Aperio Group LLC reduced its stake in Gentex Co. (NASDAQ:GNTX) by 5.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 90,986 shares of the auto parts company’s stock after selling 5,079 shares during the period. Aperio Group LLC’s holdings in Gentex were worth $1,953,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Principal Financial Group Inc. lifted its position in Gentex by 4.6% during the first quarter. Principal Financial Group Inc. now owns 1,271,462 shares of the auto parts company’s stock worth $29,270,000 after acquiring an additional 56,171 shares during the last quarter. Suntrust Banks Inc. acquired a new stake in Gentex during the first quarter worth approximately $200,000. State of Alaska Department of Revenue lifted its position in Gentex by 33.7% during the second quarter. State of Alaska Department of Revenue now owns 32,960 shares of the auto parts company’s stock worth $758,000 after acquiring an additional 8,300 shares during the last quarter. Bank of Montreal Can lifted its position in Gentex by 21.4% during the second quarter. Bank of Montreal Can now owns 117,524 shares of the auto parts company’s stock worth $2,705,000 after acquiring an additional 20,710 shares during the last quarter. Finally, West Coast Financial LLC acquired a new stake in Gentex during the second quarter worth approximately $3,334,000. Hedge funds and other institutional investors own 85.41% of the company’s stock.
NASDAQ GNTX opened at $21.83 on Friday. Gentex Co. has a 1-year low of $17.80 and a 1-year high of $25.41. The company has a market capitalization of $5.65 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 1.20 and a beta of 1.12.
Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, October 19th. The auto parts company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. Gentex had a net margin of 25.11% and a return on equity of 21.83%. The company had revenue of $460.25 million during the quarter, compared to the consensus estimate of $465.51 million. During the same period in the previous year, the business earned $0.31 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts predict that Gentex Co. will post 1.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 17th. Stockholders of record on Friday, October 5th were given a $0.11 dividend. The ex-dividend date was Thursday, October 4th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.02%. Gentex’s payout ratio is 34.38%.
In other news, CFO Kevin C. Nash sold 6,000 shares of Gentex stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $21.50, for a total value of $129,000.00. Following the completion of the sale, the chief financial officer now directly owns 32,732 shares in the company, valued at $703,738. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders bought 1,155 shares of company stock valued at $23,237. 0.60% of the stock is owned by company insiders.
GNTX has been the subject of several research reports. BidaskClub downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research report on Wednesday, September 5th. Zacks Investment Research downgraded shares of Gentex from a “hold” rating to a “sell” rating in a research report on Tuesday, September 18th. Longbow Research restated a “buy” rating and set a $28.00 price objective on shares of Gentex in a research report on Monday, July 23rd. Craig Hallum restated a “hold” rating and set a $20.00 price objective on shares of Gentex in a research report on Friday, October 19th. Finally, ValuEngine downgraded shares of Gentex from a “hold” rating to a “sell” rating in a research report on Saturday, October 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $24.50.
Gentex Company Profile
Gentex Corporation provides automatic-dimming and non-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 worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.
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