Prudential Financial Inc. grew its stake in Gentex Co. (NASDAQ:GNTX) by 4.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 172,930 shares of the auto parts company’s stock after buying an additional 7,780 shares during the period. Prudential Financial Inc.’s holdings in Gentex were worth $4,256,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Commonwealth Equity Services LLC increased its stake in shares of Gentex by 4.0% in the second quarter. Commonwealth Equity Services LLC now owns 35,250 shares of the auto parts company’s stock valued at $867,000 after buying an additional 1,367 shares during the period. Country Trust Bank grew its stake in Gentex by 1.9% during the second quarter. Country Trust Bank now owns 1,026,687 shares of the auto parts company’s stock worth $25,267,000 after purchasing an additional 18,937 shares during the period. Fort L.P. grew its stake in Gentex by 38.9% during 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 during the period. State of Alaska Department of Revenue grew its stake in Gentex by 86.3% during the second quarter. State of Alaska Department of Revenue now owns 55,685 shares of the auto parts company’s stock worth $1,369,000 after purchasing an additional 25,793 shares during the period. Finally, Great West Life Assurance Co. Can grew its stake in Gentex by 17.8% during the first quarter. Great West Life Assurance Co. Can now owns 257,040 shares of the auto parts company’s stock worth $5,307,000 after purchasing an additional 38,765 shares during the period. 80.99% of the stock is owned by institutional investors.
In other Gentex news, VP Matthew Chiodo sold 5,560 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $27.07, for a total value of $150,509.20. Following the completion of the sale, the vice president now owns 30,776 shares of the company’s stock, valued at $833,106.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary F. Goode sold 2,586 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $27.60, for a total value of $71,373.60. Following the completion of the transaction, the director now owns 22,989 shares in the company, valued at approximately $634,496.40. The disclosure for this sale can be found here. Insiders sold 37,543 shares of company stock valued at $952,059 in the last three months. Insiders own 0.37% of the company’s stock.
NASDAQ GNTX remained flat at $$28.06 during trading hours on Friday. The company had a trading volume of 1,357,326 shares, compared to its average volume of 1,516,573. The firm has a fifty day moving average of $26.91 and a 200-day moving average of $23.55. Gentex Co. has a fifty-two week low of $17.80 and a fifty-two week high of $28.43. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 3.33 and a beta of 1.24.
Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, July 19th. The auto parts company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. Gentex had a return on equity of 23.08% and a net margin of 23.28%. The firm had revenue of $468.71 million during the quarter, compared to analysts’ expectations of $462.65 million. During the same quarter last year, the firm posted $0.40 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts expect that Gentex Co. will post 1.68 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $0.46 dividend on an annualized basis and a yield of 1.64%. Gentex’s dividend payout ratio (DPR) is presently 28.40%.
Several equities research analysts recently commented on the company. ValuEngine cut Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Longbow Research reaffirmed a “hold” rating on shares of Gentex in a research note on Sunday, July 7th. Zacks Investment Research raised Gentex from a “sell” rating to a “hold” rating and set a $28.00 target price for the company in a research note on Tuesday, July 23rd. BidaskClub raised Gentex from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, B. Riley set a $29.00 target price on Gentex and gave the stock a “buy” rating in a research note on Friday, July 19th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $23.66.
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.
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