Reinhart Partners Inc. trimmed its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 41.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 124,433 shares of the auto parts company’s stock after selling 87,171 shares during the period. Reinhart Partners Inc.’s holdings in Gentex were worth $3,426,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of GNTX. Sigma Planning Corp grew its position in shares of Gentex by 2.2% during the second quarter. Sigma Planning Corp now owns 17,943 shares of the auto parts company’s stock worth $442,000 after acquiring an additional 386 shares during the last quarter. Buckhead Capital Management LLC grew its position in Gentex by 0.3% in the 2nd quarter. Buckhead Capital Management LLC now owns 136,183 shares of the auto parts company’s stock valued at $3,351,000 after buying an additional 405 shares in the last quarter. Rowland & Co. Investment Counsel ADV grew its position in Gentex by 4.5% in the 3rd quarter. Rowland & Co. Investment Counsel ADV now owns 10,345 shares of the auto parts company’s stock valued at $285,000 after buying an additional 450 shares in the last quarter. We Are One Seven LLC grew its position in Gentex by 1.5% in the 3rd quarter. We Are One Seven LLC now owns 34,974 shares of the auto parts company’s stock valued at $963,000 after buying an additional 525 shares in the last quarter. Finally, BancorpSouth Bank grew its position in Gentex by 2.3% in the 2nd quarter. BancorpSouth Bank now owns 23,799 shares of the auto parts company’s stock valued at $585,000 after buying an additional 534 shares in the last quarter. 80.83% of the stock is currently owned by institutional investors.
In other Gentex news, SVP Roger Perry Campbell sold 1,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $88.92, for a total transaction of $133,380.00. Also, Director Gary F. Goode sold 9,414 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $28.10, for a total value of $264,533.40. Following the transaction, the director now owns 29,817 shares in the company, valued at approximately $837,857.70. The disclosure for this sale can be found here. Insiders sold 42,914 shares of company stock worth $1,284,113 in the last 90 days. 0.37% of the stock is currently owned by corporate insiders.
Shares of NASDAQ:GNTX traded down $0.18 during trading hours on Friday, hitting $29.21. 990,100 shares of the company’s stock traded hands, compared to its average volume of 1,697,518. The company’s fifty day simple moving average is $27.58 and its two-hundred day simple moving average is $25.44. Gentex Co. has a 52 week low of $19.24 and a 52 week high of $29.69. The company has a market cap of $7.42 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 3.56 and a beta of 1.17.
Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, October 18th. The auto parts company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. Gentex had a return on equity of 22.87% and a net margin of 23.09%. The firm had revenue of $477.76 million for the quarter, compared to the consensus estimate of $475.59 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. Analysts expect that Gentex Co. will post 1.64 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were issued a $0.115 dividend. The ex-dividend date was Tuesday, October 8th. This represents a $0.46 dividend on an annualized basis and a yield of 1.57%. Gentex’s dividend payout ratio is currently 28.40%.
A number of brokerages recently issued reports on GNTX. Guggenheim set a $31.00 target price on shares of Gentex and gave the company a “buy” rating in a research report on Monday, October 21st. Zacks Investment Research lowered shares of Gentex from a “hold” rating to a “sell” rating and set a $29.00 target price for the company. in a research report on Thursday, October 17th. BidaskClub upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research report on Thursday. B. Riley increased their target price on shares of Gentex from $29.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, ValuEngine upgraded shares of Gentex from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $27.28.
Gentex Company Profile
Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors 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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