Advisory Research Inc. reduced its position in shares of Visteon Corp (NYSE:VC) by 88.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,005 shares of the auto parts company’s stock after selling 23,894 shares during the quarter. Advisory Research Inc.’s holdings in Visteon were worth $376,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its position in Visteon by 6.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,040 shares of the auto parts company’s stock valued at $106,000 after purchasing an additional 61 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Visteon by 42.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,758 shares of the auto parts company’s stock valued at $220,000 after purchasing an additional 526 shares during the period. BNP Paribas Arbitrage SA increased its position in Visteon by 32.3% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 1,773 shares of the auto parts company’s stock valued at $219,000 after purchasing an additional 433 shares during the period. World Asset Management Inc purchased a new position in Visteon during the 3rd quarter valued at $220,000. Finally, Turner Investments LLC purchased a new position in Visteon during the 3rd quarter valued at $248,000.
A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Visteon from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $142.00 to $137.00 in a research report on Monday, January 22nd. Citigroup boosted their price objective on shares of Visteon from $113.00 to $126.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. Longbow Research assumed coverage on shares of Visteon in a research report on Friday, January 5th. They set a “buy” rating and a $160.00 price objective on the stock. Zacks Investment Research raised shares of Visteon from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research report on Wednesday, December 27th. Finally, B. Riley reissued a “buy” rating on shares of Visteon in a research report on Wednesday, November 1st. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $134.25.
Visteon announced that its board has authorized a share buyback program on Tuesday, January 16th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the auto parts company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, CEO Sachin Lawande sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $129.26, for a total value of $646,300.00. Following the sale, the chief executive officer now directly owns 8,595 shares of the company’s stock, valued at approximately $1,110,989.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 15,000 shares of company stock worth $1,938,500 over the last ninety days. Insiders own 0.19% of the company’s stock.
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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