Royce & Associates LP Trims Stake in Visteon Corporation $VC

Royce & Associates LP lessened its stake in shares of Visteon Corporation (NASDAQ:VC) by 5.7% in the 3rd quarter, Holdings Channel reports. The firm owned 264,714 shares of the company’s stock after selling 15,891 shares during the period. Royce & Associates LP’s holdings in Visteon were worth $31,729,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of VC. Caitlin John LLC purchased a new stake in Visteon during the 3rd quarter valued at $99,000. Aster Capital Management DIFC Ltd bought a new stake in Visteon during the 3rd quarter valued at about $54,000. Intech Investment Management LLC boosted its position in Visteon by 120.4% in the 3rd quarter. Intech Investment Management LLC now owns 112,832 shares of the company’s stock valued at $13,524,000 after buying an additional 61,628 shares during the period. Fox Run Management L.L.C. bought a new position in Visteon in the 3rd quarter worth about $448,000. Finally, Nkcfo LLC purchased a new stake in shares of Visteon in the third quarter valued at approximately $101,000. 99.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on VC shares. The Goldman Sachs Group set a $120.00 target price on Visteon in a research report on Thursday, January 15th. Wolfe Research cut shares of Visteon from an “outperform” rating to a “peer perform” rating in a report on Monday, January 12th. UBS Group cut their target price on shares of Visteon from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Robert W. Baird lowered their price target on shares of Visteon from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Finally, Morgan Stanley boosted their price objective on shares of Visteon from $95.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Monday, December 8th. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $122.15.

Visteon Stock Performance

Shares of VC stock opened at $95.67 on Monday. The stock has a market cap of $2.57 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 1.15 and a beta of 1.15. Visteon Corporation has a 52-week low of $65.10 and a 52-week high of $129.10. The business has a 50-day simple moving average of $97.51 and a 200-day simple moving average of $107.72. The company has a quick ratio of 1.53, a current ratio of 1.80 and a debt-to-equity ratio of 0.17.

Visteon (NASDAQ:VC) last announced its earnings results on Thursday, February 19th. The company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.88. The business had revenue of $948.00 million for 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 for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $4.44 earnings per share. On average, equities analysts expect that Visteon Corporation will post 8.42 EPS for the current year.

Visteon Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, March 2nd. This is a boost from Visteon’s previous quarterly dividend of $0.28. Visteon’s dividend payout ratio is presently 11.66%.

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.