Gateway Investment Advisers LLC decreased its holdings in Gentex Co. (NASDAQ:GNTX) by 1.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 74,305 shares of the auto parts company’s stock after selling 1,208 shares during the period. Gateway Investment Advisers LLC’s holdings in Gentex were worth $1,537,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of GNTX. Bank of New York Mellon Corp grew its position in Gentex by 24.5% in the third quarter. Bank of New York Mellon Corp now owns 4,966,771 shares of the auto parts company’s stock valued at $106,585,000 after acquiring an additional 976,219 shares in the last quarter. Franklin Resources Inc. grew its position in Gentex by 9.1% in the third quarter. Franklin Resources Inc. now owns 158,530 shares of the auto parts company’s stock valued at $3,402,000 after acquiring an additional 13,162 shares in the last quarter. Hsbc Holdings PLC grew its position in Gentex by 10.6% in the third quarter. Hsbc Holdings PLC now owns 40,584 shares of the auto parts company’s stock valued at $871,000 after acquiring an additional 3,884 shares in the last quarter. JPMorgan Chase & Co. grew its position in Gentex by 10.7% in the third quarter. JPMorgan Chase & Co. now owns 867,564 shares of the auto parts company’s stock valued at $18,618,000 after acquiring an additional 83,550 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Gentex in the third quarter valued at approximately $428,000. Hedge funds and other institutional investors own 85.18% of the company’s stock.
In related news, Director James H. Wallace sold 24,000 shares of the firm’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $21.40, for a total transaction of $513,600.00. Following the transaction, the director now directly owns 29,400 shares in the company, valued at $629,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Neil Boehm sold 2,686 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $20.82, for a total value of $55,922.52. Following the transaction, the insider now owns 42,883 shares in the company, valued at $892,824.06. The disclosure for this sale can be found here. In the last three months, insiders have bought 2,009 shares of company stock valued at $35,318 and have sold 29,686 shares valued at $631,983. 0.37% of the stock is currently owned by company insiders.
GNTX has been the subject of several recent research reports. Zacks Investment Research raised shares of Gentex from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Monday, December 31st. BidaskClub raised shares of Gentex from a “hold” rating to a “buy” rating in a research report on Saturday, January 12th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Gentex in a research report on Wednesday, January 30th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Gentex in a research report on Monday, February 4th. Finally, ValuEngine raised shares of Gentex from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $22.58.
GNTX stock opened at $21.67 on Tuesday. Gentex Co. has a twelve month low of $17.80 and a twelve month high of $25.41. The company has a market cap of $5.61 billion, a PE ratio of 13.38, a P/E/G ratio of 2.24 and a beta of 1.11.
Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Wednesday, January 30th. The auto parts company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Gentex had a return on equity of 23.06% and a net margin of 23.88%. The company had revenue of $453.40 million for the quarter, compared to analyst estimates of $477.41 million. During the same period in the previous year, the business posted $0.46 EPS. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. Research analysts expect that Gentex Co. will post 1.62 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.115 per share. The ex-dividend date is Tuesday, April 9th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.12%. This is an increase from Gentex’s previous quarterly dividend of $0.11. Gentex’s dividend payout ratio (DPR) is presently 28.40%.
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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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