State of New Jersey Common Pension Fund D Sells 13,245 Shares of Adient plc (NYSE:ADNT)

State of New Jersey Common Pension Fund D lowered its stake in Adient plc (NYSE:ADNT) by 16.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 68,807 shares of the company’s stock after selling 13,245 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.08% of Adient worth $1,700,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ADNT. CWM LLC boosted its position in shares of Adient by 44.5% during the second quarter. CWM LLC now owns 1,439 shares of the company’s stock worth $36,000 after buying an additional 443 shares during the period. Covestor Ltd boosted its position in Adient by 201.5% during the 1st quarter. Covestor Ltd now owns 3,307 shares of the company’s stock worth $109,000 after acquiring an additional 2,210 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Adient during the 1st quarter worth approximately $135,000. Headlands Technologies LLC bought a new position in shares of Adient during the 1st quarter worth approximately $159,000. Finally, Verdence Capital Advisors LLC raised its holdings in shares of Adient by 6.4% in the first quarter. Verdence Capital Advisors LLC now owns 8,342 shares of the company’s stock valued at $275,000 after purchasing an additional 501 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on ADNT shares. Barclays reduced their target price on shares of Adient from $29.00 to $24.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. decreased their price objective on Adient from $31.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. UBS Group lowered their target price on Adient from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. BNP Paribas raised Adient from an “underperform” rating to a “neutral” rating and set a $26.00 price target for the company in a research report on Monday, July 1st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $24.00 price target on shares of Adient in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $26.63.

Adient Stock Up 1.7 %

ADNT opened at $22.49 on Wednesday. The stock’s fifty day simple moving average is $22.57 and its 200 day simple moving average is $26.48. Adient plc has a 1-year low of $19.40 and a 1-year high of $37.36. The stock has a market cap of $2.02 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.53 and a beta of 2.16. The company has a current ratio of 1.08, a quick ratio of 0.87 and a debt-to-equity ratio of 1.08.

Adient (NYSE:ADNT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.30). Adient had a net margin of 0.50% and a return on equity of 6.34%. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the previous year, the company earned $0.98 earnings per share. Adient’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, research analysts expect that Adient plc will post 1.77 earnings per share for the current 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.