Royce & Associates LP Sells 7,873 Shares of Visteon Corporation (NASDAQ:VC)

Key Points

• Royce & Associates LP reduced its stake in Visteon Corporation by 2.8%, now holding 273,635 shares valued at approximately $21.24 million.
• Visteon's stock has been upgraded by several analysts, with Deutsche Bank raising its price target from $120 to $131 and the Goldman Sachs Group increasing its target from $83 to $120.
• The company recently announced a quarterly dividend of $0.275, equating to an annual yield of 0.97%, with the next payment scheduled for September 5th.

Royce & Associates LP cut its stake in shares of Visteon Corporation (NASDAQ:VC - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 273,635 shares of the company's stock after selling 7,873 shares during the quarter. Royce & Associates LP owned approximately 1.00% of Visteon worth $21,240,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. UMB Bank n.a. raised its position in Visteon by 286.7% in the 1st quarter. UMB Bank n.a. now owns 437 shares of the company's stock valued at $34,000 after buying an additional 324 shares during the last quarter. Parallel Advisors LLC raised its position in Visteon by 558.9% in the 1st quarter. Parallel Advisors LLC now owns 481 shares of the company's stock valued at $37,000 after buying an additional 408 shares during the last quarter. Quadrant Capital Group LLC raised its position in Visteon by 225.3% in the 4th quarter. Quadrant Capital Group LLC now owns 501 shares of the company's stock valued at $44,000 after buying an additional 347 shares during the last quarter. CX Institutional purchased a new stake in Visteon in the 1st quarter valued at $63,000. Finally, Signaturefd LLC raised its position in Visteon by 33.5% in 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 last quarter. 99.71% of the stock is owned by institutional investors.

Visteon Stock Performance

VC stock traded down $1.81 during trading on Friday, reaching $113.32. The stock had a trading volume of 394,570 shares, compared to its average volume of 569,533. Visteon Corporation has a 52 week low of $65.10 and a 52 week high of $117.94. The stock's 50 day moving average is $95.51 and its two-hundred day moving average is $86.21. The company has a current ratio of 1.87, a quick ratio of 1.50 and a debt-to-equity ratio of 0.19. The firm has a market cap of $3.09 billion, a PE ratio of 10.80 and a beta of 1.21.

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

Visteon Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Monday, August 18th. Visteon's dividend payout ratio (DPR) is 10.49%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price target on Visteon from $120.00 to $131.00 and gave the stock a "buy" rating in a research note on Friday. The Goldman Sachs Group upgraded Visteon from a "neutral" rating to a "buy" rating and increased their price target for the stock from $83.00 to $120.00 in a research note on Friday, July 11th. UBS Group increased their price target on Visteon from $142.00 to $146.00 and gave the stock a "buy" rating in a research note on Friday. Morgan Stanley cut their price target on Visteon from $95.00 to $90.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Finally, Wells Fargo & Company increased their price target on Visteon from $106.00 to $129.00 and gave the stock an "overweight" rating in a research note on Friday. 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $115.33.

Insider Activity at Visteon

In related news, SVP Robert R. Vallance sold 2,000 shares of the business'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 completion of the transaction, the senior vice president owned 20,838 shares in the company, valued at $2,086,925.70. The trade was a 8.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.00% of the company's stock.

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.