Unigestion Holding SA increased its stake in shares of Gentex Co. (NASDAQ:GNTX) by 229.6% during the second quarter, HoldingsChannel reports. The fund owned 202,059 shares of the auto parts company’s stock after acquiring an additional 140,758 shares during the quarter. Unigestion Holding SA’s holdings in Gentex were worth $4,973,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Creative Financial Designs Inc. ADV bought a new stake in Gentex in the 1st quarter valued at $27,000. Bremer Bank National Association bought a new stake in Gentex in the 1st quarter valued at $29,000. Icon Wealth Partners LLC bought a new stake in Gentex in the 1st quarter valued at $31,000. Carroll Financial Associates Inc. increased its holdings in Gentex by 159.1% in the 2nd quarter. Carroll Financial Associates Inc. now owns 1,285 shares of the auto parts company’s stock valued at $31,000 after buying an additional 789 shares during the period. Finally, Dubuque Bank & Trust Co. bought a new stake in Gentex in the 1st quarter valued at $33,000. 82.58% of the stock is currently owned by hedge funds and other institutional investors.
GNTX has been the topic of several analyst reports. Longbow Research reissued a “hold” rating on shares of Cooper Tire & Rubber in a report on Sunday, July 7th. B. Riley set a $6.00 target price on shares of Intevac and gave the company a “hold” rating in a research note on Friday, July 19th. BMO Capital Markets restated a “hold” rating on shares of First Majestic Silver in a research note on Tuesday, April 2nd. ValuEngine downgraded shares of Vereit from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, BidaskClub downgraded shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $23.66.
Shares of NASDAQ:GNTX opened at $27.04 on Friday. Gentex Co. has a 52 week low of $17.80 and a 52 week high of $27.21. The firm has a fifty day moving average price of $24.29. The firm has a market cap of $6.93 billion, a P/E ratio of 16.69, a PEG ratio of 3.24 and a beta of 1.21.
Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, July 19th. The auto parts company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. Gentex had a net margin of 23.28% and a return on equity of 23.08%. The company had revenue of $468.71 million for the quarter, compared to the consensus estimate of $462.65 million. During the same quarter in the previous year, the company earned $0.40 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, analysts predict that Gentex Co. will post 1.67 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th were paid a $0.115 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.46 annualized dividend and a dividend yield of 1.70%. Gentex’s dividend payout ratio is presently 28.40%.
In related news, Director Gary F. Goode sold 5,045 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $23.20, for a total transaction of $117,044.00. Following the transaction, the director now owns 21,045 shares in the company, valued at approximately $488,244. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Steven R. Downing sold 3,810 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $25.32, for a total transaction of $96,469.20. Following the transaction, the insider now owns 124,078 shares in the company, valued at approximately $3,141,654.96. The disclosure for this sale can be found here. Insiders sold a total of 38,853 shares of company stock worth $982,793 in the last 90 days. 0.37% of the stock is owned by corporate insiders.
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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