GCA Investment Management LLC cut its position in Visteon Corp (NYSE:VC) by 4.1% in the 4th quarter, Holdings Channel reports. The firm owned 219,843 shares of the auto parts company’s stock after selling 9,485 shares during the period. Visteon makes up 5.1% of GCA Investment Management LLC’s portfolio, making the stock its 3rd biggest holding. GCA Investment Management LLC’s holdings in Visteon were worth $27,511,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of VC. The Manufacturers Life Insurance Company increased its stake in shares of Visteon by 6.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,040 shares of the auto parts company’s stock valued at $106,000 after buying an additional 61 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Visteon by 42.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,758 shares of the auto parts company’s stock valued at $220,000 after buying an additional 526 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Visteon by 32.3% in the third quarter. BNP Paribas Arbitrage SA now owns 1,773 shares of the auto parts company’s stock valued at $219,000 after buying an additional 433 shares during the period. Turner Investments LLC acquired a new stake in shares of Visteon in the third quarter valued at about $248,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Visteon by 644.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,294 shares of the auto parts company’s stock valued at $287,000 after buying an additional 1,986 shares during the period.
In other news, CEO Sachin Lawande sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $130.00, for a total value of $325,000.00. Following the transaction, the chief executive officer now owns 8,595 shares in the company, valued at $1,117,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 11,539 shares of company stock worth $1,474,051 in the last 90 days. Corporate insiders own 0.19% of the company’s stock.
Visteon (NYSE:VC) last announced its quarterly earnings data on Thursday, February 22nd. The auto parts company reported $1.64 EPS for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($0.09). Visteon had a net margin of 4.83% and a return on equity of 29.13%. The firm had revenue of $797.00 million during the quarter, compared to analyst estimates of $797.55 million. During the same period last year, the business posted $1.55 EPS. The company’s revenue was down 2.3% on a year-over-year basis. equities research analysts expect that Visteon Corp will post 6.23 EPS for the current fiscal year.
Visteon declared that its board has authorized a share buyback plan on Tuesday, January 16th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Several equities research analysts have recently weighed in on the company. Guggenheim reissued a “buy” rating and issued a $154.00 price target on shares of Visteon in a research note on Wednesday, January 10th. Zacks Investment Research raised Visteon from a “hold” rating to a “buy” rating and set a $141.00 price target for the company in a research note on Saturday, January 6th. B. Riley increased their price target on Visteon from $140.00 to $162.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Longbow Research assumed coverage on Visteon in a research note on Friday, January 5th. They issued a “buy” rating and a $160.00 price target for the company. Finally, JPMorgan Chase & Co. cut Visteon from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $142.00 to $137.00 in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. Visteon presently has a consensus rating of “Buy” and a consensus price target of $137.76.
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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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