Fred Bauer Sells 239,400 Shares of Gentex Corporation (GNTX) Stock
Gentex Corporation (NASDAQ:GNTX) Chairman Fred Bauer sold 239,400 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $17.33, for a total transaction of $4,148,802.00. Following the completion of the transaction, the chairman now owns 5,771,128 shares of the company’s stock, valued at $100,013,648.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Gentex Corporation (NASDAQ:GNTX) traded up 0.63% during trading on Wednesday, reaching $17.55. 2,538,322 shares of the company were exchanged. The firm has a 50-day moving average of $18.13 and a 200-day moving average of $19.82. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 13.93 and a beta of 1.18. Gentex Corporation has a 52-week low of $16.06 and a 52-week high of $22.12.
Gentex Corporation (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, July 21st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.01. Gentex Corporation had a net margin of 21.01% and a return on equity of 18.95%. The firm had revenue of $443.10 million during the quarter, compared to the consensus estimate of $446.36 million. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. On average, equities analysts forecast that Gentex Corporation will post $1.27 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 19th. Investors of record on Thursday, July 6th were paid a $0.10 dividend. This is a boost from Gentex Corporation’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Monday, July 3rd. Gentex Corporation’s payout ratio is currently 31.50%.
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Large investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC boosted its stake in shares of Gentex Corporation by 9.1% in the first quarter. Quadrant Capital Group LLC now owns 5,660 shares of the auto parts company’s stock worth $117,000 after buying an additional 471 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Gentex Corporation by 11.4% in the first quarter. Asset Management One Co. Ltd. now owns 8,500 shares of the auto parts company’s stock worth $181,000 after buying an additional 870 shares in the last quarter. LVM Capital Management Ltd. MI purchased a new stake in shares of Gentex Corporation during the second quarter worth about $194,000. BB&T Corp purchased a new stake in shares of Gentex Corporation during the first quarter worth about $200,000. Finally, HL Financial Services LLC purchased a new stake in shares of Gentex Corporation during the second quarter worth about $202,000. Institutional investors and hedge funds own 82.40% of the company’s stock.
GNTX has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Gentex Corporation from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Wednesday, April 26th. Wellington Shields cut shares of Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a report on Thursday, May 4th. Craig Hallum cut shares of Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a report on Monday, July 24th. BMO Capital Markets restated an “outperform” rating and set a $22.00 target price (down from $25.00) on shares of Gentex Corporation in a report on Monday, July 24th. Finally, FBR & Co restated an “outperform” rating and set a $25.00 target price on shares of Gentex Corporation in a report on Monday, July 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Gentex Corporation currently has a consensus rating of “Hold” and a consensus price target of $21.75.
Gentex Corporation Company Profile
Gentex Corporation designs and manufactures automatic-dimming rearview mirrors and electronics for the automotive industry, dimmable aircraft windows for the aviation industry, and commercial smoke alarms and signaling devices for the fire protection industry. The Company’s business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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