Sensato Investors LLC acquired a new stake in shares of Visteon Corp (NYSE:VC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 19,400 shares of the auto parts company’s stock, valued at approximately $2,428,000. Sensato Investors LLC owned about 0.06% of Visteon at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. Teachers Advisors LLC raised its stake in Visteon by 4.4% during the fourth quarter. Teachers Advisors LLC now owns 273,527 shares of the auto parts company’s stock valued at $34,229,000 after buying an additional 11,467 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Visteon by 9.4% in the 4th quarter. Raymond James & Associates now owns 11,726 shares of the auto parts company’s stock worth $1,467,000 after purchasing an additional 1,010 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Visteon by 51.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 216,900 shares of the auto parts company’s stock worth $27,143,000 after purchasing an additional 73,880 shares in the last quarter. Stone Ridge Asset Management LLC bought a new stake in shares of Visteon in the 4th quarter worth $1,935,000. Finally, Jefferies Group LLC increased its holdings in shares of Visteon by 267.6% in the 4th quarter. Jefferies Group LLC now owns 19,907 shares of the auto parts company’s stock worth $2,491,000 after purchasing an additional 14,491 shares in the last quarter.
In related news, CEO Sachin Lawande sold 1,539 shares of Visteon stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $123.62, for a total value of $190,251.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 11,539 shares of company stock valued at $1,474,051 in the last ninety days. 0.19% of the stock is currently owned by corporate insiders.
Visteon (NYSE:VC) last issued its quarterly earnings data on Thursday, February 22nd. The auto parts company reported $1.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($0.09). Visteon had a return on equity of 29.13% and a net margin of 4.83%. The firm had revenue of $797.00 million during the quarter, compared to the consensus estimate of $797.55 million. During the same period in the previous year, the firm earned $1.55 EPS. The business’s revenue was down 2.3% on a year-over-year basis. analysts forecast that Visteon Corp will post 6.23 EPS for the current fiscal year.
Visteon announced that its board has initiated a stock buyback plan on Tuesday, January 16th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the auto parts company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
A number of analysts have commented on the company. Zacks Investment Research lowered Visteon from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Gabelli raised Visteon from a “hold” rating to a “buy” rating and set a $158.00 target price for the company in a report on Monday, February 26th. Guggenheim set a $145.00 target price on Visteon and gave the stock a “buy” rating in a report on Friday, February 23rd. BMO Capital Markets set a $160.00 target price on Visteon and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Morgan Stanley lifted their target price on Visteon from $112.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. Visteon presently has an average rating of “Buy” and a consensus price target of $137.76.
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Visteon Company Profile
Visteon Corporation is a global automotive supplier that designs, engineers and manufactures electronics products for original equipment vehicle manufacturer (OEM), including Ford, Mazda, Nissan/Renault, General Motors, Honda BMW and Daimler. The Company operates through Electronics segment. The Electronics segment provides vehicle cockpit electronics products to customers, including instrument clusters, information displays, infotainment, audio systems, telematics solutions and head up displays.
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