US Bancorp DE cut its stake in shares of Gentex Co. (NASDAQ:GNTX) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 183,960 shares of the auto parts company’s stock after selling 7,743 shares during the quarter. US Bancorp DE owned approximately 0.06% of Gentex worth $3,854,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale bought a new position in Gentex in the 3rd quarter worth approximately $105,000. Ffcm LLC bought a new position in Gentex in the 3rd quarter worth approximately $174,000. Verition Fund Management LLC bought a new position in Gentex in the 2nd quarter worth approximately $195,000. Hikari Power Ltd bought a new position in Gentex in the 4th quarter worth approximately $203,000. Finally, Columbia Asset Management bought a new position in Gentex in the 3rd quarter worth approximately $208,000. Institutional investors own 81.09% of the company’s stock.
In related news, Director James H. Wallace sold 12,000 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $23.40, for a total transaction of $280,800.00. Following the sale, the director now owns 48,304 shares in the company, valued at approximately $1,130,313.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Scott P. Ryan sold 7,220 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $23.66, for a total value of $170,825.20. Following the sale, the general counsel now owns 21,329 shares in the company, valued at approximately $504,644.14. The disclosure for this sale can be found here. Insiders have sold a total of 27,094 shares of company stock worth $635,877 in the last 90 days. 2.50% of the stock is currently owned by insiders.
Several research analysts have weighed in on GNTX shares. FBR & Co restated a “buy” rating and issued a $25.00 price target on shares of Gentex in a research note on Wednesday, October 18th. Zacks Investment Research upgraded Gentex from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Tuesday, October 17th. Longbow Research started coverage on Gentex in a research note on Friday, January 5th. They issued a “buy” rating and a $25.00 price target for the company. ValuEngine upgraded Gentex from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Finally, B. Riley restated a “buy” rating on shares of Gentex in a research note on Wednesday, November 1st. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $25.50.
Shares of Gentex Co. (GNTX) opened at $22.24 on Tuesday. The stock has a market capitalization of $6,294.13, a P/E ratio of 15.77, a PEG ratio of 1.42 and a beta of 1.31. Gentex Co. has a twelve month low of $16.59 and a twelve month high of $24.07.
Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, January 26th. The auto parts company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The business had revenue of $459.57 million for the quarter, compared to analysts’ expectations of $449.43 million. Gentex had a return on equity of 18.35% and a net margin of 22.66%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 EPS. analysts predict that Gentex Co. will post 1.62 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 17th. Investors of record on Friday, January 5th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $0.40 annualized dividend and a yield of 1.80%. Gentex’s payout ratio is presently 28.37%.
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Gentex Company Profile
Gentex Corporation designs and manufactures automatic-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. The Company’s business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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