. Verdence Capital Advisors LLC increased its position in shares of Adient by 4.9% in the third quarter. Verdence Capital Advisors LLC now owns 7,820 shares of the company’s stock valued at $287,000 after acquiring an additional 368 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Adient by 1.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,555 shares of the company’s stock valued at $1,562,000 after acquiring an additional 571 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Adient by 20.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,743 shares of the company’s stock valued at $211,000 after acquiring an additional 962 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Adient by 18.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,991 shares of the company’s stock valued at $254,000 after acquiring an additional 1,109 shares during the period. Finally, Barclays PLC increased its position in shares of Adient by 1.7% in the third quarter. Barclays PLC now owns 74,399 shares of the company’s stock valued at $2,730,000 after acquiring an additional 1,258 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Barclays reiterated an “equal weight” rating and set a $37.00 price target (down previously from $41.00) on shares of Adient in a research report on Wednesday, April 10th. Wells Fargo & Company reduced their price target 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. Bank of America reduced their price target 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of Adient from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Monday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $42.43.

Insider Transactions at Adient

In other news, EVP Heather M. Tiltmann sold 10,000 shares of the company’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 value of $336,800.00. Following the transaction, the executive vice president now owns 55,669 shares in the company, valued at $1,874,931.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.30% of the company’s stock.

Adient Trading Up 2.6 %

NYSE:ADNT opened at $29.68 on Thursday. Adient plc has a one year low of $27.73 and a one year high of $46.51. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.15 and a quick ratio of 0.91. The company’s 50-day simple moving average is $32.49 and its 200 day simple moving average is $33.62. The firm has a market capitalization of $2.71 billion, a P/E ratio of 13.25, a PEG ratio of 0.30 and a beta of 2.51.

Adient (NYSE:ADNT) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.16). Adient had a return on equity of 7.90% and a net margin of 1.39%. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the previous year, the firm earned $0.34 EPS. The company’s revenue was up .0% on a year-over-year basis. As a group, analysts forecast that Adient plc will post 2.57 EPS for the current fiscal year.

About Adient

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.