Voya Investment Management LLC Reduces Stock Position in Adient plc (NYSE:ADNT)

Voya Investment Management LLC lessened its position in Adient plc (NYSE:ADNT) by 8.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 25,999 shares of the company’s stock after selling 2,506 shares during the period. Voya Investment Management LLC’s holdings in Adient were worth $448,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd bought a new stake in Adient in the fourth quarter valued at $32,000. IFP Advisors Inc lifted its position in shares of Adient by 6,924.2% in the 4th quarter. IFP Advisors Inc now owns 2,318 shares of the company’s stock worth $40,000 after purchasing an additional 2,285 shares during the period. Sterling Capital Management LLC boosted its stake in shares of Adient by 803.6% during the 4th quarter. Sterling Capital Management LLC now owns 2,738 shares of the company’s stock valued at $47,000 after purchasing an additional 2,435 shares in the last quarter. Oarsman Capital Inc. increased its position in shares of Adient by 98.7% during the fourth quarter. Oarsman Capital Inc. now owns 2,966 shares of the company’s stock valued at $51,000 after buying an additional 1,473 shares during the period. Finally, KBC Group NV raised its stake in Adient by 62.3% in the fourth quarter. KBC Group NV now owns 5,402 shares of the company’s stock worth $93,000 after buying an additional 2,074 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

Adient Trading Up 7.4 %

Shares of NYSE:ADNT opened at $14.79 on Friday. Adient plc has a 1 year low of $10.04 and a 1 year high of $30.29. The stock’s fifty day moving average price is $12.83 and its 200-day moving average price is $16.32. The company has a market cap of $1.24 billion, a P/E ratio of 739.50, a PEG ratio of 0.34 and a beta of 1.60. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.08 and a quick ratio of 0.86.

Adient (NYSE:ADNT) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.33. Adient had a negative net margin of 0.01% and a positive return on equity of 6.94%. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the previous year, the company earned $0.54 earnings per share. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. Sell-side analysts expect that Adient plc will post 1.76 earnings per share for the current year.

Analysts Set New Price Targets

ADNT has been the subject of a number of research analyst reports. Citigroup started coverage on Adient in a research note on Wednesday, April 23rd. They issued a “neutral” rating and a $14.00 target price for the company. Wells Fargo & Company boosted their target price on shares of Adient from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday. UBS Group increased their price target on shares of Adient from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday. Bank of America cut shares of Adient from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $24.00 to $18.00 in a report on Tuesday, March 4th. Finally, Morgan Stanley reduced their price objective on Adient from $19.00 to $17.00 and set an “underweight” rating for the company in a research report on Monday, March 3rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $18.00.

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.