Sciencast Management LP boosted its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 39.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,306 shares of the auto parts company’s stock after acquiring an additional 6,006 shares during the quarter. Sciencast Management LP’s holdings in Gentex were worth $539,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Smithfield Trust Co. lifted its position in shares of Gentex by 174.7% during the 1st quarter. Smithfield Trust Co. now owns 1,305 shares of the auto parts company’s stock valued at $29,000 after acquiring an additional 830 shares during the period. Tompkins Financial Corp acquired a new position in shares of Gentex during the 1st quarter valued at $29,000. GQ Asset Management LLC acquired a new position in shares of Gentex during the 1st quarter valued at $32,000. Private Capital Group LLC lifted its position in shares of Gentex by 2,267.6% during the 1st quarter. Private Capital Group LLC now owns 1,681 shares of the auto parts company’s stock valued at $37,000 after acquiring an additional 1,610 shares during the period. Finally, Ballast Advisors LLC acquired a new position in shares of Gentex during the 1st quarter valued at $38,000. 82.13% of the stock is currently owned by hedge funds and other institutional investors.
Shares of GNTX opened at $26.99 on Friday. The firm’s 50 day simple moving average is $26.13 and its 200 day simple moving average is $26.27. The company has a market capitalization of $6.61 billion, a P/E ratio of 22.31 and a beta of 1.14. Gentex Co. has a 1-year low of $19.48 and a 1-year high of $31.27.
Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, July 24th. The auto parts company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.10). The company had revenue of $229.93 million during the quarter, compared to analysts’ expectations of $266.36 million. Gentex had a net margin of 18.60% and a return on equity of 16.26%. The company’s revenue for the quarter was down 50.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 earnings per share. As a group, research analysts anticipate that Gentex Co. will post 1.2 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Friday, July 10th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Thursday, July 9th. Gentex’s payout ratio is currently 28.92%.
A number of research firms recently issued reports on GNTX. Cfra dropped their target price on shares of Gentex from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Robert W. Baird upgraded shares of Gentex from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $27.00 to $32.00 in a report on Monday, June 1st. Jefferies Financial Group upped their price objective on shares of Gentex from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Goldman Sachs Group began coverage on shares of Gentex in a report on Tuesday, April 14th. They issued a “sell” rating and a $19.00 target price for the company. Finally, Zacks Investment Research downgraded shares of Gentex from a “hold” rating to a “sell” rating and set a $26.00 target price for the company. in a report on Tuesday, April 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Gentex has a consensus rating of “Hold” and an average price target of $28.75.
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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