Pzena Investment Management LLC Trims Stock Holdings in Adient $ADNT

Pzena Investment Management LLC lowered its stake in Adient (NYSE:ADNT) by 1.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 3,635,297 shares of the company’s stock after selling 41,773 shares during the quarter. Pzena Investment Management LLC’s holdings in Adient were worth $73,469,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ADNT. Leonteq Securities AG purchased a new stake in Adient in the 4th quarter worth approximately $30,000. Quarry LP lifted its holdings in Adient by 163.9% during the third quarter. Quarry LP now owns 2,304 shares of the company’s stock valued at $55,000 after purchasing an additional 1,431 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Adient during the second quarter valued at approximately $63,000. Los Angeles Capital Management LLC bought a new position in shares of Adient in the fourth quarter worth approximately $64,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Adient in the fourth quarter worth $96,000. 92.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Adient

In other news, EVP Heather M. Tiltmann sold 22,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $22.71, for a total transaction of $499,620.00. Following the completion of the transaction, the executive vice president owned 110,886 shares in the company, valued at $2,518,221.06. This trade represents a 16.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.94% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADNT. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $31.00 target price on shares of Adient in a research note on Thursday, May 7th. JPMorgan Chase & Co. decreased their price target on Adient from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. Barclays raised their price target on Adient from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. UBS Group upped their price objective on Adient from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Wells Fargo & Company increased their target price on Adient from $28.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $28.44.

Adient Price Performance

Shares of NYSE:ADNT opened at $18.14 on Thursday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.91 and a current ratio of 1.10. The firm has a fifty day moving average price of $21.49 and a 200 day moving average price of $21.54. Adient has a fifty-two week low of $17.68 and a fifty-two week high of $27.32. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 0.36 and a beta of 1.53.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.62 billion. Adient had a net margin of 0.39% and a return on equity of 7.28%. Adient’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS. As a group, sell-side analysts expect that Adient will post 2.1 earnings per share for the current fiscal year.

Adient Company Profile

Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.