Truist Financial Corp Buys Shares of 7,742 Visteon Corporation $VC

Key Points

• Truist Financial Corp purchased 7,742 shares of Visteon Corporation, valued at approximately $722,000, during the second quarter, indicating growing interest from institutional investors.
• Wall Street analysts have raised price targets for Visteon, with Deutsche Bank increasing it from $120.00 to $131.00, reflecting positive sentiment and a consensus rating of "Moderate Buy."
• Visteon recently declared a quarterly dividend of $0.275 per share, translating to an annualized yield of 1.0%, enhancing its appeal to income-seeking investors.

Truist Financial Corp bought a new stake in Visteon Corporation (NASDAQ:VC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,742 shares of the company's stock, valued at approximately $722,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its position in Visteon by 106.6% in the second quarter. Signaturefd LLC now owns 1,886 shares of the company's stock valued at $176,000 after buying an additional 973 shares in the last quarter. Kirr Marbach & Co. LLC IN boosted its position in Visteon by 0.4% in the second quarter. Kirr Marbach & Co. LLC IN now owns 70,988 shares of the company's stock valued at $6,623,000 after buying an additional 281 shares in the last quarter. Fifth Third Bancorp boosted its position in Visteon by 111.5% in the second quarter. Fifth Third Bancorp now owns 387 shares of the company's stock valued at $36,000 after buying an additional 204 shares in the last quarter. Cardinal Capital Management boosted its position in Visteon by 0.7% in the second quarter. Cardinal Capital Management now owns 19,998 shares of the company's stock valued at $1,866,000 after buying an additional 139 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Visteon by 238.0% in the second quarter. GAMMA Investing LLC now owns 605 shares of the company's stock valued at $56,000 after buying an additional 426 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on VC. Deutsche Bank Aktiengesellschaft raised their target price on shares of Visteon from $120.00 to $131.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Morgan Stanley raised their price target on shares of Visteon from $90.00 to $95.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 12th. Barclays raised their price target on shares of Visteon from $120.00 to $135.00 and gave the company an "equal weight" rating in a research note on Friday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Visteon in a research note on Wednesday, October 8th. Finally, Robert W. Baird set a $144.00 price target on shares of Visteon in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Visteon has a consensus rating of "Moderate Buy" and a consensus target price of $131.00.

Insider Buying and Selling at Visteon

In other Visteon news, Director Francis M. Scricco sold 4,350 shares of Visteon stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $120.53, for a total value of $524,305.50. Following the completion of the sale, the director directly owned 2,792 shares of the company's stock, valued at approximately $336,519.76. The trade was a 60.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Robert R. Vallance sold 2,000 shares of Visteon stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $120.00, for a total transaction of $240,000.00. Following the completion of the sale, the senior vice president directly owned 18,838 shares of the company's stock, valued at approximately $2,260,560. This trade represents a 9.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,102 shares of company stock valued at $1,338,295. Corporate insiders own 2.00% of the company's stock.

Visteon Price Performance

Shares of NASDAQ VC opened at $113.29 on Wednesday. Visteon Corporation has a twelve month low of $65.10 and a twelve month high of $129.10. The firm has a fifty day simple moving average of $121.64 and a 200 day simple moving average of $100.65. The company has a market capitalization of $3.09 billion, a PE ratio of 10.80, a P/E/G ratio of 2.57 and a beta of 1.22. The company has a quick ratio of 1.55, a current ratio of 1.87 and a debt-to-equity ratio of 0.19.

Visteon (NASDAQ:VC - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $2.39 earnings per share for the quarter, topping analysts' consensus estimates of $2.04 by $0.35. Visteon had a net margin of 7.61% and a return on equity of 23.22%. The business had revenue of $969.00 million during the quarter, compared to the consensus estimate of $943.12 million. During the same quarter last year, the firm earned $2.54 earnings per share. Visteon's quarterly revenue was down 4.4% on a year-over-year basis. Visteon has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Visteon Corporation will post 8.42 EPS for the current year.

Visteon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Monday, August 18th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, August 18th. Visteon's payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.