Edgestream Partners L.P. Trims Holdings in Adient plc (NYSE:ADNT)

Edgestream Partners L.P. reduced its holdings in Adient plc (NYSE:ADNT) by 49.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,598 shares of the company’s stock after selling 63,133 shares during the quarter. Edgestream Partners L.P. owned about 0.07% of Adient worth $1,458,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. CWM LLC boosted its holdings 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 in the last quarter. US Bancorp DE increased its position in shares of Adient by 583.8% during the third quarter. US Bancorp DE now owns 1,860 shares of the company’s stock valued at $42,000 after buying an additional 1,588 shares during the period. Signaturefd LLC raised its stake in Adient by 493.8% in the third quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock worth $49,000 after buying an additional 1,822 shares in the last quarter. KBC Group NV lifted its holdings in 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 buying an additional 1,136 shares during the period. Finally, Covestor Ltd boosted its position in Adient by 23.2% during the 3rd quarter. Covestor Ltd now owns 5,482 shares of the company’s stock valued at $124,000 after acquiring an additional 1,032 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADNT has been the subject of several research reports. Bank of America lowered Adient from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $30.00 to $24.00 in a research report on Thursday, November 21st. Morgan Stanley decreased their price target on shares of Adient from $21.00 to $19.00 and set an “underweight” rating for the company in a research note on Thursday, November 14th. JPMorgan Chase & Co. lowered their price objective on Adient from $31.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. UBS Group dropped their target price on Adient from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, StockNews.com upgraded Adient from a “hold” rating to a “buy” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $24.38.

Adient Stock Performance

Shares of NYSE ADNT opened at $19.90 on Wednesday. The company has a market cap of $1.69 billion, a PE ratio of 86.52, a PEG ratio of 0.34 and a beta of 2.15. The firm’s 50-day moving average price is $20.86 and its 200-day moving average price is $23.00. Adient plc has a 52-week low of $18.53 and a 52-week high of $37.19. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.98.

Adient (NYSE:ADNT) last released 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 return on equity of 6.86% and a net margin of 0.12%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the business posted $0.51 EPS. As a group, analysts anticipate that Adient plc will post 2.04 EPS for the current year.

Adient 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.