Principal Financial Group Inc. Lowers Position in Visteon Corporation (NASDAQ:VC)

Principal Financial Group Inc. cut its position in Visteon Corporation (NASDAQ:VC - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 262,812 shares of the company's stock after selling 5,154 shares during the quarter. Principal Financial Group Inc. owned about 0.97% of Visteon worth $20,399,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. LPL Financial LLC grew its position 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. Xponance Inc. increased its position in shares of Visteon by 4.7% during the 4th quarter. Xponance Inc. now owns 3,898 shares of the company's stock valued at $346,000 after purchasing an additional 175 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in Visteon by 2.2% during 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 during the period. Signaturefd LLC boosted its holdings in Visteon by 62.5% during the 4th quarter. Signaturefd LLC now owns 684 shares of the company's stock valued at $61,000 after acquiring an additional 263 shares during the period. Finally, Headlands Technologies LLC lifted its holdings in Visteon by 21.4% in the 4th quarter. Headlands Technologies LLC now owns 1,771 shares of the company's stock worth $157,000 after buying an additional 312 shares during the period. 99.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

VC has been the subject of several research analyst reports. Baird R W upgraded Visteon from a "hold" rating to a "strong-buy" rating in a report on Friday. Wolfe Research upgraded Visteon from a "peer perform" rating to an "outperform" rating and set a $123.00 price objective for the company in a report on Wednesday, July 2nd. UBS Group reissued a "neutral" rating and issued a $76.00 target price (down previously from $114.00) on shares of Visteon in a research report on Thursday, April 10th. Robert W. Baird raised Visteon from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $96.00 to $125.00 in a research report on Friday. Finally, Guggenheim decreased their target price on Visteon from $108.00 to $91.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Visteon currently has a consensus rating of "Moderate Buy" and an average price target of $103.50.

Insider Activity

In other news, SVP Robert R. Vallance sold 2,000 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $100.15, for a total value of $200,300.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by company insiders.

Visteon Stock Up 2.3%

Shares of Visteon stock traded up $2.44 on Friday, reaching $110.73. The company's stock had a trading volume of 855,833 shares, compared to its average volume of 337,173. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 10.38 and a beta of 1.21. The firm's fifty day simple moving average is $90.14 and its two-hundred day simple moving average is $84.55. Visteon Corporation has a 52 week low of $65.10 and a 52 week high of $117.94. The company has a quick ratio of 1.50, a current ratio of 1.83 and a debt-to-equity ratio of 0.21.

Visteon (NASDAQ:VC - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $2.40 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.70. The business had revenue of $934.00 million during the quarter, compared to analyst estimates of $906.38 million. Visteon had a return on equity of 24.95% and a net margin of 7.68%. The company's quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $1.61 EPS. Equities analysts anticipate that Visteon Corporation will post 8.42 earnings per share for the current year.

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.