Bank of America Corp DE lessened its stake in Gentex Co. (NASDAQ:GNTX - Free Report) by 33.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 451,430 shares of the auto parts company's stock after selling 223,895 shares during the quarter. Bank of America Corp DE owned about 0.20% of Gentex worth $12,970,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of GNTX. Barclays PLC boosted its position in shares of Gentex by 54.4% during the 3rd quarter. Barclays PLC now owns 107,930 shares of the auto parts company's stock worth $3,205,000 after acquiring an additional 38,027 shares in the last quarter. Atomi Financial Group Inc. acquired a new stake in shares of Gentex in the 4th quarter valued at $220,000. Inspire Investing LLC increased its stake in shares of Gentex by 36.9% in the 4th quarter. Inspire Investing LLC now owns 55,655 shares of the auto parts company's stock valued at $1,599,000 after purchasing an additional 14,989 shares during the last quarter. Tributary Capital Management LLC increased its stake in shares of Gentex by 28.7% in the 4th quarter. Tributary Capital Management LLC now owns 34,361 shares of the auto parts company's stock valued at $987,000 after purchasing an additional 7,660 shares during the last quarter. Finally, First Citizens Bank & Trust Co. lifted its position in shares of Gentex by 5.9% during the 4th quarter. First Citizens Bank & Trust Co. now owns 19,388 shares of the auto parts company's stock worth $557,000 after buying an additional 1,081 shares during the last quarter. Institutional investors own 86.76% of the company's stock.
Insider Activity
In related news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $22.87, for a total value of $86,082.68. Following the transaction, the director now owns 5,939 shares in the company, valued at $135,824.93. The trade was a 38.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.45% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. UBS Group decreased their target price on Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. The Goldman Sachs Group dropped their price objective on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Baird R W cut shares of Gentex from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price target on shares of Gentex from $34.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, February 3rd. Finally, B. Riley reissued a "buy" rating and set a $32.50 price objective (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $28.31.
Get Our Latest Analysis on Gentex
Gentex Trading Down 0.4%
NASDAQ:GNTX traded down $0.08 during trading hours on Wednesday, hitting $21.92. 154,012 shares of the company were exchanged, compared to its average volume of 1,804,981. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 0.84 and a beta of 0.85. Gentex Co. has a one year low of $20.28 and a one year high of $35.32. The company has a fifty day simple moving average of $22.22 and a 200 day simple moving average of $25.66.
Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. The company had revenue of $576.77 million during the quarter, compared to analysts' expectations of $578.68 million. Gentex had a return on equity of 16.74% and a net margin of 17.49%. The business's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share. Equities research analysts predict that Gentex Co. will post 2.04 earnings per share for the current fiscal year.
Gentex Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.19%. Gentex's dividend payout ratio (DPR) is currently 28.07%.
Gentex Profile
(
Free Report)
Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers 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, automotive suppliers, and various aftermarket and accessory customers.
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