Dimensional Fund Advisors LP increased its holdings in Gentex Co. (NASDAQ:GNTX) by 8.7% during the third quarter, Holdings Channel reports. The fund owned 5,835,625 shares of the auto parts company’s stock after acquiring an additional 467,548 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Gentex were worth $125,230,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Gentex by 1.1% in the 2nd quarter. BlackRock Inc. now owns 24,291,053 shares of the auto parts company’s stock worth $559,180,000 after acquiring an additional 258,850 shares during the last quarter. FMR LLC raised its holdings in shares of Gentex by 22.6% in the 2nd quarter. FMR LLC now owns 10,889,141 shares of the auto parts company’s stock worth $250,668,000 after acquiring an additional 2,008,953 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Gentex by 24.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,966,771 shares of the auto parts company’s stock worth $106,585,000 after acquiring an additional 976,219 shares during the last quarter. Schroder Investment Management Group increased its stake in Gentex by 19.0% in the 3rd quarter. Schroder Investment Management Group now owns 3,611,322 shares of the auto parts company’s stock valued at $77,499,000 after buying an additional 576,800 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Gentex by 42.2% in the 2nd quarter. Wells Fargo & Company MN now owns 2,712,561 shares of the auto parts company’s stock valued at $62,442,000 after buying an additional 804,911 shares during the last quarter. Institutional investors own 85.83% of the company’s stock.
NASDAQ:GNTX opened at $21.66 on Friday. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.19 and a beta of 1.14. Gentex Co. has a 52 week low of $17.80 and a 52 week high of $25.41.
Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, October 19th. The auto parts company reported $0.42 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. The firm had revenue of $460.25 million during the quarter, compared to analyst estimates of $465.51 million. Gentex had a net margin of 25.11% and a return on equity of 21.83%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. As a group, equities research analysts forecast that Gentex Co. will post 1.65 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 23rd. Stockholders of record on Wednesday, January 9th will be paid a dividend of $0.11 per share. The ex-dividend date is Tuesday, January 8th. This represents a $0.44 annualized dividend and a dividend yield of 2.03%. Gentex’s payout ratio is currently 34.38%.
In other news, CFO Kevin C. Nash sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $21.50, for a total transaction of $129,000.00. Following the completion of the sale, the chief financial officer now owns 32,732 shares in the company, valued at approximately $703,738. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders have bought 1,155 shares of company stock valued at $23,237. 0.60% of the stock is currently owned by company insiders.
Several equities research analysts have commented on the stock. BidaskClub upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. Longbow Research set a $28.00 price objective on shares of Gentex and gave the company a “buy” rating in a research note on Friday, August 24th. Jefferies Financial Group assumed coverage on shares of Gentex in a research note on Tuesday. They issued a “hold” rating and a $24.00 price objective for the company. Wells Fargo & Co reiterated a “buy” rating on shares of Gentex in a research note on Wednesday, November 14th. Finally, Zacks Investment Research lowered shares of Gentex from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $24.44.
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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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