ValuEngine cut shares of Gentex (NASDAQ:GNTX) from a buy rating to a hold rating in a report released on Thursday, ValuEngine reports.
Other equities analysts have also recently issued research reports about the stock. BidaskClub raised shares of Gentex from a sell rating to a hold rating in a research report on Tuesday, July 30th. Longbow Research reissued a hold rating on shares of Gentex in a research report on Sunday, July 7th. Zacks Investment Research raised shares of Gentex from a sell rating to a hold rating and set a $28.00 price target for the company in a research report on Tuesday, July 23rd. Finally, B. Riley set a $29.00 price target on shares of Gentex and gave the company a buy rating in a research report on Friday, July 19th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $23.66.
Shares of NASDAQ:GNTX traded down $0.40 during mid-day trading on Thursday, reaching $26.64. 94,744 shares of the company were exchanged, compared to its average volume of 2,014,768. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 3.22 and a beta of 1.22. The company has a 50-day moving average price of $24.87. Gentex has a 1 year low of $17.80 and a 1 year high of $27.94.
Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, July 19th. The auto parts company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.02. The firm had revenue of $468.71 million during the quarter, compared to analysts’ expectations of $462.65 million. Gentex had a net margin of 23.28% and a return on equity of 23.08%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $0.40 EPS. As a group, equities research analysts expect that Gentex will post 1.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th were given a $0.115 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $0.46 annualized dividend and a yield of 1.73%. Gentex’s dividend payout ratio is presently 28.40%.
In other news, Director James A. Hollars sold 14,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $25.32, for a total value of $354,480.00. Following the sale, the director now directly owns 51,707 shares in the company, valued at approximately $1,309,221.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $25.32, for a total transaction of $142,804.80. Following the completion of the sale, the chief technology officer now owns 39,520 shares in the company, valued at $1,000,646.40. The disclosure for this sale can be found here. Insiders sold a total of 36,394 shares of company stock valued at $937,122 in the last three months. 0.37% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in Gentex by 4.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,119,321 shares of the auto parts company’s stock valued at $123,669,000 after buying an additional 283,696 shares in the last quarter. MML Investors Services LLC bought a new position in shares of Gentex during the 4th quarter valued at about $227,000. Amundi Pioneer Asset Management Inc. boosted its position in shares of Gentex by 35.6% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 146,684 shares of the auto parts company’s stock valued at $2,965,000 after purchasing an additional 38,491 shares in the last quarter. Norges Bank bought a new position in shares of Gentex during the 4th quarter valued at about $61,373,000. Finally, Geode Capital Management LLC boosted its position in shares of Gentex by 8.3% during the 4th quarter. Geode Capital Management LLC now owns 3,950,871 shares of the auto parts company’s stock valued at $79,846,000 after purchasing an additional 303,378 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.
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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