Whittier Trust Co. boosted its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,180 shares of the auto parts company’s stock after acquiring an additional 3,472 shares during the period. Whittier Trust Co.’s holdings in Gentex were worth $2,170,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in GNTX. Boston Partners acquired a new position in Gentex during the first quarter worth about $76,910,000. Norges Bank acquired a new position in shares of Gentex in the fourth quarter valued at approximately $61,373,000. AJO LP raised its position in shares of Gentex by 211.8% in the first quarter. AJO LP now owns 826,995 shares of the auto parts company’s stock valued at $17,102,000 after buying an additional 561,747 shares during the last quarter. Maj Invest Holding A S raised its position in shares of Gentex by 10.5% in the first quarter. Maj Invest Holding A S now owns 4,206,037 shares of the auto parts company’s stock valued at $86,980,000 after buying an additional 400,743 shares during the last quarter. Finally, Thoroughbred Financial Services LLC raised its position in shares of Gentex by 2,268.2% in the second quarter. Thoroughbred Financial Services LLC now owns 388,887 shares of the auto parts company’s stock valued at $38,889,000 after buying an additional 372,466 shares during the last quarter. Institutional investors own 82.74% of the company’s stock.
Gentex stock traded up $0.15 during trading on Friday, reaching $27.04. The company had a trading volume of 1,416,033 shares, compared to its average volume of 2,014,768. Gentex Co. has a 12-month low of $17.80 and a 12-month high of $27.94. The business’s 50 day moving average price is $24.87. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 16.69, a price-to-earnings-growth ratio of 3.20 and a beta of 1.22.
Gentex (NASDAQ:GNTX) last released its earnings results on Friday, July 19th. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Gentex had a net margin of 23.28% and a return on equity of 23.08%. The firm had revenue of $468.71 million during the quarter, compared to the consensus estimate of $462.65 million. During the same period in the previous year, the firm earned $0.40 earnings per share. Gentex’s revenue was up 3.0% compared to the same quarter last year. Sell-side analysts expect that Gentex Co. will post 1.68 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.115 per share. The ex-dividend date was Tuesday, July 9th. This represents a $0.46 annualized dividend and a yield of 1.70%. Gentex’s dividend payout ratio is currently 28.40%.
In other Gentex news, Director James A. Hollars sold 14,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $25.32, for a total transaction of $354,480.00. Following the completion of the sale, the director now directly owns 51,707 shares in the company, valued at $1,309,221.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Neil Boehm sold 5,640 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $25.32, for a total transaction of $142,804.80. Following the sale, the chief technology officer now owns 39,520 shares of the company’s stock, valued at $1,000,646.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,394 shares of company stock valued at $937,122. 0.37% of the stock is owned by insiders.
A number of research firms have recently weighed in on GNTX. Longbow Research reissued a “hold” rating on shares of Gentex in a research report on Sunday, July 7th. B. Riley set a $29.00 price objective on shares of Gentex and gave the company a “buy” rating in a research report on Friday, July 19th. Zacks Investment Research raised shares of Gentex from a “sell” rating to a “hold” rating and set a $28.00 price objective for the company in a research report on Tuesday, July 23rd. BidaskClub raised shares of Gentex from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, ValuEngine lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Thursday. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $23.66.
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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