Gabelli Funds LLC reduced its position in Visteon Corp (NYSE:VC) by 10.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,262 shares of the auto parts company’s stock after selling 10,038 shares during the quarter. Gabelli Funds LLC owned 0.29% of Visteon worth $11,295,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of VC. Schwab Charles Investment Management Inc. increased its position in shares of Visteon by 1.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 119,462 shares of the auto parts company’s stock worth $14,786,000 after acquiring an additional 1,489 shares during the period. Hennessy Advisors Inc. purchased a new position in shares of Visteon during the fourth quarter worth approximately $30,134,000. Eagle Asset Management Inc. increased its position in shares of Visteon by 3.2% during the third quarter. Eagle Asset Management Inc. now owns 671,302 shares of the auto parts company’s stock worth $85,074,000 after acquiring an additional 20,570 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Visteon during the third quarter worth approximately $293,000. Finally, Mackenzie Financial Corp increased its holdings in Visteon by 47.6% during the third quarter. Mackenzie Financial Corp now owns 61,324 shares of the auto parts company’s stock valued at $7,590,000 after buying an additional 19,790 shares during the period.
In related news, CEO Sachin Lawande sold 2,500 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $125.00, for a total transaction of $312,500.00. Following the completion of the transaction, the chief executive officer now owns 8,595 shares of the company’s stock, valued at $1,074,375. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 17,500 shares of company stock valued at $2,263,500. 0.19% of the stock is currently owned by corporate insiders.
Visteon Corp (VC) opened at $123.50 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.76 and a debt-to-equity ratio of 0.47. Visteon Corp has a fifty-two week low of $89.60 and a fifty-two week high of $140.64. The stock has a market cap of $3,840.00, a price-to-earnings ratio of 23.61, a P/E/G ratio of 1.34 and a beta of 0.85.
Visteon declared that its board has authorized a share repurchase plan on Tuesday, January 16th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the auto parts company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
Several equities analysts recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Visteon from $112.00 to $123.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. downgraded shares of Visteon from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $142.00 to $137.00 in a research note on Monday, January 22nd. Royal Bank of Canada lowered their target price on shares of Visteon to $131.00 and set a “sector perform” rating for the company in a research note on Sunday, January 21st. B. Riley raised their target price on shares of Visteon from $140.00 to $162.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, Guggenheim restated a “buy” rating and issued a $154.00 target price on shares of Visteon in a research note on Wednesday, January 10th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Visteon has a consensus rating of “Buy” and an average price target of $134.25.
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Visteon Company Profile
Visteon Corporation is a global automotive supplier that designs, engineers and manufactures electronics products for original equipment vehicle manufacturer (OEM), including Ford, Mazda, Nissan/Renault, General Motors, Honda BMW and Daimler. The Company operates through Electronics segment. The Electronics segment provides vehicle cockpit electronics products to customers, including instrument clusters, information displays, infotainment, audio systems, telematics solutions and head up displays.
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