5,484 Shares in Visteon Corporation (NASDAQ:VC) Acquired by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH recently acquired 5,484 shares of Visteon Corporation, valued at approximately $426,000, during the first quarter of 2023.
• Visteon reported $2.39 earnings per share for the quarter, surpassing the consensus estimate of $2.04, but its revenue fell by 4.4% year-over-year.
• The company declared a quarterly dividend of $0.275 per share, reflecting an annualized dividend of $1.10 with a dividend yield of approximately 1.0%.

Allianz Asset Management GmbH bought a new position in Visteon Corporation (NASDAQ:VC - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 5,484 shares of the company's stock, valued at approximately $426,000.

Several other institutional investors also recently modified their holdings of VC. LPL Financial LLC raised its stake in shares of Visteon by 2.6% in the fourth quarter. LPL Financial LLC now owns 6,166 shares of the company's stock valued at $547,000 after acquiring an additional 156 shares during the period. Vanguard Group Inc. raised its position in shares of Visteon by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 2,909,217 shares of the company's stock valued at $258,106,000 after purchasing an additional 16,442 shares during the last quarter. JPMorgan Chase & Co. raised its position in Visteon by 2.7% during the 4th quarter. JPMorgan Chase & Co. now owns 656,347 shares of the company's stock worth $58,231,000 after buying an additional 17,526 shares during the last quarter. Norges Bank purchased a new position in shares of Visteon during the 4th quarter valued at approximately $29,468,000. Finally, Alliancebernstein L.P. grew its stake in Visteon by 30.7% in the 4th quarter. Alliancebernstein L.P. now owns 71,613 shares of the company's stock valued at $6,354,000 after acquiring an additional 16,828 shares during the period. 99.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on VC. Morgan Stanley dropped their price target on shares of Visteon from $95.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Wells Fargo & Company boosted their target price on Visteon from $106.00 to $129.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Baird R W raised Visteon from a "hold" rating to a "strong-buy" rating in a report on Friday, July 11th. Robert W. Baird raised Visteon from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $96.00 to $125.00 in a research note on Friday, July 11th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Visteon from $120.00 to $131.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $115.58.

Insider Transactions at Visteon

In related news, SVP Robert R. Vallance sold 2,000 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $100.15, for a total value of $200,300.00. Following the completion of the sale, the senior vice president owned 20,838 shares of the company's stock, valued at $2,086,925.70. This trade represents a 8.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Joao Paulo Ribeiro sold 710 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $115.09, for a total value of $81,713.90. Following the completion of the transaction, the senior vice president directly owned 6,698 shares of the company's stock, valued at approximately $770,872.82. This trade represents a 9.58% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

Visteon Trading Down 0.0%

VC stock traded down $0.03 during mid-day trading on Wednesday, reaching $113.72. 88,214 shares of the stock traded hands, compared to its average volume of 384,641. The company has a current ratio of 1.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. Visteon Corporation has a 52-week low of $65.10 and a 52-week high of $117.90. The stock's fifty day moving average is $99.49 and its 200-day moving average is $87.61. The company has a market cap of $3.10 billion, a P/E ratio of 10.82, a P/E/G ratio of 4.48 and a beta of 1.22.

Visteon (NASDAQ:VC - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $2.39 EPS for the quarter, beating analysts' consensus estimates of $2.04 by $0.35. Visteon had a return on equity of 23.22% and a net margin of 7.61%. The company had revenue of $969.00 million during the quarter, compared to analysts' expectations of $943.12 million. During the same period in the prior year, the business posted $2.54 EPS. Visteon's revenue was down 4.4% on a year-over-year basis. As a group, sell-side analysts expect that Visteon Corporation will post 8.42 earnings per share for the current year.

Visteon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Monday, August 18th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.10 dividend on an annualized basis and a yield of 1.0%.

Visteon Profile

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.