Edgestream Partners L.P. Decreases Stake in Adient plc (NYSE:ADNT)

Edgestream Partners L.P. lowered its stake in shares of Adient plc (NYSE:ADNT - Free Report) by 49.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,598 shares of the company's stock after selling 63,133 shares during the period. Edgestream Partners L.P. owned about 0.07% of Adient worth $1,458,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ADNT. Price T Rowe Associates Inc. MD boosted its position in Adient by 5.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,647 shares of the company's stock worth $1,865,000 after acquiring an additional 2,687 shares during the last quarter. Boston Partners grew its position in shares of Adient by 12.2% during the 1st quarter. Boston Partners now owns 19,661 shares of the company's stock valued at $647,000 after acquiring an additional 2,139 shares during the period. CWM LLC lifted its position in Adient by 44.5% in the second quarter. CWM LLC now owns 1,439 shares of the company's stock valued at $36,000 after acquiring an additional 443 shares during the last quarter. SG Americas Securities LLC lifted its position in Adient by 7.7% in the second quarter. SG Americas Securities LLC now owns 31,979 shares of the company's stock valued at $790,000 after acquiring an additional 2,296 shares during the last quarter. Finally, SummerHaven Investment Management LLC lifted its position in Adient by 3.2% in the second quarter. SummerHaven Investment Management LLC now owns 18,167 shares of the company's stock valued at $449,000 after acquiring an additional 556 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on ADNT. Wells Fargo & Company cut their target price on Adient from $29.00 to $27.00 and set an "overweight" rating for the company in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $24.00 price target on shares of Adient in a report on Tuesday, September 10th. Barclays dropped their target price on shares of Adient from $29.00 to $24.00 and set an "equal weight" rating for the company in a research report on Thursday, August 8th. StockNews.com upgraded Adient from a "hold" rating to a "buy" rating in a report on Monday, November 11th. Finally, Bank of America cut shares of Adient from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $30.00 to $24.00 in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Adient presently has an average rating of "Hold" and a consensus target price of $24.38.

Adient Stock Up 2.1 %

ADNT traded up $0.42 on Wednesday, reaching $20.32. 800,375 shares of the company traded hands, compared to its average volume of 1,231,693. Adient plc has a 52-week low of $18.53 and a 52-week high of $37.19. The stock's 50 day moving average price is $20.86 and its 200-day moving average price is $23.00. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.11 and a quick ratio of 0.90. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 88.13, a PEG ratio of 0.34 and a beta of 2.15.

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