State of Alaska Department of Revenue trimmed its holdings in Gentex Co. (NASDAQ:GNTX) by 18.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,302 shares of the auto parts company’s stock after selling 10,383 shares during the quarter. State of Alaska Department of Revenue’s holdings in Gentex were worth $1,247,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of GNTX. State of Wisconsin Investment Board grew its stake in Gentex by 23.2% in the first quarter. State of Wisconsin Investment Board now owns 406,504 shares of the auto parts company’s stock worth $8,406,000 after purchasing an additional 76,425 shares in the last quarter. Burney Co. bought a new position in Gentex in the first quarter worth approximately $310,000. Fort L.P. grew its stake in Gentex by 38.9% in the first quarter. Fort L.P. now owns 80,992 shares of the auto parts company’s stock worth $1,675,000 after purchasing an additional 22,700 shares in the last quarter. Quantinno Capital Management LP bought a new position in Gentex in the first quarter worth approximately $866,000. Finally, Advisory Services Network LLC grew its stake in Gentex by 4,080.1% in the first quarter. Advisory Services Network LLC now owns 10,492 shares of the auto parts company’s stock worth $217,000 after purchasing an additional 10,241 shares in the last quarter. Hedge funds and other institutional investors own 80.90% of the company’s stock.
Shares of NASDAQ GNTX opened at $26.44 on Friday. The stock has a market capitalization of $6.58 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 3.07 and a beta of 1.22. The stock’s fifty day simple moving average is $27.01 and its two-hundred day simple moving average is $24.49. Gentex Co. has a 12-month low of $17.80 and a 12-month high of $28.43.
Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, July 19th. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. The business had revenue of $468.71 million for the quarter, compared to analysts’ expectations of $462.65 million. Gentex had a return on equity of 23.08% and a net margin of 23.28%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 EPS. As a group, analysts forecast that Gentex Co. will post 1.68 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be given a dividend of $0.115 per share. The ex-dividend date is Tuesday, October 8th. This represents a $0.46 annualized dividend and a yield of 1.74%. Gentex’s dividend payout ratio (DPR) is presently 28.40%.
Several research analysts recently issued reports on the company. ValuEngine cut Gentex from a “hold” rating to a “sell” rating in a research note on Wednesday. BidaskClub raised Gentex from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. Longbow Research reissued a “hold” rating on shares of Gentex in a research note on Sunday, July 7th. B. Riley set a $29.00 price objective on Gentex and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Zacks Investment Research raised Gentex from a “sell” rating to a “hold” rating and set a $27.00 price objective on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Gentex presently has a consensus rating of “Hold” and an average target price of $23.52.
In other news, insider Steven R. Downing sold 3,810 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $25.32, for a total value of $96,469.20. Following the completion of the sale, the insider now owns 124,078 shares of the company’s stock, valued at approximately $3,141,654.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Neil Boehm sold 5,640 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $25.32, for a total value of $142,804.80. Following the completion of the sale, the chief technology officer now directly owns 39,520 shares of the company’s stock, valued at approximately $1,000,646.40. The disclosure for this sale can be found here. Insiders have sold a total of 64,043 shares of company stock worth $1,775,639 in the last ninety days. Insiders own 0.37% of the company’s stock.
Gentex Company Profile
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.
Featured Story: Catch-Up Contributions
Want to see what other hedge funds are holding GNTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gentex Co. (NASDAQ:GNTX).
Receive News & Ratings for Gentex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gentex and related companies with MarketBeat.com's FREE daily email newsletter.