Adient $ADNT Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Adient (NYSE:ADNT) by 3.7% in the first quarter, currently holding 1,051,259 shares valued at approximately $13.52 million.
• Institutional investors own 92.44% of Adient's stock, with several hedge funds recently increasing their positions, including Northern Trust Corp and UBS AM.
• Adient's recent earnings report showed a miss on earnings per share estimates, reporting $0.45 against a consensus of $0.47, while revenues exceeded estimates at $3.74 billion.

Charles Schwab Investment Management Inc. trimmed its holdings in Adient (NYSE:ADNT - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,051,259 shares of the company's stock after selling 40,013 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.25% of Adient worth $13,519,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in shares of Adient during the 4th quarter worth about $25,000. GAMMA Investing LLC raised its holdings in Adient by 157.5% in the 1st quarter. GAMMA Investing LLC now owns 2,235 shares of the company's stock valued at $29,000 after acquiring an additional 1,367 shares during the last quarter. CWM LLC raised its holdings in Adient by 91.4% in the 1st quarter. CWM LLC now owns 3,426 shares of the company's stock valued at $44,000 after acquiring an additional 1,636 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Adient by 75.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,597 shares of the company's stock valued at $72,000 after acquiring an additional 2,415 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Adient during the 1st quarter worth approximately $160,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ADNT shares. Bank of America raised their price target on shares of Adient from $15.00 to $17.50 and gave the stock an "underperform" rating in a report on Monday, June 16th. Stifel Nicolaus started coverage on shares of Adient in a research report on Thursday, August 21st. They issued a "buy" rating and a $27.00 price target for the company. UBS Group lifted their price objective on shares of Adient from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Zacks Research cut shares of Adient from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Finally, Wall Street Zen upgraded shares of Adient from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Adient currently has an average rating of "Reduce" and an average price target of $21.72.

Adient Price Performance

ADNT traded down $0.26 during trading on Friday, reaching $24.82. 760,033 shares of the stock were exchanged, compared to its average volume of 1,246,491. The business's 50 day moving average price is $22.44 and its two-hundred day moving average price is $17.29. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.12 and a quick ratio of 0.92. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -9.37, a P/E/G ratio of 0.83 and a beta of 1.72. Adient has a 1 year low of $10.04 and a 1 year high of $25.84.

Adient (NYSE:ADNT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.02). The firm had revenue of $3.74 billion for the quarter, compared to analysts' expectations of $3.56 billion. Adient had a positive return on equity of 8.25% and a negative net margin of 1.53%.The firm's revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 earnings per share. As a group, equities research analysts anticipate that Adient 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.