Gabelli Funds LLC trimmed its position in Adient PLC (NYSE:ADNT) by 36.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,044 shares of the company’s stock after selling 12,713 shares during the period. Gabelli Funds LLC’s holdings in Adient were worth $867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Adient by 1.0% in the 2nd quarter. BlackRock Inc. now owns 4,186,894 shares of the company’s stock valued at $205,956,000 after buying an additional 42,091 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Adient by 9.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,962,321 shares of the company’s stock valued at $117,268,000 after buying an additional 172,385 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Adient by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,851,363 shares of the company’s stock valued at $91,068,000 after buying an additional 76,106 shares in the last quarter. Newtyn Management LLC lifted its stake in Adient by 34.3% in the 2nd quarter. Newtyn Management LLC now owns 1,800,000 shares of the company’s stock valued at $88,542,000 after buying an additional 460,000 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. lifted its stake in Adient by 22.6% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 1,299,232 shares of the company’s stock valued at $63,909,000 after buying an additional 239,108 shares in the last quarter.

Shares of ADNT stock traded down $1.11 during trading on Friday, hitting $21.00. 2,143,394 shares of the stock traded hands, compared to its average volume of 1,971,558. The firm has a market cap of $2.06 billion, a PE ratio of 3.74, a PEG ratio of 0.42 and a beta of 0.61. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.83 and a current ratio of 1.03. Adient PLC has a 52-week low of $20.84 and a 52-week high of $84.59.

Adient (NYSE:ADNT) last released its quarterly earnings results on Friday, November 9th. The company reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.04. Adient had a negative net margin of 9.66% and a positive return on equity of 13.51%. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the previous year, the company earned $2.34 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities research analysts predict that Adient PLC will post 4.4 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Wednesday, October 24th were issued a $0.275 dividend. The ex-dividend date was Tuesday, October 23rd. This represents a $1.10 annualized dividend and a yield of 5.24%. Adient’s dividend payout ratio (DPR) is presently 19.57%.

A number of research analysts recently weighed in on ADNT shares. Morgan Stanley decreased their price target on shares of Adient from $43.00 to $20.00 and set a “sell” rating on the stock in a research note on Wednesday, November 14th. Robert W. Baird decreased their price target on shares of Adient from $42.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday, November 12th. Zacks Investment Research raised shares of Adient from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 14th. Barclays reaffirmed a “hold” rating and issued a $28.00 price target on shares of Adient in a research note on Tuesday, November 13th. Finally, Royal Bank of Canada decreased their target price on shares of Adient to $21.00 and set a “sector perform” rating on the stock in a research note on Monday, November 12th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $41.25.

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About Adient

Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company operates through two segments, Seating and Interiors. The Seating segment produces automotive seat metal structures and mechanisms, foams, trims, fabrics, and seat systems.

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Institutional Ownership by Quarter for Adient (NYSE:ADNT)

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