Visteon Corporation $VC Position Reduced by Clearbridge Investments LLC

Clearbridge Investments LLC cut its position in shares of Visteon Corporation (NASDAQ:VC) by 8.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,293 shares of the company’s stock after selling 7,223 shares during the quarter. Clearbridge Investments LLC owned 0.30% of Visteon worth $7,826,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada grew its position in Visteon by 389.3% during the 1st quarter. Royal Bank of Canada now owns 21,992 shares of the company’s stock worth $1,707,000 after purchasing an additional 17,497 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Visteon by 31.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 249,564 shares of the company’s stock worth $19,371,000 after purchasing an additional 59,764 shares in the last quarter. Amundi grew its position in Visteon by 1.3% during the 2nd quarter. Amundi now owns 6,862 shares of the company’s stock worth $706,000 after purchasing an additional 86 shares in the last quarter. Jump Financial LLC grew its position in Visteon by 43.0% during the 2nd quarter. Jump Financial LLC now owns 16,833 shares of the company’s stock worth $1,571,000 after purchasing an additional 5,059 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in Visteon during the 2nd quarter worth approximately $1,150,000. 99.71% of the stock is owned by hedge funds and other institutional investors.

Visteon Stock Performance

Shares of VC opened at $117.70 on Thursday. The company’s 50 day moving average price is $107.91 and its 200 day moving average price is $100.54. Visteon Corporation has a 52 week low of $83.49 and a 52 week high of $129.10. The company has a market capitalization of $3.14 billion, a PE ratio of 14.34, a PEG ratio of 1.50 and a beta of 1.26. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.43 and a current ratio of 1.73.

Visteon (NASDAQ:VC) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.31). Visteon had a return on equity of 15.93% and a net margin of 5.99%.The firm had revenue of $954.00 million for the quarter, compared to analysts’ expectations of $901.33 million. During the same quarter in the prior year, the business posted $2.47 earnings per share. Visteon’s revenue was up 2.1% on a year-over-year basis. Research analysts expect that Visteon Corporation will post 8.54 EPS for the current fiscal year.

Visteon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, June 1st. Visteon’s dividend payout ratio (DPR) is currently 18.27%.

Analysts Set New Price Targets

Several research firms have weighed in on VC. Wolfe Research upgraded shares of Visteon from a “peer perform” rating to an “outperform” rating and set a $135.00 price objective on the stock in a research report on Monday, April 27th. Barclays increased their price objective on Visteon from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Monday, April 27th. Morgan Stanley set a $115.00 price objective on Visteon in a research note on Monday, April 27th. JPMorgan Chase & Co. reduced their price objective on Visteon from $110.00 to $108.00 and set a “neutral” rating for the company in a research note on Thursday, April 23rd. Finally, UBS Group increased their price objective on Visteon from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Visteon has an average rating of “Moderate Buy” and an average price target of $125.67.

Insider Buying and Selling at Visteon

In related news, SVP Robert R. Vallance sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $119.40, for a total value of $119,400.00. Following the completion of the sale, the senior vice president owned 17,469 shares of the company’s stock, valued at approximately $2,085,798.60. The trade was a 5.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Colleen Elizabeth Myers sold 475 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $110.92, for a total value of $52,687.00. Following the completion of the sale, the chief accounting officer directly owned 241 shares of the company’s stock, valued at approximately $26,731.72. The trade was a 66.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 58,901 shares of company stock valued at $6,699,220 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

About Visteon

Visteon Corporation is a global automotive electronics supplier that specializes in designing, engineering and manufacturing cockpit electronics and connected vehicle solutions. The company’s product portfolio spans digital instrument clusters, infotainment systems, domain controllers and advanced driver interaction technologies. By integrating hardware, software and services, Visteon aims to deliver complete cockpit electronics platforms that enhance driver experience, safety and connectivity.

Founded in 2000 as a spin-off from Ford Motor Company, Visteon has evolved its focus toward next-generation electronics and software-driven vehicle architectures.