Riverbridge Partners LLC decreased its stake in shares of Gentex Co. (NASDAQ:GNTX) by 14.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,056,509 shares of the auto parts company’s stock after selling 706,990 shares during the period. Gentex comprises 1.7% of Riverbridge Partners LLC’s portfolio, making the stock its 16th largest holding. Riverbridge Partners LLC owned about 1.55% of Gentex worth $81,982,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Bruderman Asset Management LLC bought a new stake in shares of Gentex during the 2nd quarter valued at $112,000. Jane Street Group LLC purchased a new position in Gentex during the third quarter valued at $296,000. First Hawaiian Bank purchased a new position in Gentex during the third quarter valued at $306,000. Virtu Financial LLC purchased a new position in Gentex during the third quarter valued at $313,000. Finally, Carnegie Capital Asset Management LLC purchased a new position in Gentex during the third quarter valued at $338,000. Institutional investors own 85.93% of the company’s stock.
In related news, General Counsel Scott P. Ryan sold 3,000 shares of Gentex stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $19.88, for a total transaction of $59,640.00. Following the completion of the sale, the general counsel now owns 22,513 shares in the company, valued at approximately $447,558.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have purchased a total of 1,167 shares of company stock valued at $23,226 in the last quarter. 0.60% of the stock is currently owned by company insiders.
Shares of GNTX stock traded up $0.11 during trading hours on Monday, reaching $22.17. 52,280 shares of the stock were exchanged, compared to its average volume of 1,843,999. Gentex Co. has a 12-month low of $17.80 and a 12-month high of $25.41. The stock has a market cap of $5.65 billion, a PE ratio of 17.32, a P/E/G ratio of 1.09 and a beta of 1.11.
Gentex (NASDAQ:GNTX) last announced its quarterly earnings data 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 analyst estimates of $465.51 million. During the same quarter last year, the business posted $0.31 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts predict that Gentex Co. will post 1.65 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 23rd. Investors of record on Wednesday, January 9th will be issued a dividend of $0.11 per share. The ex-dividend date is Tuesday, January 8th. This represents a $0.44 dividend on an annualized basis and a yield of 1.98%. Gentex’s payout ratio is 34.38%.
Several research firms recently weighed in on GNTX. BidaskClub raised shares of Gentex from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 7th. KeyCorp started coverage on shares of Gentex in a research note on Monday, December 10th. They issued a “sector weight” rating for the company. Jefferies Financial Group started coverage on shares of Gentex in a research note on Tuesday, December 4th. They issued a “hold” rating and a $24.00 price objective for the company. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Gentex in a research note on Wednesday, November 14th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $24.11.
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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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