Legal & General Group Plc Lowers Holdings in Visteon Corp (VC)

Legal & General Group Plc reduced its stake in shares of Visteon Corp (NYSE:VC) by 18.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,313 shares of the auto parts company’s stock after selling 7,281 shares during the quarter. Legal & General Group Plc’s holdings in Visteon were worth $4,047,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of VC. US Bancorp DE lifted its stake in shares of Visteon by 261.2% during the 1st quarter. US Bancorp DE now owns 1,293 shares of the auto parts company’s stock worth $143,000 after purchasing an additional 935 shares during the last quarter. James Investment Research Inc. purchased a new stake in shares of Visteon during the 2nd quarter worth $147,000. BNP Paribas Arbitrage SA lifted its stake in shares of Visteon by 189.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,464 shares of the auto parts company’s stock worth $189,000 after purchasing an additional 959 shares during the last quarter. TLP Group LLC lifted its stake in shares of Visteon by 61,600.0% during the 1st quarter. TLP Group LLC now owns 1,851 shares of the auto parts company’s stock worth $204,000 after purchasing an additional 1,848 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Visteon during the 1st quarter worth $213,000.

Shares of VC stock opened at $100.50 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.97 and a quick ratio of 1.76. Visteon Corp has a fifty-two week low of $98.97 and a fifty-two week high of $140.64.

Visteon (NYSE:VC) last announced its quarterly earnings data on Thursday, July 26th. The auto parts company reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.10). The firm had revenue of $758.00 million during the quarter, compared to analyst estimates of $794.15 million. Visteon had a net margin of 4.83% and a return on equity of 29.13%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.38 earnings per share. sell-side analysts predict that Visteon Corp will post 6.23 earnings per share for the current fiscal year.

A number of equities research analysts have commented on the company. Raymond James reiterated a “buy” rating on shares of Visteon in a research note on Monday, August 20th. Morgan Stanley set a $98.00 price target on Visteon and gave the company a “sell” rating in a research note on Monday, August 13th. Longbow Research set a $145.00 price target on Visteon and gave the company a “buy” rating in a research note on Wednesday, August 1st. Citigroup decreased their price target on Visteon from $126.00 to $115.00 and set a “neutral” rating for the company in a research note on Monday, July 30th. Finally, Barclays reiterated a “hold” rating and issued a $104.00 price target on shares of Visteon in a research note on Sunday, July 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $137.47.

In other news, Director Harry James Wilson acquired 2,500 shares of the business’s stock in a transaction dated Wednesday, August 1st. The shares were acquired at an average cost of $116.71 per share, with a total value of $291,775.00. Following the completion of the acquisition, the director now owns 2,600 shares of the company’s stock, valued at $303,446. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Sachin Lawande sold 5,000 shares of the stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $126.81, for a total value of $634,050.00. Following the completion of the transaction, the chief executive officer now directly owns 81,801 shares in the company, valued at $10,373,184.81. The disclosure for this sale can be found here. Insiders sold 8,350 shares of company stock worth $1,028,373 over the last three months. Corporate insiders own 0.19% of the company’s stock.

Visteon 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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Institutional Ownership by Quarter for Visteon (NYSE:VC)

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