Mutual of America Capital Management LLC Sells 473 Shares of Visteon Co. (NASDAQ:VC)

Posted by Defense World Staff on Aug 6th, 2023

Mutual of America Capital Management LLC trimmed its position in Visteon Co. (NASDAQ:VC – Free Report) by 2.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,643 shares of the company’s stock after selling 473 shares during the period. Mutual of America Capital Management LLC owned approximately 0.08% of Visteon worth $3,551,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in Visteon by 1.6% during the 1st quarter. BlackRock Inc. now owns 3,080,234 shares of the company’s stock worth $336,145,000 after purchasing an additional 47,131 shares in the last quarter. Vanguard Group Inc. increased its holdings in Visteon by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,705,327 shares of the company’s stock worth $286,927,000 after purchasing an additional 13,287 shares in the last quarter. Wellington Management Group LLP increased its holdings in Visteon by 51.5% during the 1st quarter. Wellington Management Group LLP now owns 2,453,735 shares of the company’s stock worth $267,776,000 after purchasing an additional 834,079 shares in the last quarter. State Street Corp increased its holdings in Visteon by 3.8% during the 1st quarter. State Street Corp now owns 1,051,933 shares of the company’s stock worth $114,797,000 after purchasing an additional 38,648 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Visteon by 40.1% during the 4th quarter. Morgan Stanley now owns 734,690 shares of the company’s stock worth $96,120,000 after purchasing an additional 210,114 shares in the last quarter. 99.95% of the stock is owned by institutional investors.

Insider Transactions at Visteon

In other news, CEO Sachin Lawande sold 10,000 shares of the company’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $153.72, for a total value of $1,537,200.00. Following the transaction, the chief executive officer now owns 246,352 shares of the company’s stock, valued at $37,869,229.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Jerome Rouquet sold 2,823 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $150.19, for a total value of $423,986.37. Following the transaction, the chief financial officer now owns 13,202 shares of the company’s stock, valued at $1,982,808.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sachin Lawande sold 10,000 shares of the stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $153.72, for a total value of $1,537,200.00. Following the completion of the transaction, the chief executive officer now directly owns 246,352 shares in the company, valued at approximately $37,869,229.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,797 shares of company stock valued at $5,407,675. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

VC has been the subject of several recent analyst reports. Guggenheim raised Visteon from a “neutral” rating to a “buy” rating and set a $161.00 target price for the company in a report on Wednesday, May 17th. JPMorgan Chase & Co. upped their target price on Visteon from $156.00 to $157.00 and gave the company a “neutral” rating in a report on Thursday, July 20th. Royal Bank of Canada reduced their target price on Visteon from $184.00 to $182.00 and set an “outperform” rating for the company in a report on Friday. StockNews.com initiated coverage on Visteon in a report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Citigroup upped their target price on Visteon from $159.00 to $160.00 and gave the company a “neutral” rating in a report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $165.25.

Visteon Trading Down 4.7 %

NASDAQ:VC opened at $147.77 on Friday. The company has a market cap of $4.19 billion, a P/E ratio of 32.12, a P/E/G ratio of 0.63 and a beta of 1.80. The stock’s fifty day moving average price is $148.26 and its two-hundred day moving average price is $147.25. Visteon Co. has a 1 year low of $103.46 and a 1 year high of $171.66. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.75 and a quick ratio of 1.35.

Visteon (NASDAQ:VC – Get Free Report) last posted its earnings results on Thursday, August 3rd. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.40). The company had revenue of $983.00 million for the quarter, compared to analysts’ expectations of $984.51 million. Visteon had a return on equity of 20.35% and a net margin of 3.27%. The company’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.34 EPS. As a group, analysts expect that Visteon Co. will post 6.73 EPS for the current year.

Visteon Profile

(Free Report)

Visteon Corporation, an automotive technology company, designs and manufactures automotive electronics and connected car solutions for vehicle manufacturers worldwide. The company provides instrument clusters, including analog gauge clusters to 2-D and 3-D display-based devices; information displays that integrate a range of user interface technologies and graphics management capabilities, such as active privacy, TrueColor enhancement, cameras, optics, haptic feedback, and light effects; and infotainment and connected car solutions, including scalable Android infotainment for seamless connectivity, as well as onboard artificial intelligence-based voice assistant with natural language understanding.