Adient $ADNT Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. cut its stake in Adient by 90.8%, reducing its holdings to 6,215 shares worth $80,000 as of the latest filing.
• Adient's stock has seen several target price upgrades from analysts, with Bank of America raising its target from $15.00 to $17.50, while other firms like Stifel Nicolaus set a target of $27.00 with a "buy" rating.
• The company reported a $0.45 EPS for its last quarter, slightly missing analysts' expectations, though revenue was up 0.7% year-over-year at $3.74 billion.

Russell Investments Group Ltd. decreased its position in Adient (NYSE:ADNT - Free Report) by 90.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,215 shares of the company's stock after selling 61,138 shares during the period. Russell Investments Group Ltd.'s holdings in Adient were worth $80,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADNT. Public Sector Pension Investment Board raised its holdings in Adient by 22.5% in the first quarter. Public Sector Pension Investment Board now owns 266,136 shares of the company's stock worth $3,423,000 after purchasing an additional 48,910 shares in the last quarter. Nuveen LLC purchased a new position in shares of Adient during the 1st quarter worth approximately $3,521,000. Aigen Investment Management LP purchased a new position in Adient during the first quarter worth $263,000. Virtu Financial LLC acquired a new position in shares of Adient during the first quarter worth about $200,000. Finally, Entropy Technologies LP bought a new stake in Adient in the first quarter valued at about $138,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADNT has been the topic of a number of research reports. Morgan Stanley upped their price target on shares of Adient from $16.00 to $17.00 and gave the stock an "underweight" rating in a research note on Tuesday, August 12th. Cfra Research raised shares of Adient from a "moderate sell" rating to a "hold" rating in a research report on Thursday, August 7th. Bank of America boosted their price target on shares of Adient from $15.00 to $17.50 and gave the stock an "underperform" rating in a research report on Monday, June 16th. Wells Fargo & Company boosted their price objective on shares of Adient from $18.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Finally, Zacks Research downgraded shares of Adient from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Adient presently has an average rating of "Reduce" and an average price target of $21.72.

Adient Stock Down 0.2%

Shares of Adient stock traded down $0.06 during trading on Monday, hitting $24.52. The company's stock had a trading volume of 479,198 shares, compared to its average volume of 1,413,419. Adient has a 52 week low of $10.04 and a 52 week high of $25.84. The company has a fifty day simple moving average of $22.94 and a two-hundred day simple moving average of $17.54. The company has a market capitalization of $1.99 billion, a PE ratio of -9.24, a P/E/G ratio of 0.81 and a beta of 1.76. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.92 and a current ratio of 1.12.

Adient (NYSE:ADNT - Get Free Report) last released 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 the consensus estimate of $3.56 billion. Adient had a positive return on equity of 8.25% and a negative net margin of 1.53%.Adient's revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 EPS. Equities research analysts predict that Adient will post 1.76 earnings per share 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.