Northern Trust Corp Sells 12,633 Shares of Visteon Corporation $VC

Key Points

• Northern Trust Corp has reduced its holdings in Visteon Corporation by 3.4%, owning approximately 360,131 shares worth about $27.95 million after selling 12,633 shares in the first quarter.
• Several analysts have raised their price targets for Visteon, with Wells Fargo boosting it from $106 to $129, indicating a strong outlook for the stock.
• Visteon announced a quarterly dividend of $0.275 per share, with an ex-dividend date of August 18th, reflecting a dividend yield of 0.9%.

Northern Trust Corp trimmed its position in shares of Visteon Corporation (NASDAQ:VC - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 360,131 shares of the company's stock after selling 12,633 shares during the period. Northern Trust Corp owned about 1.32% of Visteon worth $27,953,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mariner LLC grew its position in shares of Visteon by 14.2% in the fourth quarter. Mariner LLC now owns 4,285 shares of the company's stock valued at $380,000 after purchasing an additional 533 shares during the last quarter. Voya Investment Management LLC grew its position in shares of Visteon by 28.3% in the fourth quarter. Voya Investment Management LLC now owns 17,074 shares of the company's stock valued at $1,515,000 after purchasing an additional 3,761 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Visteon by 87.7% in the fourth quarter. AQR Capital Management LLC now owns 128,434 shares of the company's stock valued at $11,395,000 after purchasing an additional 60,007 shares during the last quarter. Algert Global LLC grew its position in shares of Visteon by 36.1% in the fourth quarter. Algert Global LLC now owns 65,198 shares of the company's stock valued at $5,784,000 after purchasing an additional 17,286 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Visteon by 20.0% in the fourth quarter. Ameriprise Financial Inc. now owns 426,163 shares of the company's stock valued at $37,809,000 after purchasing an additional 71,024 shares during the last quarter. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

Visteon Stock Up 0.7%

NASDAQ VC traded up $0.90 during trading hours on Thursday, hitting $123.61. 115,525 shares of the company traded hands, compared to its average volume of 373,945. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.87. The business's 50-day moving average is $113.53 and its 200-day moving average is $93.06. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 4.79 and a beta of 1.25. Visteon Corporation has a twelve month low of $65.10 and a twelve month high of $128.32.

Visteon (NASDAQ:VC - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $2.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.04 by $0.35. The company had revenue of $969.00 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.54 EPS. Visteon has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Visteon Corporation will post 8.42 earnings per share for the current year.

Visteon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Monday, August 18th will be paid a dividend of $0.275 per share. The ex-dividend date is Monday, August 18th. This represents a $1.10 annualized dividend and a yield of 0.9%. Visteon's dividend payout ratio is presently 10.49%.

Insiders Place Their Bets

In other Visteon news, Director Francis M. Scricco sold 4,350 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $120.53, for a total transaction of $524,305.50. Following the sale, the director owned 2,792 shares of the company's stock, valued at approximately $336,519.76. This represents a 60.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,102 shares of company stock valued at $1,538,595. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VC. The Goldman Sachs Group reissued a "buy" rating on shares of Visteon in a research report on Friday, July 25th. Wall Street Zen upgraded shares of Visteon from a "hold" rating to a "buy" rating in a research note on Sunday, August 24th. Wolfe Research upgraded shares of Visteon from a "peer perform" rating to an "outperform" rating and set a $123.00 target price for the company in a research note on Wednesday, July 2nd. UBS Group reissued a "buy" rating and issued a $146.00 price target (up previously from $142.00) on shares of Visteon in a report on Friday, July 25th. Finally, Baird R W raised shares of Visteon from a "hold" rating to a "strong-buy" rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $117.58.

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.