Hsbc Holdings PLC decreased its stake in shares of Vontier Corporation (NYSE:VNT – Free Report) by 66.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,063 shares of the company’s stock after selling 52,830 shares during the period. Hsbc Holdings PLC’s holdings in Vontier were worth $1,010,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of VNT. Allworth Financial LP lifted its holdings in Vontier by 212.9% during the 3rd quarter. Allworth Financial LP now owns 948 shares of the company’s stock worth $40,000 after buying an additional 645 shares during the last quarter. Employees Retirement System of Texas bought a new stake in shares of Vontier in the 3rd quarter valued at approximately $58,000. Clearstead Advisors LLC increased its holdings in shares of Vontier by 82.8% in the 4th quarter. Clearstead Advisors LLC now owns 1,665 shares of the company’s stock valued at $62,000 after acquiring an additional 754 shares during the last quarter. Quarry LP raised its position in shares of Vontier by 5,897.1% during the 3rd quarter. Quarry LP now owns 2,099 shares of the company’s stock valued at $88,000 after acquiring an additional 2,064 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its position in shares of Vontier by 152.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,634 shares of the company’s stock valued at $98,000 after acquiring an additional 1,591 shares in the last quarter. 95.83% of the stock is currently owned by institutional investors and hedge funds.
Vontier Stock Performance
Shares of VNT opened at $29.29 on Tuesday. The firm has a fifty day moving average of $29.32 and a 200-day moving average of $34.92. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 10.35, a price-to-earnings-growth ratio of 1.11 and a beta of 1.16. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.90 and a current ratio of 1.23. Vontier Corporation has a 1 year low of $27.25 and a 1 year high of $48.20.
Vontier Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, June 4th. Vontier’s payout ratio is 3.53%.
Vontier declared that its Board of Directors has initiated a share repurchase program on Tuesday, May 19th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 25.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Analysts Set New Price Targets
VNT has been the topic of several research analyst reports. Evercore set a $36.00 price objective on Vontier in a research note on Monday, May 11th. Robert W. Baird set a $37.00 target price on shares of Vontier in a report on Friday, May 8th. Wall Street Zen cut shares of Vontier from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Wolfe Research restated an “outperform” rating and issued a $43.00 price target on shares of Vontier in a research report on Thursday. Finally, KeyCorp decreased their price target on shares of Vontier from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Monday. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $41.89.
Check Out Our Latest Research Report on VNT
Vontier Company Profile
Vontier is a global industrial technology company focused on advancing mobility infrastructure and transportation solutions. Established as a standalone public company in October 2020 through the spin-off of Fortive’s mobility and transportation platforms, Vontier is headquartered in Raleigh, North Carolina. The company’s mission centers on delivering innovative products and services that help customers meet evolving demands in fuel retail, fleet management, and automotive service.
The company’s diversified portfolio spans several well-known brands.
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