Oakbrook Investments LLC bought a new position in shares of Visteon Corp (NYSE:VC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,300 shares of the auto parts company’s stock, valued at approximately $214,000.
Several other hedge funds have also modified their holdings of VC. Janus Henderson Group PLC raised its stake in shares of Visteon by 97.8% during the 2nd quarter. Janus Henderson Group PLC now owns 1,868,892 shares of the auto parts company’s stock worth $241,536,000 after buying an additional 923,916 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Visteon by 22.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,476,560 shares of the auto parts company’s stock valued at $320,071,000 after purchasing an additional 449,197 shares in the last quarter. Baird Financial Group Inc. purchased a new position in Visteon in the 2nd quarter valued at approximately $25,994,000. Robecosam AG increased its stake in Visteon by 56.0% in the 2nd quarter. Robecosam AG now owns 390,000 shares of the auto parts company’s stock valued at $50,138,000 after purchasing an additional 140,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Visteon in the 2nd quarter valued at approximately $17,615,000.
In other news, insider Robert R. Vallance sold 850 shares of the firm’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $116.85, for a total transaction of $99,322.50. Following the sale, the insider now owns 4,414 shares in the company, valued at $515,775.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sachin Lawande sold 2,500 shares of the firm’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $118.00, for a total value of $295,000.00. Following the sale, the chief executive officer now owns 65,109 shares in the company, valued at approximately $7,682,862. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.
Visteon (NYSE:VC) last released its quarterly earnings results on Thursday, October 25th. The auto parts company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.03). The company had revenue of $681.00 million for the quarter, compared to analysts’ expectations of $727.48 million. Visteon had a return on equity of 29.13% and a net margin of 4.83%. Analysts expect that Visteon Corp will post 6.23 EPS for the current fiscal year.
Several equities analysts recently weighed in on the company. Wells Fargo & Co downgraded Visteon from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $146.00 to $137.00 in a research note on Tuesday, July 17th. Goldman Sachs Group downgraded Visteon from a “buy” rating to a “neutral” rating and set a $142.00 price objective for the company. in a research note on Friday, July 13th. Longbow Research set a $145.00 price objective on Visteon and gave the company a “buy” rating in a research note on Thursday, July 26th. Raymond James reaffirmed a “buy” rating on shares of Visteon in a research note on Monday, August 20th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $123.00 price objective on shares of Visteon in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $134.00.
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.
Further Reading: Conference Calls
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