PNC Financial Services Group Inc. grew its holdings in Adient plc (NYSE:ADNT – Get Rating) by 23.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,143 shares of the company’s stock after purchasing an additional 2,832 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Adient were worth $525,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. FourThought Financial LLC grew its position in shares of Adient by 19.0% in the third quarter. FourThought Financial LLC now owns 1,838 shares of the company’s stock valued at $51,000 after purchasing an additional 293 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in Adient during the fourth quarter worth approximately $115,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Adient during the first quarter worth approximately $214,000. Profund Advisors LLC acquired a new stake in Adient during the fourth quarter worth approximately $202,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Adient during the fourth quarter worth approximately $238,000. 93.20% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on ADNT. Barclays decreased their price target on shares of Adient from $54.00 to $50.00 in a report on Thursday, May 4th. Benchmark lifted their price target on shares of Adient from $48.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Morgan Stanley lifted their price target on shares of Adient from $29.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, February 9th. Wells Fargo & Company cut their target price on shares of Adient from $50.00 to $49.00 and set an “overweight” rating on the stock in a research note on Monday, April 10th. Finally, Wolfe Research downgraded shares of Adient from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 9th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Adient has a consensus rating of “Hold” and a consensus price target of $46.43.
Adient Stock Performance
Adient (NYSE:ADNT – Get Rating) last posted its earnings results on Wednesday, May 3rd. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.09). Adient had a return on equity of 4.99% and a net margin of 0.08%. The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter last year, the company posted ($0.13) EPS. Adient’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts forecast that Adient plc will post 1.47 EPS for the current fiscal year.
Adient Profile
Adient plc manufactures automotive seating systems. It operates through the following geographical segments: Americas, EMEA, and Asia. The company was founded in 1985 and is headquartered in Plymouth, MI.
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