Insider Selling: Visteon (NASDAQ:VC) CEO Sells $1,211,980.81 in Stock

Visteon Corporation (NASDAQ:VC) CEO Sachin Lawande sold 11,009 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $110.09, for a total value of $1,211,980.81. Following the completion of the transaction, the chief executive officer directly owned 193,822 shares of the company’s stock, valued at $21,337,863.98. This represents a 5.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sachin Lawande also recently made the following trade(s):

• On Friday, April 24th, Sachin Lawande sold 38,817 shares of Visteon stock. The shares were sold at an average price of $113.63, for a total value of $4,410,775.71.
• On Wednesday, March 4th, Sachin Lawande sold 49,453 shares of Visteon stock. The shares were sold at an average price of $93.44, for a total value of $4,620,888.32.

Visteon Trading Down 1.9%

Shares of NASDAQ VC opened at $108.24 on Thursday. The stock’s 50 day moving average price is $94.23 and its two-hundred day moving average price is $99.13. Visteon Corporation has a 52-week low of $77.19 and a 52-week high of $129.10. The stock has a market capitalization of $2.89 billion, a P/E ratio of 13.18, a PEG ratio of 1.51 and a beta of 1.15. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.17.

Visteon (NASDAQ:VC) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.31). Visteon had a net margin of 5.99% and a return on equity of 15.93%. The firm had revenue of $954.00 million for the quarter, compared to analyst estimates of $901.33 million. During the same quarter in the previous year, the company earned $2.47 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts anticipate that Visteon Corporation will post 8.51 earnings per share for the current fiscal year.

Visteon Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.375 per share. The ex-dividend date was Monday, March 2nd. This is an increase from Visteon’s previous quarterly dividend of $0.28. This represents a $1.50 annualized dividend and a yield of 1.4%. Visteon’s payout ratio is currently 18.27%.

Hedge Funds Weigh In On Visteon

Several institutional investors have recently made changes to their positions in VC. Farther Finance Advisors LLC grew its holdings in shares of Visteon by 144.1% during the fourth quarter. Farther Finance Advisors LLC now owns 288 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in Visteon in the 3rd quarter worth approximately $30,000. Plato Investment Management Ltd bought a new position in Visteon in the 3rd quarter worth approximately $48,000. UMB Bank n.a. grew its holdings in Visteon by 32.1% in the 4th quarter. UMB Bank n.a. now owns 506 shares of the company’s stock worth $48,000 after buying an additional 123 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in Visteon by 72.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 423 shares of the company’s stock worth $51,000 after buying an additional 177 shares in the last quarter. 99.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

VC has been the topic of several research reports. Robert W. Baird upped their price objective on Visteon from $112.00 to $121.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft set a $117.00 price objective on Visteon in a research note on Friday, February 20th. Royal Bank Of Canada cut their price objective on Visteon from $140.00 to $127.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Wolfe Research upgraded Visteon from a “peer perform” rating to an “outperform” rating and set a $135.00 price objective on the stock in a research note on Monday. Finally, Wells Fargo & Company lowered their target price on Visteon from $125.00 to $124.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Visteon currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.42.

About Visteon

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.