The Manufacturers Life Insurance Company Sells 57,747 Shares of Adient plc (NYSE:ADNT)

The Manufacturers Life Insurance Company lowered its holdings in Adient plc (NYSE:ADNT - Free Report) by 57.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,221 shares of the company's stock after selling 57,747 shares during the period. The Manufacturers Life Insurance Company's holdings in Adient were worth $975,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CWM LLC increased its position in shares of Adient by 44.5% in the second quarter. CWM LLC now owns 1,439 shares of the company's stock worth $36,000 after purchasing an additional 443 shares during the period. SG Americas Securities LLC increased its holdings in Adient by 7.7% in the 2nd quarter. SG Americas Securities LLC now owns 31,979 shares of the company's stock valued at $790,000 after buying an additional 2,296 shares during the period. SummerHaven Investment Management LLC increased its holdings in Adient by 3.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 18,167 shares of the company's stock valued at $449,000 after buying an additional 556 shares during the period. Bank of New York Mellon Corp raised its position in shares of Adient by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 923,881 shares of the company's stock valued at $22,829,000 after buying an additional 5,426 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Adient by 16.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,532 shares of the company's stock worth $507,000 after acquiring an additional 2,853 shares during the period. Institutional investors and hedge funds own 92.44% of the company's stock.

Adient Trading Down 0.6 %

Shares of Adient stock traded down $0.11 during midday trading on Friday, reaching $18.96. The company had a trading volume of 716,896 shares, compared to its average volume of 1,222,106. The stock has a fifty day moving average price of $20.45 and a 200 day moving average price of $22.66. Adient plc has a fifty-two week low of $18.53 and a fifty-two week high of $37.19. The firm has a market cap of $1.61 billion, a PE ratio of 82.93, a P/E/G ratio of 0.32 and a beta of 2.15. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.11 and a quick ratio of 0.90.

Adient (NYSE:ADNT - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.12. The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.47 billion. Adient had a net margin of 0.12% and a return on equity of 6.86%. The company's revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.51 EPS. On average, equities analysts anticipate that Adient plc will post 2.04 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ADNT. Bank of America cut shares of Adient from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $30.00 to $24.00 in a research note on Thursday, November 21st. Wells Fargo & Company lowered their price target on Adient from $29.00 to $27.00 and set an "overweight" rating for the company in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $24.00 price objective on shares of Adient in a research note on Tuesday, September 10th. Wolfe Research assumed coverage on Adient in a research note on Thursday, September 5th. They set a "peer perform" rating for the company. Finally, Morgan Stanley dropped their target price on shares of Adient from $21.00 to $19.00 and set an "underweight" rating for the company in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Adient has an average rating of "Hold" and an average price target of $24.38.

Insider Activity

In other Adient news, EVP James Conklin sold 11,500 shares of the firm's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $20.25, for a total value of $232,875.00. Following the completion of the sale, the executive vice president now directly owns 51,829 shares in the company, valued at approximately $1,049,537.25. This trade represents a 18.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.

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.