Great Lakes Advisors LLC increased its position in shares of Gentex Co. (NASDAQ:GNTX) by 1.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,235 shares of the auto parts company’s stock after buying an additional 971 shares during the quarter. Great Lakes Advisors LLC’s holdings in Gentex were worth $1,763,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Boston Partners acquired a new position in Gentex in the 1st quarter worth $76,910,000. Norges Bank acquired a new position in Gentex in the 4th quarter worth $61,373,000. Oregon Public Employees Retirement Fund boosted its stake in Gentex by 1,889.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,153,052 shares of the auto parts company’s stock worth $107,000 after purchasing an additional 2,044,853 shares during the period. Claybrook Capital LLC acquired a new position in Gentex in the 4th quarter worth $20,588,000. Finally, Squarepoint Ops LLC acquired a new position in Gentex in the 4th quarter worth $19,692,000. 82.67% of the stock is currently owned by institutional investors.
In other news, insider Neil Boehm sold 2,686 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now 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 through this hyperlink. Also, VP Matthew Chiodo sold 3,000 shares of Gentex stock in a transaction 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 of the company’s stock, valued at approximately $717,332.28. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 2,009 shares of company stock worth $35,318 and sold 10,731 shares worth $235,427. Company insiders own 0.37% of the company’s stock.
Shares of NASDAQ GNTX traded down $0.26 during trading hours on Friday, hitting $23.51. 919,208 shares of the stock were exchanged, compared to its average volume of 1,726,052. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 2.41 and a beta of 1.15. Gentex Co. has a 1-year low of $17.80 and a 1-year high of $25.33.
Gentex (NASDAQ:GNTX) last posted its quarterly earnings results 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 net margin of 23.45% and a return on equity of 23.03%. The business had revenue of $468.60 million for the quarter, compared to analyst estimates of $463.79 million. During the same quarter last year, the business posted $0.40 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts predict that Gentex Co. will post 1.64 earnings per share 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 $0.115 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $0.46 dividend on an annualized basis and a yield of 1.96%. Gentex’s dividend payout ratio is currently 28.40%.
A number of equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Gentex from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Wednesday. BidaskClub downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets dropped their target price on shares of Gentex from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, April 2nd. Finally, ValuEngine raised shares of Gentex from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Gentex 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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