Handelsinvest Investeringsforvaltning Trims Stock Position in Adient plc (NYSE:ADNT)

Handelsinvest Investeringsforvaltning reduced its stake in shares of Adient plc (NYSE:ADNT) by 34.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,750 shares of the company’s stock after selling 1,947 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Adient were worth $123,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Teza Capital Management LLC purchased a new stake in shares of Adient in the 3rd quarter worth about $223,000. AQR Capital Management LLC grew its position in shares of Adient by 407.3% in the 3rd quarter. AQR Capital Management LLC now owns 387,662 shares of the company’s stock worth $14,227,000 after buying an additional 311,245 shares during the period. Seven Eight Capital LP bought a new position in Adient in the 3rd quarter worth about $364,000. Tudor Investment Corp Et Al boosted its stake in Adient by 129.8% in the 3rd quarter. Tudor Investment Corp Et Al now owns 263,538 shares of the company’s stock worth $9,672,000 after purchasing an additional 148,846 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Adient by 15.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 671,201 shares of the company’s stock worth $24,633,000 after purchasing an additional 87,678 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Adient Trading Down 0.6 %

Adient stock opened at $24.72 on Thursday. The firm has a 50 day moving average of $27.47 and a 200 day moving average of $31.42. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 0.33 and a beta of 2.19. Adient plc has a 12-month low of $24.22 and a 12-month high of $46.51. The company has a current ratio of 1.13, a quick ratio of 0.91 and a debt-to-equity ratio of 1.00.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Friday, May 3rd. The company reported $0.54 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.80 billion. During the same period last year, the firm posted $0.32 EPS. The company’s revenue was down 4.1% on a year-over-year basis. As a group, research analysts predict that Adient plc will post 2.26 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Barclays dropped 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, May 7th. Bank of America dropped their price target 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. Morgan Stanley dropped their price target on shares of Adient from $35.00 to $32.00 and set an “underweight” rating on the stock in a research note on Friday, May 10th. Wells Fargo & Company dropped their price target on shares of Adient from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 25th. Finally, JPMorgan Chase & Co. lowered their target price 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $37.67.

Insider Buying and Selling at Adient

In other Adient news, Director Peter Carlin sold 4,207 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $28.90, for a total transaction of $121,582.30. Following the completion of the sale, the director now directly owns 28,352 shares of the company’s stock, valued at approximately $819,372.80. 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 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.