Key Points
- Sachin Lawande, Visteon’s CEO, sold 49,453 shares on March 4 at an average price of $93.44 for proceeds of $4,620,888, reducing his ownership by about 21.98% to 175,527 shares (≈$16.4M).
- Visteon raised its quarterly dividend to $0.375 (from $0.28), an annualized $1.50 payout with a ~1.7% yield; the ex-dividend date was March 2 and the payment date is March 16.
- The company beat expectations with quarterly EPS of $2.96 (vs. $2.08 consensus) and $948M revenue, and analysts maintain a consensus "Moderate Buy" with an average target of $122.15.
Visteon Corporation (NASDAQ:VC - Get Free Report) CEO Sachin Lawande sold 49,453 shares of Visteon stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $93.44, for a total transaction of $4,620,888.32. Following the sale, the chief executive officer owned 175,527 shares of the company's stock, valued at approximately $16,401,242.88. The trade was a 21.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Visteon Price Performance
Shares of VC traded down $1.08 on Friday, reaching $89.52. The stock had a trading volume of 36,634 shares, compared to its average volume of 594,156. Visteon Corporation has a twelve month low of $65.10 and a twelve month high of $129.10. The firm has a market capitalization of $2.40 billion, a PE ratio of 9.49, a PEG ratio of 1.11 and a beta of 1.15. The firm has a 50-day moving average of $97.19 and a 200 day moving average of $107.13. The company has a quick ratio of 1.53, a current ratio of 1.80 and a debt-to-equity ratio of 0.17.
Visteon (NASDAQ:VC - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.88. The firm had revenue of $948.00 million during the quarter, compared to analysts' expectations of $920.25 million. Visteon had a return on equity of 17.94% and a net margin of 6.93%.Visteon's revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $4.44 earnings per share. Sell-side analysts expect that Visteon Corporation will post 8.42 EPS for the current year.
Visteon Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a $0.375 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.50 annualized dividend and a dividend yield of 1.7%. This is a boost from Visteon's previous quarterly dividend of $0.28. Visteon's payout ratio is presently 15.91%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on VC shares. Robert W. Baird cut their target price on shares of Visteon from $126.00 to $119.00 and set an "outperform" rating for the company in a research report on Friday, February 20th. Deutsche Bank Aktiengesellschaft set a $117.00 price objective on Visteon in a research report on Friday, February 20th. Royal Bank Of Canada reduced their target price on Visteon from $140.00 to $127.00 and set an "outperform" rating on the stock in a research note on Friday, February 20th. UBS Group dropped their price target on Visteon from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, February 20th. Finally, Barclays reduced their price objective on Visteon from $130.00 to $110.00 and set an "equal weight" rating on the stock in a research report on Friday, January 23rd. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Visteon has a consensus rating of "Moderate Buy" and an average target price of $122.15.
Read Our Latest Research Report on Visteon
Institutional Trading of Visteon
Several hedge funds and other institutional investors have recently bought and sold shares of VC. Royal Bank of Canada lifted its stake in shares of Visteon by 389.3% during the 1st quarter. Royal Bank of Canada now owns 21,992 shares of the company's stock worth $1,707,000 after purchasing an additional 17,497 shares during the period. Goldman Sachs Group Inc. increased its stake in Visteon by 31.5% in the first quarter. Goldman Sachs Group Inc. now owns 249,564 shares of the company's stock valued at $19,371,000 after purchasing an additional 59,764 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Visteon by 42.4% during the second quarter. Envestnet Asset Management Inc. now owns 35,161 shares of the company's stock worth $3,280,000 after buying an additional 10,463 shares during the period. Atria Investments Inc acquired a new stake in Visteon in the 2nd quarter worth about $243,000. Finally, PNC Financial Services Group Inc. boosted its stake in Visteon by 16.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,713 shares of the company's stock worth $346,000 after buying an additional 514 shares during the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.
About Visteon
(
Get Free Report)
Visteon Corporation is a global automotive electronics supplier that specializes in designing, engineering and manufacturing cockpit electronics and connected vehicle solutions. The company's product portfolio spans digital instrument clusters, infotainment systems, domain controllers and advanced driver interaction technologies. By integrating hardware, software and services, Visteon aims to deliver complete cockpit electronics platforms that enhance driver experience, safety and connectivity.
Founded in 2000 as a spin-off from Ford Motor Company, Visteon has evolved its focus toward next-generation electronics and software-driven vehicle architectures.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
