The Manufacturers Life Insurance Company Trims Stock Position in Adient plc (NYSE:ADNT)

The Manufacturers Life Insurance Company decreased its holdings in Adient plc (NYSE:ADNT) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,968 shares of the company’s stock after selling 2,262 shares during the quarter. The Manufacturers Life Insurance Company owned 0.11% of Adient worth $2,495,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. CWM LLC grew its holdings in Adient by 44.5% during the second quarter. CWM LLC now owns 1,439 shares of the company’s stock valued at $36,000 after purchasing an additional 443 shares during the period. Covestor Ltd raised its stake in Adient by 201.5% during the 1st quarter. Covestor Ltd now owns 3,307 shares of the company’s stock worth $109,000 after acquiring an additional 2,210 shares during the period. Lazard Asset Management LLC purchased a new position in Adient during the first quarter valued at approximately $135,000. Headlands Technologies LLC bought a new position in shares of Adient in the first quarter worth approximately $159,000. Finally, Quadrature Capital Ltd increased its stake in shares of Adient by 46.8% in the fourth quarter. Quadrature Capital Ltd now owns 8,668 shares of the company’s stock worth $315,000 after purchasing an additional 2,764 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Adient Price Performance

ADNT stock opened at $21.36 on Thursday. The company has a fifty day simple moving average of $21.90 and a two-hundred day simple moving average of $25.67. Adient plc has a 52 week low of $19.40 and a 52 week high of $37.19. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $1.92 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 0.59 and a beta of 2.16.

Adient (NYSE:ADNT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.30). Adient had a return on equity of 6.34% and a net margin of 0.50%. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The company’s revenue was down 8.4% on a year-over-year basis. Analysts anticipate that Adient plc will post 1.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ADNT has been the subject of several recent analyst reports. UBS Group dropped their target price on shares of Adient from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $24.00 target price on shares of Adient in a research report on Tuesday, September 10th. Barclays lowered their price target on Adient from $29.00 to $24.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company cut their price objective on shares of Adient from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Finally, Wolfe Research began coverage on shares of Adient in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Adient has an average rating of “Hold” and an average price target of $26.63.

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.