New York State Common Retirement Fund Trims Holdings in Adient plc (NYSE:ADNT)

New York State Common Retirement Fund reduced its stake in shares of Adient plc (NYSE:ADNT) by 6.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,371 shares of the company’s stock after selling 1,687 shares during the quarter. New York State Common Retirement Fund’s holdings in Adient were worth $454,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ADNT. Covestor Ltd raised its position in Adient by 23.2% during the 3rd quarter. Covestor Ltd now owns 5,482 shares of the company’s stock valued at $124,000 after purchasing an additional 1,032 shares in the last quarter. KBC Group NV increased its stake in shares of Adient by 51.8% during the third quarter. KBC Group NV now owns 3,328 shares of the company’s stock valued at $75,000 after buying an additional 1,136 shares during the period. US Bancorp DE increased its stake in shares of Adient by 583.8% during the third quarter. US Bancorp DE now owns 1,860 shares of the company’s stock valued at $42,000 after buying an additional 1,588 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Adient by 8.4% in the third quarter. Victory Capital Management Inc. now owns 20,977 shares of the company’s stock valued at $473,000 after acquiring an additional 1,633 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Adient in the fourth quarter worth about $32,000. 92.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ADNT. JPMorgan Chase & Co. reduced their price target on shares of Adient from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Monday, January 27th. StockNews.com upgraded Adient from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Wells Fargo & Company lowered shares of Adient from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $27.00 to $20.00 in a research report on Monday, December 16th. Bank of America downgraded shares of Adient from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $24.00 to $18.00 in a research report on Tuesday. Finally, Barclays decreased their target price on shares of Adient from $24.00 to $21.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Adient has a consensus rating of “Hold” and an average price target of $20.88.

Adient Stock Down 4.1 %

NYSE:ADNT opened at $14.13 on Wednesday. The firm has a market capitalization of $1.19 billion, a P/E ratio of 706.45, a PEG ratio of 0.34 and a beta of 2.27. The company’s fifty day moving average price is $17.08 and its 200-day moving average price is $19.48. Adient plc has a 1-year low of $13.64 and a 1-year high of $35.94. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.08 and a quick ratio of 0.86.

Adient (NYSE:ADNT) last issued its earnings results on Tuesday, January 28th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.05). Adient had a positive return on equity of 6.94% and a negative net margin of 0.01%. During the same period in the previous year, the company posted $0.31 earnings per share. As a group, equities research analysts anticipate that Adient plc will post 1.76 EPS for the current 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.