Gentex Corporation (GNTX) Shares Sold by American Research & Management Co.
American Research & Management Co. decreased its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 2.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,800 shares of the auto parts company’s stock after selling 800 shares during the period. American Research & Management Co.’s holdings in Gentex Corporation were worth $546,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of GNTX. First Citizens Bank & Trust Co. bought a new position in Gentex Corporation during the first quarter worth approximately $379,000. Profund Advisors LLC boosted its position in Gentex Corporation by 5.6% in the first quarter. Profund Advisors LLC now owns 40,105 shares of the auto parts company’s stock worth $855,000 after buying an additional 2,119 shares in the last quarter. Hollencrest Securities LLC bought a new position in Gentex Corporation during the first quarter worth approximately $297,000. Nationwide Fund Advisors boosted its position in Gentex Corporation by 0.8% in the first quarter. Nationwide Fund Advisors now owns 479,673 shares of the auto parts company’s stock worth $10,231,000 after buying an additional 3,649 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank bought a new position in Gentex Corporation during the first quarter worth approximately $919,000. 82.40% of the stock is owned by institutional investors.
Gentex Corporation (GNTX) traded up 0.17% during midday trading on Friday, reaching $17.30. 1,445,049 shares of the company were exchanged. The firm has a market capitalization of $4.94 billion, a PE ratio of 13.73 and a beta of 1.18. The company has a 50-day moving average of $17.99 and a 200 day moving average of $19.70. Gentex Corporation has a 52 week low of $16.06 and a 52 week high of $22.12.
Gentex Corporation (NASDAQ:GNTX) last released its earnings results on Friday, July 21st. The auto parts company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by $0.01. Gentex Corporation had a return on equity of 18.95% and a net margin of 21.01%. The business had revenue of $443.10 million for the quarter, compared to the consensus estimate of $446.36 million. During the same quarter last year, the business posted $0.30 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities analysts predict that Gentex Corporation will post $1.27 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 19th. Stockholders of record on Thursday, July 6th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.31%. This is an increase from Gentex Corporation’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Monday, July 3rd. Gentex Corporation’s dividend payout ratio (DPR) is 31.50%.
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A number of equities analysts have commented on GNTX shares. Zacks Investment Research cut shares of Gentex Corporation from a “hold” rating to a “sell” rating in a research note on Monday, June 26th. Wellington Shields cut shares of Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a research note on Thursday, May 4th. BidaskClub cut shares of Gentex Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Craig Hallum cut shares of Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research note on Monday, July 24th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $22.00 price objective (down previously from $25.00) on shares of Gentex Corporation in a research note on Monday, July 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $21.75.
In related news, Chairman Fred Bauer sold 239,400 shares of Gentex Corporation stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $17.33, for a total value of $4,148,802.00. Following the completion of the sale, the chairman now directly owns 5,771,128 shares in the company, valued at $100,013,648.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John A. Mulder sold 10,000 shares of Gentex Corporation stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $19.22, for a total value of $192,200.00. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.
Gentex Corporation Company Profile
Gentex Corporation designs and manufactures automatic-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. The Company’s business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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