Visteon Corporation $VC Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in shares of Visteon Corporation (NASDAQ:VC) by 64.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 422,392 shares of the company’s stock after purchasing an additional 165,729 shares during the period. Principal Financial Group Inc.’s holdings in Visteon were worth $50,628,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new position in Visteon in the third quarter worth approximately $30,000. USA Financial Formulas purchased a new stake in shares of Visteon during the 3rd quarter worth $44,000. EMC Capital Management purchased a new stake in shares of Visteon during the 2nd quarter worth $45,000. SG Americas Securities LLC acquired a new position in shares of Visteon during the third quarter worth $211,000. Finally, Ballentine Partners LLC purchased a new position in Visteon in the third quarter valued at $230,000. Institutional investors and hedge funds own 99.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on VC. Royal Bank Of Canada lifted their price target on Visteon from $136.00 to $138.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Zacks Research lowered Visteon from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. The Goldman Sachs Group set a $120.00 price target on Visteon in a report on Thursday, January 15th. Wells Fargo & Company cut their price objective on shares of Visteon from $151.00 to $148.00 and set an “overweight” rating on the stock in a report on Tuesday, December 9th. Finally, Robert W. Baird set a $126.00 price objective on shares of Visteon in a research report on Wednesday, January 14th. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $127.15.

Visteon Stock Performance

Shares of Visteon stock opened at $100.75 on Thursday. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 9.05 and a beta of 1.16. The firm’s fifty day simple moving average is $98.17 and its 200-day simple moving average is $109.45. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.89 and a quick ratio of 1.56. Visteon Corporation has a 12 month low of $65.10 and a 12 month high of $129.10.

Visteon Company 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.