Vontier (NYSE:VNT) Given New $43.00 Price Target at KeyCorp

Vontier (NYSE:VNT) had its target price hoisted by KeyCorp from $40.00 to $43.00 in a research note released on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts have also recently issued reports on VNT. Weiss Ratings upgraded Vontier from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 4th. Wolfe Research restated an “outperform” rating and set a $43.00 target price on shares of Vontier in a research report on Thursday, July 9th. Finally, Robert W. Baird set a $39.00 price target on shares of Vontier in a research note on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $41.86.

Vontier Stock Performance

NYSE:VNT traded up $2.18 during mid-day trading on Friday, reaching $42.08. The stock had a trading volume of 4,229,803 shares, compared to its average volume of 1,213,586. Vontier has a twelve month low of $27.25 and a twelve month high of $48.20. The business has a 50 day simple moving average of $33.20 and a 200 day simple moving average of $33.80. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 1.26 and a beta of 1.13. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.94 and a current ratio of 1.25.

Vontier (NYSE:VNT) last released its earnings results on Thursday, November 5th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.08. The company had revenue of $736.90 million for the quarter, compared to analysts’ expectations of $727.98 million. Vontier had a return on equity of 38.57% and a net margin of 11.34%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 EPS. On average, analysts expect that Vontier will post 3.49 earnings per share for the current fiscal year.

Vontier Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd were paid a dividend of $0.0250 per share. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $0.10 annualized dividend and a dividend yield of 0.2%. Vontier’s payout ratio is 4.15%.

Institutional Investors Weigh In On Vontier

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Vontier during the second quarter worth $388,315,000. Turtle Creek Asset Management Inc. grew its position in shares of Vontier by 17.5% in the first quarter. Turtle Creek Asset Management Inc. now owns 2,114,615 shares of the company’s stock valued at $75,005,000 after purchasing an additional 314,211 shares during the last quarter. Corient Private Wealth LP acquired a new stake in shares of Vontier in the second quarter valued at approximately $65,037,000. Russell Investments Group Ltd. increased its stake in shares of Vontier by 2.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,918,476 shares of the company’s stock worth $60,240,000 after purchasing an additional 50,713 shares in the last quarter. Finally, Heron Bay Capital Management purchased a new position in shares of Vontier during the 2nd quarter worth approximately $55,830,000. Institutional investors and hedge funds own 95.83% of the company’s stock.

Key Stories Impacting Vontier

Here are the key news stories impacting Vontier this week:

• Positive Sentiment: Vontier reported third-quarter EPS of $0.92, beating the $0.84 consensus, and revenue of $736.9 million, above estimates of $728.0 million. Coverage also highlighted margin expansion and cost savings; the company raised its full-year guidance. Vontier Q3 results
• Positive Sentiment: Citigroup raised its price target to $47 from $44 and assigned a Buy rating, while KeyCorp lifted its target to $43 from $40 and maintained an Overweight rating. The upgrades may reinforce investor confidence after the earnings beat.
• Positive Sentiment: The company declared its regular dividend, continuing shareholder returns. Vontier declares regular dividend
• Neutral Sentiment: Despite the earnings beat, revenue declined 2.1% year over year. A Q3 analysis pointed to margin improvement but a cautious demand outlook, suggesting growth may remain a concern. Q3 analysis
• Negative Sentiment: A separate valuation analysis said VNT could be about 7% overvalued, which may limit further upside even after the raised guidance. Vontier valuation analysis

Vontier Company Profile

Vontier Corporation (NYSE:VNT) is a global industrial technology company that develops and provides solutions for the mobility, transportation and connected infrastructure markets. Its products and services help businesses manage fueling, fleet operations, vehicle maintenance, repair and diagnostics, and related workflows.

Vontier’s portfolio includes technologies for retail and commercial fueling, fuel measurement and environmental compliance, fleet tracking and telematics, automotive repair equipment, diagnostic tools and aftermarket services.