Northwestern Mutual Investment Management Company LLC lowered its holdings in Visteon Corp (NYSE:VC) by 8.1% in the first quarter, HoldingsChannel.com reports. The fund owned 5,025 shares of the auto parts company’s stock after selling 440 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Visteon were worth $338,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in VC. Norges Bank purchased a new position in shares of Visteon in the fourth quarter valued at $22,797,000. Janus Henderson Group PLC increased its position in shares of Visteon by 12.0% in the first quarter. Janus Henderson Group PLC now owns 2,931,012 shares of the auto parts company’s stock valued at $197,404,000 after buying an additional 313,059 shares in the last quarter. Royce & Associates LP increased its position in shares of Visteon by 37,554.1% in the fourth quarter. Royce & Associates LP now owns 222,912 shares of the auto parts company’s stock valued at $13,437,000 after buying an additional 222,320 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Visteon during the 4th quarter worth about $10,611,000. Finally, Forsta AP Fonden increased its position in Visteon by 67.2% during the 4th quarter. Forsta AP Fonden now owns 378,300 shares of the auto parts company’s stock worth $22,804,000 after purchasing an additional 152,000 shares in the last quarter.
A number of analysts recently commented on the company. Zacks Investment Research cut Visteon from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 21st. Longbow Research set a $85.00 price objective on Visteon and gave the stock a “buy” rating in a research report on Tuesday. TheStreet cut Visteon from a “b-” rating to a “c” rating in a research report on Thursday, May 2nd. Morgan Stanley set a $73.00 price objective on Visteon and gave the stock a “sell” rating in a research report on Tuesday, March 5th. Finally, BMO Capital Markets lifted their price objective on Visteon from $91.00 to $103.00 and gave the stock an “outperform” rating in a research report on Monday, February 25th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $94.50.
VC traded up $0.22 during midday trading on Wednesday, hitting $51.43. The company’s stock had a trading volume of 6,069 shares, compared to its average volume of 625,794. Visteon Corp has a 52-week low of $44.04 and a 52-week high of $139.45.
Visteon (NYSE:VC) last posted its quarterly earnings results on Thursday, April 25th. The auto parts company reported $0.53 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.58). The business had revenue of $737.00 million during the quarter, compared to the consensus estimate of $713.99 million. Visteon’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period last year, the business earned $2.08 EPS.
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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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