Sumitomo Life Insurance Co. raised its holdings in shares of Visteon Corp (NYSE:VC) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,098 shares of the auto parts company’s stock after acquiring an additional 398 shares during the period. Sumitomo Life Insurance Co.’s holdings in Visteon were worth $884,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. BNP Paribas Arbitrage SA raised its stake in Visteon by 76.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 905 shares of the auto parts company’s stock valued at $61,000 after acquiring an additional 391 shares in the last quarter. Dupont Capital Management Corp bought a new stake in shares of Visteon in the 1st quarter worth $155,000. Edmond DE Rothschild Holding S.A. raised its stake in shares of Visteon by 66.7% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,500 shares of the auto parts company’s stock worth $168,000 after buying an additional 1,000 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Visteon in the 1st quarter worth $182,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Visteon by 8.9% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,880 shares of the auto parts company’s stock worth $194,000 after buying an additional 235 shares in the last quarter.
In related news, Director Robert Manzo bought 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were acquired at an average cost of $48.76 per share, for a total transaction of $195,040.00. Following the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $146,280. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Harry James Wilson bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was bought at an average price of $53.92 per share, for a total transaction of $107,840.00. Following the completion of the acquisition, the director now directly owns 12,000 shares in the company, valued at $647,040. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.
Shares of NYSE VC traded down $0.07 during mid-day trading on Thursday, reaching $61.37. The company had a trading volume of 12,683 shares, compared to its average volume of 637,058. The business has a 50-day moving average price of $58.51. Visteon Corp has a 1-year low of $44.04 and a 1-year high of $122.07.
Visteon (NYSE:VC) last issued its earnings results on Thursday, July 25th. The auto parts company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.07). The company had revenue of $733.00 million during the quarter, compared to analyst estimates of $719.55 million. The firm’s revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.37 EPS.
A number of analysts have recently commented on VC shares. Barclays set a $60.00 price objective on Visteon and gave the stock a “hold” rating in a research note on Friday, July 26th. Morgan Stanley set a $43.00 price objective on Visteon and gave the stock a “sell” rating in a research note on Wednesday, June 26th. B. Riley downgraded Visteon from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $130.00 to $75.00 in a research note on Thursday, April 25th. Zacks Investment Research downgraded Visteon from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 21st. Finally, Cowen set a $72.00 price objective on Visteon and gave the stock a “buy” rating in a research note on Friday, July 19th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $73.33.
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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