Visteon Corporation (NASDAQ:VC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in shares of Visteon Corporation (NASDAQ:VC) by 17.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 526,743 shares of the company’s stock after selling 114,113 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.95% of Visteon worth $40,886,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in VC. UMB Bank n.a. raised its stake 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 purchasing an additional 324 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Visteon by 558.9% during the 1st quarter. Parallel Advisors LLC now owns 481 shares of the company’s stock valued at $37,000 after acquiring an additional 408 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Visteon by 225.3% during the 4th quarter. Quadrant Capital Group LLC now owns 501 shares of the company’s stock valued at $44,000 after acquiring an additional 347 shares during the last quarter. Signaturefd LLC increased its stake in shares of 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 last quarter. Finally, CX Institutional acquired a new position in shares of Visteon during the 1st quarter valued at about $63,000. Institutional investors and hedge funds own 99.71% of the company’s stock.

Insider Transactions at Visteon

In related news, SVP Robert R. Vallance sold 2,000 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $100.15, for a total value of $200,300.00. Following the completion of the sale, the senior vice president directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Visteon Trading Up 3.3%

Shares of VC stock opened at $114.36 on Tuesday. The stock has a 50-day simple moving average of $90.82 and a 200 day simple moving average of $84.70. Visteon Corporation has a fifty-two week low of $65.10 and a fifty-two week high of $117.94. The stock has a market capitalization of $3.12 billion, a P/E ratio of 10.72 and a beta of 1.21. 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) last released its quarterly earnings results on Thursday, April 24th. The company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.70. Visteon had a return on equity of 24.95% and a net margin of 7.68%. The business had revenue of $934.00 million during the quarter, compared to analyst estimates of $906.38 million. During the same quarter last year, the company posted $1.61 EPS. Visteon’s revenue for the quarter was up .1% on a year-over-year basis. On average, sell-side analysts expect that Visteon Corporation will post 8.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on VC. Robert W. Baird raised shares of 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. UBS Group reissued a “neutral” rating and set a $76.00 target price (down previously from $114.00) on shares of Visteon in a research report on Thursday, April 10th. Wolfe Research raised 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 report on Wednesday, July 2nd. Wells Fargo & Company upped their price target on Visteon from $101.00 to $106.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Finally, The Goldman Sachs Group upgraded Visteon from a “neutral” rating to a “buy” rating and upped their price target for the stock from $83.00 to $120.00 in a report on Friday. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Visteon currently has an average rating of “Moderate Buy” and a consensus price target of $103.50.

Visteon Company 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.