Eagle Asset Management Inc. trimmed its stake in Visteon Corp (NYSE:VC) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 665,677 shares of the auto parts company’s stock after selling 5,625 shares during the quarter. Eagle Asset Management Inc. owned approximately 2.14% of Visteon worth $83,181,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its stake in 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 acquiring an additional 61 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in Visteon by 3.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 11,184 shares of the auto parts company’s stock valued at $1,384,000 after acquiring an additional 412 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in 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 acquiring an additional 433 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in 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 acquiring an additional 526 shares during the last quarter. Finally, Aperio Group LLC boosted its stake in Visteon by 5.7% in the fourth quarter. Aperio Group LLC now owns 12,623 shares of the auto parts company’s stock valued at $1,580,000 after acquiring an additional 679 shares during the last quarter.
In other Visteon news, CEO Sachin Lawande sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $129.26, for a total value of $646,300.00. Following the sale, the chief executive officer now directly owns 8,595 shares in the company, valued at approximately $1,110,989.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 17,500 shares of company stock worth $2,263,500 over the last quarter. Corporate insiders own 0.19% of the company’s stock.
Visteon announced that its board has initiated a stock buyback program on Tuesday, January 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the auto parts company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of analysts recently commented on VC shares. Guggenheim restated a “buy” rating and set a $154.00 price target on shares of Visteon in a research note on Wednesday, January 10th. Zacks Investment Research upgraded shares of Visteon from a “hold” rating to a “buy” rating and set a $141.00 price target on the stock in a research note on Saturday, January 6th. B. Riley upped their price target 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. Longbow Research started coverage on shares of Visteon in a research note on Friday, January 5th. They set a “buy” rating and a $160.00 price target on the stock. Finally, Royal Bank of Canada dropped their price target on shares of Visteon to $131.00 and set a “sector perform” rating on the stock in a research note on Sunday, January 21st. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Visteon has an average rating of “Buy” and a consensus target price 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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