Gentex Co. (NASDAQ:GNTX – Free Report) – Analysts at Seaport Res Ptn dropped their FY2024 earnings per share (EPS) estimates for Gentex in a research note issued to investors on Sunday, April 28th. Seaport Res Ptn analyst G. Chin now forecasts that the auto parts company will post earnings per share of $2.10 for the year, down from their prior estimate of $2.34. The consensus estimate for Gentex’s current full-year earnings is $2.17 per share.
Gentex (NASDAQ:GNTX – Get Free Report) last issued its quarterly earnings data on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Gentex had a return on equity of 19.19% and a net margin of 18.77%. The company had revenue of $590.23 million for the quarter, compared to the consensus estimate of $600.38 million. During the same period in the prior year, the company earned $0.42 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year.
Read Our Latest Stock Analysis on GNTX
Gentex Stock Performance
Shares of GNTX opened at $33.96 on Wednesday. The firm has a market capitalization of $7.86 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 0.73 and a beta of 0.99. Gentex has a 52 week low of $25.86 and a 52 week high of $37.58. The business’s fifty day moving average price is $35.63 and its two-hundred day moving average price is $33.15.
Institutional Investors Weigh In On Gentex
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC increased its holdings in Gentex by 15.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 411,535 shares of the auto parts company’s stock worth $14,865,000 after purchasing an additional 55,748 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Gentex by 3.7% during the first quarter. Private Advisor Group LLC now owns 19,768 shares of the auto parts company’s stock worth $714,000 after buying an additional 704 shares in the last quarter. JLB & Associates Inc. grew its holdings in shares of Gentex by 1.7% during the first quarter. JLB & Associates Inc. now owns 24,381 shares of the auto parts company’s stock worth $881,000 after buying an additional 416 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Gentex by 351.9% in the 1st quarter. Commonwealth Equity Services LLC now owns 225,136 shares of the auto parts company’s stock valued at $8,132,000 after buying an additional 175,313 shares during the last quarter. Finally, Greenleaf Trust lifted its stake in Gentex by 61.7% in the 1st quarter. Greenleaf Trust now owns 15,309 shares of the auto parts company’s stock valued at $553,000 after acquiring an additional 5,843 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Gentex
In related news, CFO Kevin C. Nash sold 13,500 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total value of $446,040.00. Following the completion of the sale, the chief financial officer now owns 44,321 shares in the company, valued at approximately $1,464,365.84. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.41% of the company’s stock.
Gentex Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, April 5th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Thursday, April 4th. Gentex’s dividend payout ratio is currently 25.40%.
About Gentex
Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers 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, automotive suppliers, and various aftermarket and accessory customers.
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