Janus Henderson Group PLC boosted its position in shares of Gentex Co. (NASDAQ:GNTX) by 375.1% in the 2nd quarter, Holdings Channel reports. The firm owned 606,138 shares of the auto parts company’s stock after buying an additional 478,560 shares during the period. Janus Henderson Group PLC’s holdings in Gentex were worth $13,954,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in Gentex by 19.5% in the 1st quarter. Victory Capital Management Inc. now owns 111,134 shares of the auto parts company’s stock worth $2,558,000 after purchasing an additional 18,165 shares during the last quarter. Prudential Financial Inc. grew its position in Gentex by 110.6% in the 1st quarter. Prudential Financial Inc. now owns 534,080 shares of the auto parts company’s stock worth $12,295,000 after purchasing an additional 280,470 shares during the last quarter. Swiss National Bank grew its position in Gentex by 2.1% in the 1st quarter. Swiss National Bank now owns 496,800 shares of the auto parts company’s stock worth $11,436,000 after purchasing an additional 10,400 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Gentex by 1.9% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 174,799 shares of the auto parts company’s stock worth $4,024,000 after purchasing an additional 3,341 shares during the last quarter. Finally, Chicago Equity Partners LLC bought a new position in Gentex in the 1st quarter worth about $630,000. 85.85% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Richard O. Schaum acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The stock was purchased at an average cost of $22.99 per share, for a total transaction of $114,950.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.60% of the stock is owned by corporate insiders.
Shares of GNTX stock opened at $22.91 on Friday. Gentex Co. has a 52 week low of $18.51 and a 52 week high of $25.41. The company has a market cap of $6.22 billion, a PE ratio of 16.07, a P/E/G ratio of 1.27 and a beta of 1.34.
Gentex (NASDAQ:GNTX) last released its earnings results on Friday, July 20th. The auto parts company reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.01). The business had revenue of $454.98 million for the quarter, compared to the consensus estimate of $469.10 million. Gentex had a return on equity of 20.27% and a net margin of 24.25%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 earnings per share. research analysts expect that Gentex Co. will post 1.66 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 17th. Stockholders of record on Friday, October 5th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.92%. Gentex’s dividend payout ratio (DPR) is currently 34.38%.
GNTX has been the subject of several recent analyst reports. BidaskClub cut shares of Gentex from a “buy” rating to a “hold” rating in a research report on Wednesday, September 5th. Longbow Research set a $28.00 price objective on shares of Gentex and gave the company a “buy” rating in a report on Friday, August 24th. ValuEngine cut shares of Gentex from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Finally, Zacks Investment Research cut shares of Gentex from a “buy” rating to a “hold” rating in a report on Friday, May 25th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $25.60.
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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