Virginia Retirement Systems ET AL raised its position in shares of Gentex Co. (NASDAQ:GNTX) by 6.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 107,700 shares of the auto parts company’s stock after purchasing an additional 6,200 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Gentex were worth $2,227,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of GNTX. TrimTabs Asset Management LLC bought a new stake in shares of Gentex during the 4th quarter worth $1,040,000. Rhumbline Advisers boosted its stake in shares of Gentex by 31.5% during the 4th quarter. Rhumbline Advisers now owns 802,172 shares of the auto parts company’s stock worth $16,212,000 after acquiring an additional 192,037 shares in the last quarter. Morgan Stanley boosted its position in shares of Gentex by 14.0% in the third quarter. Morgan Stanley now owns 1,050,613 shares of the auto parts company’s stock worth $22,547,000 after buying an additional 129,069 shares during the period. Cardinal Capital Management boosted its position in shares of Gentex by 3.0% in the fourth quarter. Cardinal Capital Management now owns 30,619 shares of the auto parts company’s stock worth $618,000 after buying an additional 901 shares during the period. Finally, Kays Financial Advisory Corp ADV boosted its position in shares of Gentex by 6.0% in the fourth quarter. Kays Financial Advisory Corp ADV now owns 68,763 shares of the auto parts company’s stock worth $1,390,000 after buying an additional 3,911 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.
In other Gentex news, insider Neil Boehm sold 2,686 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $20.82, for a total transaction of $55,922.52. Following the transaction, the insider now directly owns 42,883 shares in the company, valued at $892,824.06. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gary F. Goode sold 5,045 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $23.20, for a total value of $117,044.00. Following the transaction, the director now owns 21,045 shares in the company, valued at $488,244. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 2,009 shares of company stock worth $35,318 and have sold 10,731 shares worth $235,427. 0.37% of the stock is owned by company insiders.
Shares of NASDAQ:GNTX traded down $0.29 during midday trading on Wednesday, hitting $22.08. 762,841 shares of the stock were exchanged, compared to its average volume of 1,771,833. Gentex Co. has a 52-week low of $17.80 and a 52-week high of $25.41. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 13.63, a P/E/G ratio of 2.24 and a beta of 1.14.
Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Wednesday, April 24th. The auto parts company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. Gentex had a return on equity of 23.03% and a net margin of 23.45%. The business had revenue of $468.60 million during the quarter, compared to analyst estimates of $463.79 million. During the same period last year, the company earned $0.40 earnings per share. Gentex’s quarterly revenue was up .7% compared to the same quarter last year. On average, sell-side analysts anticipate that Gentex Co. will post 1.64 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th were issued a dividend of $0.115 per share. This is a positive change from Gentex’s previous quarterly dividend of $0.11. This represents a $0.46 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Tuesday, April 9th. Gentex’s dividend payout ratio (DPR) is 28.40%.
GNTX has been the subject of several recent analyst reports. BMO Capital Markets decreased their target price on Gentex from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, April 2nd. BidaskClub raised Gentex from a “sell” rating to a “hold” rating in a research report on Thursday, March 7th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $23.00 target price on shares of Gentex in a research report on Monday, February 4th. ValuEngine cut Gentex from a “hold” rating to a “sell” rating in a research report on Thursday, February 14th. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of Gentex in a report on Wednesday, January 30th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Gentex presently has a consensus rating of “Hold” and an average target price of $22.28.
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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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