State of Wisconsin Investment Board reduced its position in Gentex Co. (NASDAQ:GNTX) by 8.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 332,119 shares of the auto parts company’s stock after selling 32,322 shares during the quarter. State of Wisconsin Investment Board owned about 0.12% of Gentex worth $7,645,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in GNTX. Millennium Management LLC lifted its position in Gentex by 87.0% during the first quarter. Millennium Management LLC now owns 3,394,226 shares of the auto parts company’s stock valued at $78,135,000 after purchasing an additional 1,579,436 shares during the last quarter. Wells Fargo & Company MN lifted its position in Gentex by 42.2% during the second quarter. Wells Fargo & Company MN now owns 2,712,561 shares of the auto parts company’s stock valued at $62,442,000 after purchasing an additional 804,911 shares during the last quarter. WBI Investments Inc. bought a new stake in Gentex during the first quarter valued at approximately $17,953,000. Origin Asset Management LLP bought a new stake in Gentex during the first quarter valued at approximately $16,142,000. Finally, Lord Abbett & CO. LLC bought a new stake in Gentex during the first quarter valued at approximately $14,572,000. Institutional investors own 86.33% of the company’s stock.
Several brokerages have issued reports on GNTX. ValuEngine lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. BidaskClub lowered shares of Gentex from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 31st. Zacks Investment Research lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Friday, May 25th. JPMorgan Chase & Co. dropped their target price on shares of Gentex from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday, April 24th. Finally, Longbow Research reiterated a “buy” rating and set a $28.00 target price on shares of Gentex in a research report on Monday, July 23rd. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Gentex currently has an average rating of “Hold” and a consensus target price of $25.60.
Shares of GNTX opened at $24.85 on Wednesday. The company has a market capitalization of $6.50 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.33. Gentex Co. has a fifty-two week low of $16.86 and a fifty-two week high of $25.41.
Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, July 20th. The auto parts company reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.01). The business had revenue of $454.98 million during 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 was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 earnings per share. research analysts predict that Gentex Co. will post 1.67 earnings per share for the current year.
In other Gentex news, Director Richard O. Schaum acquired 5,000 shares of the stock in a transaction dated 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.60% of the company’s stock.
Gentex Company Profile
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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