Greenleaf Trust cut its stake in Gentex Corporation (NASDAQ:GNTX - Free Report) by 67.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,332 shares of the auto parts company's stock after selling 38,587 shares during the quarter. Greenleaf Trust's holdings in Gentex were worth $427,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Values First Advisors Inc. grew its position in shares of Gentex by 1.3% during the 1st quarter. Values First Advisors Inc. now owns 51,873 shares of the auto parts company's stock valued at $1,209,000 after acquiring an additional 676 shares during the period. Penserra Capital Management LLC purchased a new position in Gentex during the first quarter worth approximately $303,000. Lightrock Netherlands B.V. grew its holdings in Gentex by 49.9% in the first quarter. Lightrock Netherlands B.V. now owns 490,384 shares of the auto parts company's stock valued at $11,445,000 after purchasing an additional 163,341 shares during the period. Principal Financial Group Inc. increased its position in shares of Gentex by 0.4% in the first quarter. Principal Financial Group Inc. now owns 523,489 shares of the auto parts company's stock valued at $12,197,000 after buying an additional 1,923 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Gentex by 7.6% in the first quarter. Teacher Retirement System of Texas now owns 225,180 shares of the auto parts company's stock valued at $5,247,000 after buying an additional 15,938 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company's stock.
Insider Buying and Selling
In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the company's stock in a transaction that occurred 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 directly owned 5,939 shares in the company, valued at approximately $135,824.93. This represents a 38.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.45% of the stock is owned by insiders.
Gentex Price Performance
GNTX traded up $0.55 on Wednesday, reaching $23.21. 3,852,268 shares of the company's stock were exchanged, compared to its average volume of 2,267,658. The stock has a market cap of $5.22 billion, a PE ratio of 13.57, a P/E/G ratio of 1.14 and a beta of 0.81. Gentex Corporation has a twelve month low of $20.28 and a twelve month high of $35.23. The stock's fifty day moving average price is $22.18 and its 200-day moving average price is $23.72.
Gentex (NASDAQ:GNTX - Get Free Report) last issued its earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.43. The business had revenue of $576.77 million during the quarter, compared to the consensus estimate of $578.68 million. Gentex had a return on equity of 16.11% and a net margin of 17.01%. The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the company earned $0.47 EPS. As a group, research analysts predict that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.
Gentex Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be given a $0.12 dividend. The ex-dividend date is Wednesday, July 9th. This represents a $0.48 dividend on an annualized basis and a yield of 2.07%. Gentex's dividend payout ratio is currently 28.07%.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. The Goldman Sachs Group reiterated a "neutral" rating on shares of Gentex in a research report on Friday, July 11th. Robert W. Baird increased their price objective on shares of Gentex from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Industrial Alliance Securities set a $25.00 target price on shares of Gentex in a research note on Friday, July 11th. UBS Group reaffirmed a "neutral" rating and issued a $23.00 price target (up from $21.00) on shares of Gentex in a research note on Monday. Finally, Baird R W lowered Gentex from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Gentex presently has a consensus rating of "Hold" and an average target price of $28.28.
Check Out Our Latest Report on Gentex
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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