State of Tennessee Department of Treasury Has $371,000 Stock Holdings in Adient plc (NYSE:ADNT)

State of Tennessee Department of Treasury reduced its position in Adient plc (NYSE:ADNT) by 4.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 21,542 shares of the company’s stock after selling 943 shares during the period. State of Tennessee Department of Treasury’s holdings in Adient were worth $371,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MetLife Investment Management LLC lifted its position in shares of Adient by 5.7% in the fourth quarter. MetLife Investment Management LLC now owns 54,838 shares of the company’s stock valued at $945,000 after buying an additional 2,937 shares during the last quarter. First Trust Advisors LP raised its stake in Adient by 3.2% in the 4th quarter. First Trust Advisors LP now owns 162,886 shares of the company’s stock valued at $2,807,000 after acquiring an additional 5,097 shares during the period. HITE Hedge Asset Management LLC lifted its holdings in Adient by 122.4% during the 4th quarter. HITE Hedge Asset Management LLC now owns 816,286 shares of the company’s stock valued at $14,065,000 after purchasing an additional 449,272 shares during the last quarter. Marshall Wace LLP bought a new position in Adient during the fourth quarter worth $960,000. Finally, Jump Financial LLC boosted its position in Adient by 464.6% during the fourth quarter. Jump Financial LLC now owns 163,729 shares of the company’s stock worth $2,821,000 after purchasing an additional 134,729 shares during the period. Institutional investors own 92.44% of the company’s stock.

Adient Stock Performance

NYSE ADNT opened at $12.76 on Monday. The firm’s 50 day simple moving average is $13.04 and its 200 day simple moving average is $16.58. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 638.00, a P/E/G ratio of 0.34 and a beta of 1.60. The company has a current ratio of 1.08, a quick ratio of 0.86 and a debt-to-equity ratio of 1.11. Adient plc has a 1 year low of $10.04 and a 1 year high of $30.29.

Analyst Ratings Changes

ADNT has been the subject of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of Adient from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Morgan Stanley decreased their target price on Adient from $19.00 to $17.00 and set an “underweight” rating on the stock in a research report on Monday, March 3rd. Barclays cut Adient from an “equal weight” rating to a “negative” rating in a report on Tuesday, April 15th. Bank of America lowered Adient from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $24.00 to $18.00 in a report on Tuesday, March 4th. Finally, StockNews.com raised Adient from a “hold” rating to a “buy” rating in a report on Saturday, April 26th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Adient has an average rating of “Hold” and a consensus target price of $18.44.

About Adient

Adient plc engages in the design, development, manufacture, and market of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's automotive seating solutions include complete seating systems, frames, mechanisms, foams, head restraints, armrests, and trim covers.