Invesco Ltd. Sells 45,271 Shares of Visteon Corporation $VC

Invesco Ltd. lessened its position in Visteon Corporation (NASDAQ:VC) by 3.7% during the second quarter, Holdings Channel reports. The fund owned 1,164,927 shares of the company’s stock after selling 45,271 shares during the period. Invesco Ltd.’s holdings in Visteon were worth $108,688,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings in shares of Visteon by 111.5% in the 2nd quarter. Fifth Third Bancorp now owns 387 shares of the company’s stock worth $36,000 after purchasing an additional 204 shares in the last quarter. EMC Capital Management bought a new position in shares of Visteon during the 2nd quarter valued at about $45,000. GAMMA Investing LLC raised its holdings in shares of Visteon by 238.0% during the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock valued at $56,000 after buying an additional 426 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Visteon during the 1st quarter valued at about $84,000. Finally, Signaturefd LLC lifted its position in Visteon by 106.6% in the 2nd quarter. Signaturefd LLC now owns 1,886 shares of the company’s stock worth $176,000 after buying an additional 973 shares during the last quarter. Institutional investors own 99.71% of the company’s stock.

Visteon Stock Performance

Shares of NASDAQ:VC opened at $99.91 on Wednesday. The company has a current ratio of 1.89, a quick ratio of 1.56 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average price of $107.79 and a 200-day moving average price of $108.77. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14. Visteon Corporation has a 12 month low of $65.10 and a 12 month high of $129.10.

Visteon (NASDAQ:VC) last posted its earnings results on Thursday, October 23rd. The company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.08. The company had revenue of $917.00 million for the quarter, compared to analysts’ expectations of $945.41 million. Visteon had a return on equity of 21.85% and a net margin of 8.22%.Visteon’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the firm earned $2.26 earnings per share. As a group, equities analysts anticipate that Visteon Corporation will post 8.42 EPS for the current year.

Visteon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Tuesday, November 18th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $1.10 annualized dividend and a dividend yield of 1.1%. Visteon’s payout ratio is 9.88%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Zacks Research downgraded shares of Visteon from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Barclays set a $130.00 target price on shares of Visteon in a research report on Monday, October 27th. Royal Bank Of Canada upped their price target on shares of Visteon from $136.00 to $138.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Morgan Stanley lifted their price objective on Visteon from $95.00 to $114.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, JPMorgan Chase & Co. increased their target price on Visteon from $104.00 to $122.00 and gave the company a “neutral” rating in a report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.08.

Insider Activity at Visteon

In related news, CEO Sachin Lawande sold 595 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $110.02, for a total value of $65,461.90. Following the completion of the sale, the chief executive officer owned 175,527 shares of the company’s stock, valued at $19,311,480.54. This trade represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by corporate insiders.

About Visteon

Visteon Corporation, an automotive technology company, designs, manufactures, and sells automotive electronics and connected car solutions for vehicle manufacturers worldwide. The company provides instrument clusters, including analog gauge clusters for 2-D and 3-D display-based devices; information displays that integrate a range of user interface technologies and graphics management capabilities, such as active privacy, TrueColor enhancement, local dimming, cameras, optics, haptic feedback, and light effects; and infotainment and connected car solutions, including scalable Android infotainment for seamless connectivity, as well as onboard artificial intelligence-based voice assistants with natural language understanding.