Swiss National Bank lowered its stake in shares of Gentex Co. (NASDAQ:GNTX) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 477,800 shares of the auto parts company’s stock after selling 19,000 shares during the period. Swiss National Bank’s holdings in Gentex were worth $10,999,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of GNTX. Meeder Asset Management Inc. acquired a new stake in shares of Gentex during the first quarter worth about $110,000. Suntrust Banks Inc. acquired a new stake in shares of Gentex during the first quarter worth about $200,000. Columbia Asset Management acquired a new stake in shares of Gentex during the first quarter worth about $253,000. Cove Street Capital LLC raised its position in shares of Gentex by 2,558.5% during the first quarter. Cove Street Capital LLC now owns 11,086 shares of the auto parts company’s stock worth $255,000 after purchasing an additional 10,669 shares during the period. Finally, Bayesian Capital Management LP acquired a new stake in shares of Gentex during the first quarter worth about $261,000. Hedge funds and other institutional investors own 85.85% of the company’s stock.
GNTX has been the topic of a number of recent research reports. BidaskClub lowered Gentex from a “buy” rating to a “hold” rating in a research report on Wednesday. ValuEngine lowered Gentex from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Longbow Research reissued a “buy” rating and issued a $28.00 target price on shares of Gentex in a research report on Monday, July 23rd. Finally, Zacks Investment Research lowered Gentex from a “buy” rating to a “hold” rating in a research report on Friday, May 25th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $25.60.
In related news, Director Richard O. Schaum purchased 5,000 shares of the stock in a transaction on Thursday, August 2nd. The shares were purchased at an average price of $22.99 per share, with a total value of $114,950.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is owned by insiders.
Shares of Gentex stock opened at $22.86 on Wednesday. Gentex Co. has a 52-week low of $17.99 and a 52-week high of $25.41. The company has a market capitalization of $6.29 billion, a P/E ratio of 17.86, a PEG ratio of 1.28 and a beta of 1.34.
Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, July 20th. The auto parts company reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.01). The firm had revenue of $454.98 million during the quarter, compared to analyst estimates of $469.10 million. Gentex had a net margin of 24.25% and a return on equity of 20.27%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 EPS. equities analysts expect that Gentex Co. will post 1.66 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 17th. Shareholders of record on Friday, October 5th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Thursday, October 4th. Gentex’s dividend payout ratio (DPR) is 34.38%.
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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