Federated Hermes Inc. Has $2.54 Million Position in Visteon Corporation (NASDAQ:VC)

Key Points

• Federated Hermes Inc. reduced its ownership in Visteon Corporation by 7.4%, selling 2,611 shares, and now holds 32,655 shares valued at approximately $2.54 million.
• Visteon recently reported earnings of $2.39 per share for the last quarter, exceeding estimates and reflecting a 4.4% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.275 per share, representing an annualized yield of 1.0%, scheduled for payment on September 5th.

Federated Hermes Inc. lessened its position in shares of Visteon Corporation (NASDAQ:VC - Free Report) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,655 shares of the company's stock after selling 2,611 shares during the period. Federated Hermes Inc. owned approximately 0.12% of Visteon worth $2,535,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VC. LPL Financial LLC lifted its position in Visteon by 2.6% during the 4th quarter. LPL Financial LLC now owns 6,166 shares of the company's stock worth $547,000 after acquiring an additional 156 shares in the last quarter. Alliancebernstein L.P. boosted its position 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 buying an additional 16,828 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Visteon by 28.0% during the fourth quarter. Franklin Resources Inc. now owns 26,385 shares of the company's stock worth $2,341,000 after acquiring an additional 5,765 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Visteon by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 670,363 shares of the company's stock valued at $59,487,000 after purchasing an additional 1,681 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in Visteon by 75.6% during the 4th quarter. Wells Fargo & Company MN now owns 17,786 shares of the company's stock valued at $1,578,000 after purchasing an additional 7,656 shares in the last quarter. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Visteon

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Visteon from $106.00 to $129.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Cfra Research cut Visteon from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on Visteon from $120.00 to $131.00 and gave the company a "buy" rating in a research report on Friday, July 25th. The Goldman Sachs Group restated a "buy" rating on shares of Visteon in a research note on Friday, July 25th. Finally, Robert W. Baird raised shares of Visteon from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $96.00 to $125.00 in a report on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Visteon has an average rating of "Moderate Buy" and an average price target of $115.58.

Visteon Stock Performance

VC stock traded down $0.01 during trading on Thursday, reaching $113.70. 250,531 shares of the stock were exchanged, compared to its average volume of 385,078. Visteon Corporation has a twelve month low of $65.10 and a twelve month high of $117.90. The company has a current ratio of 1.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $3.10 billion, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 4.51 and a beta of 1.22. The stock has a 50 day simple moving average of $100.08 and a 200-day simple moving average of $87.79.

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

Visteon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Monday, August 18th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, August 18th. Visteon's payout ratio is presently 10.49%.

About Visteon

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.