Visteon Corporation $VC Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in shares of Visteon Corporation (NASDAQ:VC) by 16.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 371,241 shares of the company’s stock after selling 72,506 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.36% of Visteon worth $44,497,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Visteon during the third quarter worth approximately $30,000. USA Financial Formulas acquired a new stake in Visteon in the third quarter valued at $44,000. Plato Investment Management Ltd bought a new position in Visteon during the 3rd quarter valued at $48,000. Hantz Financial Services Inc. grew its holdings in Visteon by 72.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 423 shares of the company’s stock worth $51,000 after acquiring an additional 177 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in Visteon during the 3rd quarter worth $54,000. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VC. Wall Street Zen lowered shares of Visteon from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. UBS Group decreased their price target on Visteon from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, February 20th. JPMorgan Chase & Co. cut their price objective on Visteon from $118.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, March 9th. Wolfe Research downgraded Visteon from an “outperform” rating to a “peer perform” rating in a report on Monday, January 12th. Finally, Royal Bank Of Canada decreased their target price on Visteon from $140.00 to $127.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $122.33.

Insiders Place Their Bets

In related news, CEO Sachin Lawande sold 49,453 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $93.44, for a total value of $4,620,888.32. Following the completion of the transaction, the chief executive officer owned 175,527 shares in the company, valued at $16,401,242.88. This represents a 21.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by insiders.

Visteon Stock Performance

Shares of VC stock opened at $85.28 on Friday. Visteon Corporation has a 12-month low of $65.10 and a 12-month high of $129.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.80 and a quick ratio of 1.53. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 9.04, a price-to-earnings-growth ratio of 1.03 and a beta of 1.15. The business has a 50 day simple moving average of $94.96 and a 200 day simple moving average of $104.44.

Visteon (NASDAQ:VC) last announced its earnings results on Thursday, February 19th. The company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.88. Visteon had a return on equity of 17.94% and a net margin of 6.93%.The firm had revenue of $948.00 million for the quarter, compared to the consensus estimate of $920.25 million. During the same quarter in the previous year, the business earned $4.44 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts anticipate that Visteon Corporation will post 8.42 EPS for the current year.

Visteon Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a $0.375 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This is an increase from Visteon’s previous quarterly dividend of $0.28. This represents a $1.50 annualized dividend and a yield of 1.8%. Visteon’s dividend payout ratio is currently 15.91%.

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.