Adient plc (NYSE:ADNT) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its stake in Adient plc (NYSE:ADNT - Free Report) by 11.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 403,727 shares of the company's stock after selling 50,056 shares during the quarter. Ameriprise Financial Inc. owned 0.48% of Adient worth $6,956,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ADNT. Pzena Investment Management LLC increased its position in Adient by 28.5% during the fourth quarter. Pzena Investment Management LLC now owns 3,629,452 shares of the company's stock valued at $62,535,000 after acquiring an additional 803,961 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Adient during the fourth quarter worth about $11,395,000. HITE Hedge Asset Management LLC grew its holdings in Adient by 122.4% during the 4th quarter. HITE Hedge Asset Management LLC now owns 816,286 shares of the company's stock valued at $14,065,000 after buying an additional 449,272 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Adient by 96.5% during the 4th quarter. JPMorgan Chase & Co. now owns 802,540 shares of the company's stock valued at $13,828,000 after buying an additional 394,111 shares in the last quarter. Finally, Trexquant Investment LP lifted its stake in shares of Adient by 169.0% in the 4th quarter. Trexquant Investment LP now owns 553,413 shares of the company's stock valued at $9,535,000 after purchasing an additional 347,695 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ADNT shares. Citigroup began coverage on Adient in a report on Wednesday, April 23rd. They set a "neutral" rating and a $14.00 price objective for the company. Bank of America cut Adient from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $24.00 to $18.00 in a report on Tuesday, March 4th. UBS Group upped their target price on Adient from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Morgan Stanley lowered their target price on Adient from $17.00 to $16.00 and set an "underweight" rating for the company in a report on Monday, May 19th. Finally, Wall Street Zen upgraded Adient from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $18.22.

Adient Stock Performance

Shares of ADNT stock traded down $0.06 during mid-day trading on Wednesday, reaching $15.44. The stock had a trading volume of 28,189 shares, compared to its average volume of 1,414,037. The business's fifty day moving average is $13.07 and its 200-day moving average is $15.91. The company has a current ratio of 1.08, a quick ratio of 0.86 and a debt-to-equity ratio of 1.11. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 770.25, a PEG ratio of 0.34 and a beta of 1.60. Adient plc has a 1-year low of $10.04 and a 1-year high of $28.48.

Adient (NYSE:ADNT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.33. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. Adient had a positive return on equity of 6.94% and a negative net margin of 0.01%. The company's revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 earnings per share. On average, research analysts forecast that Adient plc will post 1.76 earnings per share for the current year.

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.