Fiduciary Trust Co. bought a new stake in Gentex Co. (NASDAQ:GNTX) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,724 shares of the auto parts company’s stock, valued at approximately $201,000.
Several other large investors have also recently modified their holdings of GNTX. BlackRock Inc. boosted its position in Gentex by 0.9% during the fourth quarter. BlackRock Inc. now owns 24,277,225 shares of the auto parts company’s stock worth $490,643,000 after purchasing an additional 227,469 shares during the period. Vanguard Group Inc boosted its position in Gentex by 1.1% during the third quarter. Vanguard Group Inc now owns 24,110,056 shares of the auto parts company’s stock worth $517,401,000 after purchasing an additional 272,847 shares during the period. Dimensional Fund Advisors LP boosted its position in Gentex by 4.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,119,321 shares of the auto parts company’s stock worth $123,669,000 after purchasing an additional 283,696 shares during the period. Maj Invest Holding A S boosted its position in Gentex by 10.5% during the first quarter. Maj Invest Holding A S now owns 4,206,037 shares of the auto parts company’s stock worth $86,980,000 after purchasing an additional 400,743 shares during the period. Finally, Geode Capital Management LLC boosted its position in Gentex by 8.3% during the fourth quarter. Geode Capital Management LLC now owns 3,950,871 shares of the auto parts company’s stock worth $79,846,000 after purchasing an additional 303,378 shares during the period. Institutional investors own 82.67% of the company’s stock.
Gentex stock traded down $0.26 during mid-day trading on Friday, hitting $23.51. 919,208 shares of the company traded hands, compared to its average volume of 1,726,052. Gentex Co. has a one year low of $17.80 and a one year high of $25.33. The firm has a market cap of $6.08 billion, a PE ratio of 14.51, a PEG ratio of 2.41 and a beta of 1.15.
Gentex (NASDAQ:GNTX) last announced its earnings results on Wednesday, April 24th. The auto parts company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. Gentex had a net margin of 23.45% and a return on equity of 23.03%. The business had revenue of $468.60 million during the quarter, compared to analyst estimates of $463.79 million. During the same period in the previous year, the business posted $0.40 earnings per share. Gentex’s revenue for the quarter was up .7% on a year-over-year basis. Analysts anticipate that Gentex Co. will post 1.64 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.115 per share. The ex-dividend date is Tuesday, July 9th. This represents a $0.46 annualized dividend and a yield of 1.96%. Gentex’s payout ratio is presently 28.40%.
In other Gentex news, insider Neil Boehm sold 2,686 shares of Gentex stock in a transaction that occurred on Monday, March 18th. The shares were 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 of the company’s stock, valued at $892,824.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Matthew Chiodo sold 3,000 shares of Gentex stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $20.82, for a total transaction of $62,460.00. Following the transaction, the vice president now directly owns 34,454 shares in the company, valued at $717,332.28. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 2,009 shares of company stock valued at $35,318 and have sold 10,731 shares valued at $235,427. Insiders own 0.37% of the company’s stock.
A number of equities analysts have weighed in on the stock. BidaskClub lowered shares of Gentex from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Zacks Investment Research upgraded shares of Gentex from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Thursday, May 16th. BMO Capital Markets cut their price objective on shares of Gentex from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, April 2nd. Finally, ValuEngine upgraded shares of Gentex from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average 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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