Geode Capital Management LLC lowered its holdings in Gentex Co. (NASDAQ:GNTX) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,421,060 shares of the auto parts company’s stock after selling 33,244 shares during the quarter. Geode Capital Management LLC owned approximately 1.21% of Gentex worth $71,670,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. DekaBank Deutsche Girozentrale bought a new stake in shares of Gentex in the 3rd quarter valued at about $105,000. Ffcm LLC bought a new stake in shares of Gentex in the 3rd quarter valued at about $174,000. Hikari Power Ltd bought a new stake in shares of Gentex in the 4th quarter valued at about $203,000. Essex Financial Services Inc. bought a new stake in shares of Gentex in the 4th quarter valued at about $205,000. Finally, Columbia Asset Management bought a new stake in shares of Gentex in the 3rd quarter valued at about $208,000. Institutional investors and hedge funds own 84.11% of the company’s stock.
GNTX has been the subject of several recent research reports. BidaskClub upgraded shares of Gentex from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. BMO Capital Markets boosted their price target on shares of Gentex to $28.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Zacks Investment Research upgraded shares of Gentex from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, December 26th. Longbow Research initiated coverage on shares of Gentex in a report on Friday, January 5th. They issued a “buy” rating and a $25.00 price target for the company. Finally, ValuEngine upgraded shares of Gentex from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Gentex has a consensus rating of “Buy” and an average price target of $25.50.
Gentex Co. (NASDAQ:GNTX) opened at $23.47 on Wednesday. The company has a market cap of $6,410.48, a P/E ratio of 16.65, a P/E/G ratio of 1.49 and a beta of 1.31. Gentex Co. has a 52 week low of $16.59 and a 52 week high of $24.07.
Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, January 26th. The auto parts company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. The firm had revenue of $459.57 million during the quarter, compared to analyst estimates of $449.43 million. Gentex had a net margin of 22.66% and a return on equity of 18.35%. Gentex’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 EPS. equities analysts expect that Gentex Co. will post 1.62 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Friday, April 6th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Thursday, April 5th. This is a positive change from Gentex’s previous quarterly dividend of $0.10. Gentex’s payout ratio is 28.37%.
Gentex announced that its board has authorized a stock repurchase program on Friday, March 9th that authorizes the company to buyback 20,000,000 outstanding shares. This buyback authorization authorizes the auto parts company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
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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