Bank of America Corp DE Has $36.11 Million Stock Holdings in Visteon Corporation $VC

Key Points

• Bank of America increased its Visteon stake by 130.1% in the first quarter, holding 396,310 shares valued at approximately $36.11 million. Institutional investors collectively own 99.71% of the company.
• Visteon reported quarterly EPS of $1.91, below the $2.21 consensus estimate, while revenue of $960 million slightly exceeded expectations but declined 0.9% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $135.54, compared with the stock’s recent price of $108.22. Visteon also pays a $1.50 annualized dividend, yielding about 1.4%.

Bank of America Corp DE boosted its holdings in shares of Visteon Corporation (NASDAQ:VC - Free Report) by 130.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 396,310 shares of the company's stock after buying an additional 224,097 shares during the quarter. Bank of America Corp DE owned approximately 1.48% of Visteon worth $36,108,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. SBI Okasan Asset Management Co.Ltd. bought a new position in shares of Visteon during the fourth quarter worth approximately $1,562,000. Pacer Advisors Inc. grew its stake in Visteon by 10.1% during the fourth quarter. Pacer Advisors Inc. now owns 141,188 shares of the company's stock worth $13,427,000 after buying an additional 12,998 shares in the last quarter. Vest Financial LLC acquired a new stake in shares of Visteon during the 4th quarter worth approximately $1,422,000. Leuthold Group LLC increased its stake in shares of Visteon by 54.7% in the 4th quarter. Leuthold Group LLC now owns 40,502 shares of the company's stock valued at $3,852,000 after purchasing an additional 14,319 shares during the last quarter. Finally, Royce & Associates LP grew its position in Visteon by 11.7% in the fourth quarter. Royce & Associates LP now owns 295,611 shares of the company's stock valued at $28,113,000 after acquiring an additional 30,897 shares during the last quarter. 99.71% of the stock is owned by institutional investors.

Visteon Price Performance

VC stock opened at $108.22 on Friday. The firm has a 50 day moving average of $107.64 and a 200-day moving average of $103.06. The firm has a market capitalization of $2.89 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 0.69 and a beta of 1.29. The company has a current ratio of 1.78, a quick ratio of 1.45 and a debt-to-equity ratio of 0.17. Visteon Corporation has a 12 month low of $83.49 and a 12 month high of $129.10.

Visteon (NASDAQ:VC - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $1.91 EPS for the quarter, missing the consensus estimate of $2.21 by ($0.30). Visteon had a return on equity of 14.61% and a net margin of 5.58%.The business had revenue of $960.00 million for the quarter, compared to analysts' expectations of $955.78 million. During the same quarter in the previous year, the firm earned $2.39 earnings per share. Visteon's quarterly revenue was down .9% compared to the same quarter last year. As a group, sell-side analysts predict that Visteon Corporation will post 8.41 earnings per share for the current fiscal year.

Visteon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.50 annualized dividend and a dividend yield of 1.4%. Visteon's dividend payout ratio (DPR) is 19.61%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VC. Wall Street Zen downgraded shares of Visteon from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. The Goldman Sachs Group lifted their target price on shares of Visteon from $106.00 to $118.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Wolfe Research lowered Visteon from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. raised their target price on Visteon from $168.00 to $170.00 and gave the company an "overweight" rating in a research note on Monday, August 10th. Finally, Wells Fargo & Company lowered their price objective on shares of Visteon from $137.00 to $134.00 and set an "overweight" rating on the stock in a report on Friday, July 24th. Ten research 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.com, Visteon presently has an average rating of "Moderate Buy" and a consensus target price of $135.54.

Insiders Place Their Bets

In other news, SVP Robert R. Vallance sold 1,000 shares of the firm'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 transaction, the senior vice president directly owned 17,469 shares of the company's stock, valued at approximately $2,085,798.60. This trade represents a 5.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Seungkyung Kim sold 600 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $118.96, for a total value of $71,376.00. Following the sale, the senior vice president owned 389 shares of the company's stock, valued at $46,275.44. This represents a 60.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,600 shares of company stock valued at $1,023,776 over the last three months. Insiders own 2.00% of the company's stock.

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.

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