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

Bank of New York Mellon Corp lessened its stake in shares of Adient plc (NYSE:ADNT - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 724,033 shares of the company's stock after selling 45,083 shares during the quarter. Bank of New York Mellon Corp owned about 0.86% of Adient worth $12,475,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake 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 acquiring an additional 1,857 shares in the last quarter. R Squared Ltd acquired a new position in shares of Adient during the 4th quarter worth about $32,000. IFP Advisors Inc lifted its position in shares of Adient by 6,924.2% during the 4th quarter. IFP Advisors Inc now owns 2,318 shares of the company's stock worth $40,000 after purchasing an additional 2,285 shares during the last quarter. US Bancorp DE lifted its position in shares of Adient by 583.8% during the 3rd quarter. US Bancorp DE now owns 1,860 shares of the company's stock worth $42,000 after purchasing an additional 1,588 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Adient by 51.8% during the 3rd 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 last quarter. Institutional investors own 92.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Barclays cut their price objective on Adient from $24.00 to $21.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 22nd. Wells Fargo & Company cut Adient from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $27.00 to $20.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. cut their price objective on Adient from $24.00 to $21.00 and set a "neutral" rating for the company in a research report on Monday, January 27th. StockNews.com cut Adient from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, Morgan Stanley cut their price target on Adient from $19.00 to $17.00 and set an "underweight" rating for the company in a report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, Adient has a consensus rating of "Hold" and an average target price of $20.88.

Remove Ads

Adient Price Performance

Shares of ADNT stock traded up $0.77 during trading hours on Friday, hitting $14.25. The company had a trading volume of 1,392,509 shares, compared to its average volume of 1,209,759. Adient plc has a 12 month low of $13.44 and a 12 month high of $34.16. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 712.25, a PEG ratio of 0.34 and a beta of 2.27. The firm's fifty day moving average is $16.59 and its 200 day moving average is $19.03. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.86 and a current ratio of 1.08.

Adient (NYSE:ADNT - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate 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 period in the prior year, the business earned $0.31 earnings per share. On average, sell-side analysts predict that Adient plc will post 1.76 EPS for the current fiscal year.

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.