Bank of New York Mellon Corp Has $12.48 Million Stake in Adient plc (NYSE:ADNT)

Bank of New York Mellon Corp reduced its stake in Adient plc (NYSE:ADNT) by 5.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 724,033 shares of the company’s stock after selling 45,083 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.86% of Adient worth $12,475,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its holdings in shares of Adient by 10,316.7% during the 4th quarter. Versant Capital Management Inc now owns 1,875 shares of the company’s stock worth $32,000 after buying an additional 1,857 shares during the period. R Squared Ltd bought a new stake in Adient during the fourth quarter valued at about $32,000. IFP Advisors Inc grew its position in shares of Adient by 6,924.2% in the fourth quarter. IFP Advisors Inc now owns 2,318 shares of the company’s stock valued at $40,000 after purchasing an additional 2,285 shares during the last quarter. US Bancorp DE grew its position in shares of Adient by 583.8% in the third quarter. US Bancorp DE now owns 1,860 shares of the company’s stock valued at $42,000 after purchasing an additional 1,588 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Adient by 51.8% in the third quarter. KBC Group NV now owns 3,328 shares of the company’s stock worth $75,000 after purchasing an additional 1,136 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Adient Trading Down 2.2 %

Shares of ADNT stock opened at $14.02 on Thursday. The company has a market capitalization of $1.18 billion, a P/E ratio of 700.75, a P/E/G ratio of 0.34 and a beta of 2.27. Adient plc has a 12-month low of $13.64 and a 12-month high of $35.05. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.11. The firm has a 50-day moving average price of $16.71 and a 200 day moving average price of $19.15.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered shares of Adient from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $27.00 to $20.00 in a research report on Monday, December 16th. StockNews.com lowered shares of Adient from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. UBS Group lifted their target price on Adient from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Barclays lowered their price target on Adient from $24.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on Adient from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Two analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.88.

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.