Adient PLC (ADNT) Shares Sold by Lakewood Capital Management LP
Lakewood Capital Management LP lowered its position in shares of Adient PLC (NYSE:ADNT) by 5.5% in the fourth quarter, Holdings Channel reports. The fund owned 2,715,891 shares of the company’s stock after selling 159,099 shares during the quarter. Adient makes up approximately 1.3% of Lakewood Capital Management LP’s portfolio, making the stock its 24th biggest holding. Lakewood Capital Management LP’s holdings in Adient were worth $40,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the business. Oregon Public Employees Retirement Fund increased its holdings in shares of Adient by 1,406.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 553,094 shares of the company’s stock valued at $37,000 after purchasing an additional 516,368 shares during the last quarter. Quantamental Technologies LLC acquired a new stake in shares of Adient in the fourth quarter valued at approximately $91,000. Bank of Montreal Can increased its holdings in shares of Adient by 34.3% in the fourth quarter. Bank of Montreal Can now owns 7,639 shares of the company’s stock valued at $114,000 after purchasing an additional 1,952 shares during the last quarter. D.A. Davidson & CO. increased its holdings in shares of Adient by 7.4% in the fourth quarter. D.A. Davidson & CO. now owns 10,306 shares of the company’s stock valued at $155,000 after purchasing an additional 709 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of Adient by 50.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 11,708 shares of the company’s stock valued at $176,000 after purchasing an additional 3,914 shares during the last quarter.
Several research firms recently commented on ADNT. Royal Bank of Canada cut Adient from a “sector perform” rating to an “underperform” rating and cut their price target for the company from $17.00 to $16.00 in a report on Wednesday, January 23rd. They noted that the move was a valuation call. Deutsche Bank began coverage on Adient in a report on Thursday, December 13th. They issued a “hold” rating for the company. Seaport Global Securities began coverage on Adient in a report on Wednesday, February 13th. They issued a “neutral” rating for the company. Morgan Stanley set a $16.00 price target on Adient and gave the company a “sell” rating in a report on Tuesday, January 29th. Finally, Longbow Research reaffirmed a “buy” rating and issued a $28.00 price target on shares of Adient in a report on Monday, January 28th. Six research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Adient has a consensus rating of “Hold” and a consensus target price of $31.00.
Adient (NYSE:ADNT) last issued its quarterly earnings data on Thursday, February 7th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.17). The business had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.17 billion. Adient had a positive return on equity of 13.15% and a negative net margin of 8.54%. The company’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.06 earnings per share. Equities research analysts predict that Adient PLC will post 2.32 EPS for the current year.
Adient Company Profile
Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. It operates through three segments: Seating, Seat Structures and Mechanisms (SS&M), and Interiors. The Seating segment produces seat systems for automotive and other mobility applications, as well as various components of seat systems, including foams, trims, and fabrics.
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