PNC Financial Services Group Inc. Has $426,000 Stock Position in Adient plc (NYSE:ADNT)

PNC Financial Services Group Inc. increased its position in Adient plc (NYSE:ADNT) by 8.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,416 shares of the company’s stock after purchasing an additional 719 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Adient were worth $426,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Swiss National Bank increased its position in Adient by 1.7% in the second quarter. Swiss National Bank now owns 207,298 shares of the company’s stock worth $9,370,000 after purchasing an additional 3,500 shares during the period. American Century Companies Inc. increased its position in Adient by 39.2% in the second quarter. American Century Companies Inc. now owns 7,299 shares of the company’s stock worth $330,000 after purchasing an additional 2,057 shares during the period. US Bancorp DE increased its position in Adient by 30.4% in the second quarter. US Bancorp DE now owns 3,222 shares of the company’s stock worth $146,000 after purchasing an additional 751 shares during the period. Teacher Retirement System of Texas increased its position in Adient by 17.5% in the second quarter. Teacher Retirement System of Texas now owns 11,705 shares of the company’s stock worth $529,000 after purchasing an additional 1,746 shares during the period. Finally, Handelsbanken Fonder AB increased its position in Adient by 27.5% in the second quarter. Handelsbanken Fonder AB now owns 17,160 shares of the company’s stock worth $776,000 after purchasing an additional 3,700 shares during the period. Hedge funds and other institutional investors own 90.25% of the company’s stock.

ADNT has been the subject of several analyst reports. Benchmark decreased their target price on Adient from $59.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, August 9th. Zacks Investment Research upgraded Adient from a “sell” rating to a “hold” rating and set a $43.00 target price for the company in a research report on Thursday, August 12th. Morgan Stanley decreased their target price on Adient from $40.00 to $38.00 and set an “underweight” rating for the company in a research report on Tuesday, August 10th. Credit Suisse Group decreased their target price on Adient from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, August 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Adient from $57.00 to $49.00 and set a “buy” rating on the stock in a report on Friday, August 6th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Adient currently has an average rating of “Hold” and a consensus target price of $49.00.

NYSE ADNT opened at $38.22 on Friday. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 32.67, a PEG ratio of 0.46 and a beta of 3.25. The stock’s 50 day moving average price is $39.60 and its two-hundred day moving average price is $43.22. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.90 and a current ratio of 1.13. Adient plc has a 52 week low of $15.90 and a 52 week high of $53.17.

Adient (NYSE:ADNT) last released its earnings results on Wednesday, August 4th. The company reported ($0.53) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.68). The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.34 billion. Adient had a net margin of 0.77% and a return on equity of 18.97%. The company’s revenue was up 99.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.78) EPS. On average, equities research analysts forecast that Adient plc will post 2.67 EPS for the current year.

Adient Company Profile

Adient plc manufactures automotive seating systems. The firm’s products include Complete Seats, Commercial vehicle seats, Structures & Mechanisms, Foam, Fabrics and Trim. It operates through the following geographical segments: Americas, EMEA and Asia. The company was founded on December 17, 2015 and is headquartered Dublin, Ireland.

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Institutional Ownership by Quarter for Adient (NYSE:ADNT)

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