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. decreased its position in Visteon Corporation (NASDAQ:VC - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. LPL Financial LLC boosted its holdings in Visteon by 2.6% during the fourth quarter. LPL Financial LLC now owns 6,166 shares of the company's stock worth $547,000 after buying an additional 156 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Visteon by 2.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,519 shares of the company's stock valued at $756,000 after acquiring an additional 182 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Visteon by 33.5% during the 1st quarter. Signaturefd LLC now owns 913 shares of the company's stock valued at $71,000 after buying an additional 229 shares during the period. UMB Bank n.a. grew its stake in Visteon by 286.7% in the first quarter. UMB Bank n.a. now owns 437 shares of the company's stock valued at $34,000 after purchasing an additional 324 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in Visteon by 4.8% in the fourth quarter. Captrust Financial Advisors now owns 7,435 shares of the company's stock worth $660,000 after buying an additional 338 shares during the last quarter. Institutional investors own 99.71% of the company's stock.

Insider Buying and Selling at Visteon

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

Analysts Set New Price Targets

Several brokerages recently commented on VC. Cfra Research downgraded shares of Visteon from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 24th. Morgan Stanley dropped their price objective on shares of Visteon from $95.00 to $90.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Guggenheim lowered their target price on shares of Visteon from $108.00 to $91.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Robert W. Baird raised shares of Visteon from a "neutral" rating to an "outperform" rating and upped their target price for the company from $96.00 to $125.00 in a research note on Friday, July 11th. Finally, Wolfe Research raised shares of Visteon from a "peer perform" rating to an "outperform" rating and set a $123.00 target price on the stock in a research note on Wednesday, July 2nd. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Visteon presently has an average rating of "Moderate Buy" and an average price target of $115.58.

Visteon Price Performance

NASDAQ:VC traded up $0.43 on Friday, reaching $114.13. The stock had a trading volume of 159,347 shares, compared to its average volume of 470,162. The company has a market capitalization of $3.11 billion, a P/E ratio of 10.88, a price-to-earnings-growth ratio of 4.51 and a beta of 1.22. Visteon Corporation has a 1-year low of $65.10 and a 1-year high of $117.90. The company has a quick ratio of 1.55, a current ratio of 1.87 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average price of $101.24 and a 200-day moving average price of $88.18.

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

Visteon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders 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 annualized dividend and a yield of 1.0%.

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.