JPMorgan Chase & Co. Sells 72,506 Shares of Visteon Corporation $VC

JPMorgan Chase & Co. decreased its holdings in Visteon Corporation (NASDAQ:VC) by 16.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 371,241 shares of the company’s stock after selling 72,506 shares during the quarter. JPMorgan Chase & Co. owned 1.36% of Visteon worth $44,497,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in VC. Royal Bank of Canada raised its holdings in shares of Visteon by 389.3% during the first quarter. Royal Bank of Canada now owns 21,992 shares of the company’s stock valued at $1,707,000 after purchasing an additional 17,497 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Visteon by 31.5% in 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 during the period. State of New Jersey Common Pension Fund D grew its position in Visteon by 2.1% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 22,422 shares of the company’s stock worth $2,092,000 after purchasing an additional 469 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Visteon by 42.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 35,161 shares of the company’s stock valued at $3,280,000 after buying an additional 10,463 shares during the period. Finally, Atria Investments Inc purchased a new position in shares of Visteon in the 2nd quarter worth $243,000. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Robert W. Baird reduced their price objective on Visteon from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Wall Street Zen lowered shares of Visteon from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. UBS Group dropped their price objective on shares of Visteon from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, February 20th. The Goldman Sachs Group set a $120.00 target price on shares of Visteon in a research report on Thursday, January 15th. Finally, Royal Bank Of Canada decreased their price target on shares of Visteon from $140.00 to $127.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $122.15.

Visteon Trading Down 0.9%

Visteon stock opened at $98.73 on Friday. Visteon Corporation has a 12-month low of $65.10 and a 12-month high of $129.10. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 10.47, a P/E/G ratio of 1.20 and a beta of 1.16. The firm has a 50 day moving average of $97.60 and a 200 day moving average of $108.03. The company has a current ratio of 1.80, a quick ratio of 1.53 and a debt-to-equity ratio of 0.17.

Visteon (NASDAQ:VC) last posted its quarterly earnings results on Thursday, February 19th. The company reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.88. The business had revenue of $948.00 million during the quarter, compared to analyst estimates of $920.25 million. Visteon had a net margin of 6.93% and a return on equity of 17.94%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $4.44 earnings per share. As a group, research analysts predict that Visteon Corporation will post 8.42 earnings per share for the current year.

Visteon Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.375 per share. This is a boost from Visteon’s previous quarterly dividend of $0.28. This represents a $1.50 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Monday, March 2nd. Visteon’s payout ratio is 11.66%.

Visteon Company Profile

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.