Clearbridge Investments LLC Sells 7,223 Shares of Visteon Corporation $VC

Clearbridge Investments LLC reduced its position in Visteon Corporation (NASDAQ:VC) by 8.1% in the 4th quarter, Holdings Channel reports. The firm owned 82,293 shares of the company’s stock after selling 7,223 shares during the quarter. Clearbridge Investments LLC’s holdings in Visteon were worth $7,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Visteon by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,863,897 shares of the company’s stock worth $343,267,000 after purchasing an additional 12,903 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Visteon by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,181,415 shares of the company’s stock worth $141,606,000 after purchasing an additional 4,734 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Visteon by 8.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,147,059 shares of the company’s stock worth $137,486,000 after purchasing an additional 90,501 shares during the last quarter. State Street Corp raised its stake in shares of Visteon by 3.1% in the second quarter. State Street Corp now owns 1,107,091 shares of the company’s stock valued at $103,292,000 after acquiring an additional 33,155 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Visteon by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 708,440 shares of the company’s stock valued at $67,381,000 after acquiring an additional 5,151 shares during the last quarter. 99.71% of the stock is owned by institutional investors.

Visteon Stock Down 1.4%

Visteon stock opened at $117.70 on Thursday. The company’s 50 day simple moving average is $107.91 and its 200 day simple moving average is $100.54. Visteon Corporation has a fifty-two week low of $83.49 and a fifty-two week high of $129.10. The firm has a market capitalization of $3.14 billion, a price-to-earnings 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 current ratio of 1.73 and a quick ratio of 1.43.

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

Visteon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.50 annualized dividend and a yield of 1.3%. Visteon’s payout ratio is 18.27%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on VC. Weiss Ratings upgraded Visteon from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Barclays increased their target price on Visteon from $110.00 to $115.00 and gave the stock an “equal weight” rating in a report on Monday, April 27th. JPMorgan Chase & Co. dropped their target price on shares of Visteon from $110.00 to $108.00 and set a “neutral” rating for the company in a research note on Thursday, April 23rd. UBS Group boosted their target price on shares of Visteon from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Finally, Robert W. Baird boosted their target price on shares of Visteon from $112.00 to $121.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $125.67.

Insider Activity

In other Visteon news, SVP Seungkyung Kim sold 600 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $118.96, for a total transaction of $71,376.00. Following the sale, the senior vice president directly owned 389 shares of the company’s stock, valued at $46,275.44. The trade was a 60.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Robert R. Vallance sold 1,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $119.40, for a total transaction of $119,400.00. Following the sale, the senior vice president directly owned 17,469 shares in the company, valued at $2,085,798.60. This trade represents a 5.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 58,901 shares of company stock worth $6,699,220. 2.00% of the stock is currently owned by company insiders.

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.