Loews Corp Sells 15,000 Shares of Adient plc (NYSE:ADNT)

Loews Corp reduced its stake in shares of Adient plc (NYSE:ADNTGet Rating) by 9.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 140,000 shares of the company’s stock after selling 15,000 shares during the period. Loews Corp’s holdings in Adient were worth $6,703,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Ellevest Inc. lifted its stake in Adient by 792.3% in the fourth quarter. Ellevest Inc. now owns 1,044 shares of the company’s stock worth $50,000 after purchasing an additional 927 shares during the last quarter. Covestor Ltd bought a new stake in Adient in the fourth quarter worth $66,000. FourThought Financial LLC lifted its stake in Adient by 36,420.0% in the third quarter. FourThought Financial LLC now owns 1,826 shares of the company’s stock worth $75,000 after purchasing an additional 1,821 shares during the last quarter. Point72 Hong Kong Ltd lifted its stake in Adient by 12.8% in the third quarter. Point72 Hong Kong Ltd now owns 2,610 shares of the company’s stock worth $108,000 after purchasing an additional 296 shares during the last quarter. Finally, Cubic Asset Management LLC bought a new stake in Adient in the third quarter worth $208,000. 94.09% of the stock is owned by institutional investors.

Several analysts have weighed in on the stock. Exane BNP Paribas assumed coverage on shares of Adient in a research note on Monday, April 11th. They issued a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Adient from $59.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, April 21st. StockNews.com upgraded shares of Adient from a “sell” rating to a “hold” rating in a research report on Wednesday, May 11th. Wells Fargo & Company decreased their price objective on shares of Adient from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, April 1st. Finally, BNP Paribas initiated coverage on shares of Adient in a research report on Monday, April 11th. They issued a “neutral” rating and a $32.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Adient presently has an average rating of “Hold” and an average price target of $42.40.

Shares of NYSE ADNT traded up $0.70 during midday trading on Thursday, hitting $32.19. 1,313,755 shares of the company traded hands, compared to its average volume of 1,066,515. Adient plc has a 12-month low of $28.48 and a 12-month high of $53.17. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.91 and a current ratio of 1.18. The stock has a 50-day moving average price of $35.11 and a 200 day moving average price of $41.69. The firm has a market cap of $3.05 billion, a P/E ratio of 4.10, a P/E/G ratio of 2.04 and a beta of 2.82.

Adient (NYSE:ADNTGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.28). Adient had a net margin of 5.80% and a negative return on equity of 4.92%. During the same quarter in the previous year, the firm posted $1.15 EPS. As a group, equities analysts expect that Adient plc will post 0.42 earnings per share for the current year.

In other Adient news, EVP Jerome J. Dorlack sold 7,600 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $31.29, for a total value of $237,804.00. Following the sale, the executive vice president now owns 113,484 shares in the company, valued at $3,550,914.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.36% of the stock is currently owned by corporate insiders.

About Adient (Get Rating)

Adient plc designs, develops, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's seating solutions include frames, mechanisms, foams, head restraints, armrests, and trim covers. It serves automotive original equipment manufacturers in the Americas, including North America and South America; Europe, Middle East, and Africa; and Asia Pacific.

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Institutional Ownership by Quarter for Adient (NYSE:ADNT)

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