Visteon Corporation (NASDAQ:VC - Get Free Report) SVP Brett Pynnonen sold 5,000 shares of Visteon stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $120.00, for a total transaction of $600,000.00. Following the transaction, the senior vice president directly owned 8,503 shares in the company, valued at $1,020,360. This represents a 37.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Visteon Price Performance
Shares of NASDAQ:VC opened at $119.35 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.73 and a quick ratio of 1.43. Visteon Corporation has a 1-year low of $83.49 and a 1-year high of $129.10. The company has a market capitalization of $3.19 billion, a P/E ratio of 14.54, a P/E/G ratio of 1.51 and a beta of 1.26. The firm's 50 day simple moving average is $107.27 and its two-hundred day simple moving average is $100.40.
Visteon (NASDAQ:VC - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.31). Visteon had a net margin of 5.99% and a return on equity of 15.93%. The firm had revenue of $954.00 million for the quarter, compared to analysts' expectations of $901.33 million. During the same period in the prior year, the firm earned $2.47 EPS. Visteon's revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts expect that Visteon Corporation will post 8.54 EPS for the current fiscal year.
Visteon Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.50 annualized dividend and a yield of 1.3%. Visteon's payout ratio is currently 18.27%.
Institutional Investors Weigh In On Visteon
Institutional investors and hedge funds have recently modified their holdings of the stock. Allianz Asset Management GmbH increased its position in Visteon by 1,380.9% in the third quarter. Allianz Asset Management GmbH now owns 74,875 shares of the company's stock worth $8,975,000 after purchasing an additional 69,819 shares during the last quarter. Dean Capital Management bought a new stake in Visteon in the third quarter worth $4,256,000. Legato Capital Management LLC bought a new stake in Visteon in the third quarter worth $2,664,000. Vanguard Group Inc. increased its position in Visteon by 0.5% in the third quarter. Vanguard Group Inc. now owns 2,863,897 shares of the company's stock worth $343,267,000 after purchasing an additional 12,903 shares during the last quarter. Finally, Intech Investment Management LLC increased its position in Visteon by 120.4% in the third quarter. Intech Investment Management LLC now owns 112,832 shares of the company's stock worth $13,524,000 after purchasing an additional 61,628 shares during the last quarter. Institutional investors own 99.71% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the stock. Wolfe Research upgraded shares of Visteon from a "peer perform" rating to an "outperform" rating and set a $135.00 price objective on the stock in a research report on Monday, April 27th. Morgan Stanley set a $115.00 price objective on shares of Visteon in a research report on Monday, April 27th. Robert W. Baird lifted their price objective on shares of Visteon from $112.00 to $121.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. UBS Group lifted their price objective on shares of Visteon from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Finally, Royal Bank Of Canada reduced their price objective on shares of Visteon from $140.00 to $127.00 and set an "outperform" rating on the stock in a research report on Friday, February 20th. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $125.67.
View Our Latest Report on VC
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.
Recommended Stories
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].
