Azimuth Capital Management LLC reduced its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 101,850 shares of the auto parts company’s stock after selling 2,200 shares during the quarter. Azimuth Capital Management LLC’s holdings in Gentex were worth $2,345,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. American International Group Inc. raised its stake in shares of Gentex by 0.3% in the second quarter. American International Group Inc. now owns 616,195 shares of the auto parts company’s stock valued at $14,185,000 after buying an additional 2,098 shares during the period. MUFG Americas Holdings Corp raised its stake in shares of Gentex by 61.9% in the second quarter. MUFG Americas Holdings Corp now owns 5,665 shares of the auto parts company’s stock valued at $130,000 after buying an additional 2,165 shares during the period. First Republic Investment Management Inc. raised its stake in shares of Gentex by 12.6% in the first quarter. First Republic Investment Management Inc. now owns 19,891 shares of the auto parts company’s stock valued at $458,000 after buying an additional 2,220 shares during the period. Atria Investments LLC raised its stake in shares of Gentex by 5.5% in the first quarter. Atria Investments LLC now owns 45,440 shares of the auto parts company’s stock valued at $1,046,000 after buying an additional 2,350 shares during the period. Finally, Wright Investors Service Inc. raised its stake in shares of Gentex by 4.4% in the second quarter. Wright Investors Service Inc. now owns 58,400 shares of the auto parts company’s stock valued at $1,344,000 after buying an additional 2,465 shares during the period. Institutional investors and hedge funds own 86.21% of the company’s stock.
Several analysts have issued reports on the company. BidaskClub upgraded Gentex from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. ValuEngine lowered Gentex from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Zacks Investment Research lowered Gentex from a “buy” rating to a “hold” rating in a research note on Friday, May 25th. Finally, Longbow Research set a $28.00 target price on Gentex and gave the company a “buy” rating in a research note on Friday, August 24th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $25.60.
In other news, Director John A. Mulder sold 5,000 shares of Gentex stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by insiders.
Shares of GNTX opened at $23.63 on Thursday. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 1.29 and a beta of 1.33. Gentex Co. has a 1 year low of $17.52 and a 1 year high of $25.41.
Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, July 20th. The auto parts company reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.01). The company had revenue of $454.98 million during the quarter, compared to analysts’ expectations of $469.10 million. Gentex had a net margin of 24.25% and a return on equity of 20.27%. Gentex’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 earnings per share. equities research analysts predict that Gentex Co. will post 1.66 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 17th. Stockholders of record on Friday, October 5th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.86%. Gentex’s dividend payout ratio (DPR) is presently 34.38%.
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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