JPMorgan Chase & Co. Lowers Holdings in Visteon Corporation $VC

JPMorgan Chase & Co. reduced its stake in shares of Visteon Corporation (NASDAQ:VC) by 16.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 371,241 shares of the company’s stock after selling 72,506 shares during the quarter. JPMorgan Chase & Co.’s holdings in Visteon were worth $44,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of VC. Cullen Frost Bankers Inc. bought a new position in shares of Visteon during the third quarter worth $30,000. USA Financial Formulas purchased a new stake in Visteon in the 3rd quarter worth $44,000. EMC Capital Management bought a new position in shares of Visteon during the 2nd quarter valued at about $45,000. Plato Investment Management Ltd bought a new position in shares of Visteon during the 3rd quarter valued at about $48,000. Finally, Hantz Financial Services Inc. grew its position in shares of Visteon by 72.0% during the third quarter. Hantz Financial Services Inc. now owns 423 shares of the company’s stock valued at $51,000 after purchasing an additional 177 shares in the last quarter. Institutional investors own 99.71% of the company’s stock.

Visteon Price Performance

Visteon stock opened at $98.73 on Friday. Visteon Corporation has a 12-month low of $65.10 and a 12-month high of $129.10. The company has a current ratio of 1.80, a quick ratio of 1.53 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $97.60 and a 200-day moving average price of $108.03. The firm has a market capitalization of $2.65 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 1.20 and a beta of 1.16.

Visteon (NASDAQ:VC) last posted its quarterly earnings data on Thursday, February 19th. The company reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.88. The company had revenue of $948.00 million for the quarter, compared to analyst estimates of $920.25 million. Visteon had a net margin of 6.93% and a return on equity of 17.94%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $4.44 EPS. As a group, equities research analysts forecast that Visteon Corporation will post 8.42 EPS for the current year.

Visteon Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase from Visteon’s previous quarterly dividend of $0.28. Visteon’s dividend payout ratio is 11.66%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Royal Bank Of Canada decreased their target price on Visteon from $140.00 to $127.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Barclays decreased their price objective on Visteon from $130.00 to $110.00 and set an “equal weight” rating on the stock in a report on Friday, January 23rd. Zacks Research lowered shares of Visteon from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft set a $117.00 price target on shares of Visteon in a research note on Friday, February 20th. Finally, Wolfe Research lowered shares of Visteon from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 12th. Nine research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Visteon currently has a consensus rating of “Moderate Buy” and an average price target of $122.15.

Visteon Profile

Visteon Corporation is a global automotive electronics supplier that specializes in designing, engineering and manufacturing cockpit electronics and connected vehicle solutions. The company’s product portfolio spans digital instrument clusters, infotainment systems, domain controllers and advanced driver interaction technologies. By integrating hardware, software and services, Visteon aims to deliver complete cockpit electronics platforms that enhance driver experience, safety and connectivity.

Founded in 2000 as a spin-off from Ford Motor Company, Visteon has evolved its focus toward next-generation electronics and software-driven vehicle architectures.