Motley Fool Wealth Management LLC cut its holdings in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 7.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 274,663 shares of the auto parts company's stock after selling 23,013 shares during the quarter. Motley Fool Wealth Management LLC owned approximately 0.12% of Gentex worth $6,400,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of GNTX. Larson Financial Group LLC increased its holdings in Gentex by 1,471.0% during the 1st quarter. Larson Financial Group LLC now owns 1,084 shares of the auto parts company's stock worth $25,000 after purchasing an additional 1,015 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Gentex by 85.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,222 shares of the auto parts company's stock worth $28,000 after purchasing an additional 563 shares during the last quarter. Harbor Investment Advisory LLC increased its holdings in Gentex by 208.2% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company's stock worth $38,000 after purchasing an additional 1,093 shares during the last quarter. UMB Bank n.a. increased its holdings in Gentex by 103.3% during the 1st quarter. UMB Bank n.a. now owns 2,124 shares of the auto parts company's stock worth $49,000 after purchasing an additional 1,079 shares during the last quarter. Finally, NBC Securities Inc. increased its holdings in shares of Gentex by 268,600.0% in the 1st quarter. NBC Securities Inc. now owns 2,687 shares of the auto parts company's stock valued at $62,000 after acquiring an additional 2,686 shares during the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.
Gentex Price Performance
Shares of GNTX opened at $26.62 on Monday. The company has a market cap of $5.98 billion, a P/E ratio of 15.04 and a beta of 0.82. The stock has a fifty day moving average price of $23.33 and a 200 day moving average price of $23.40. Gentex Corporation has a 12 month low of $20.28 and a 12 month high of $31.75.
Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The auto parts company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.08. The firm had revenue of $657.86 million during the quarter, compared to the consensus estimate of $591.94 million. Gentex had a return on equity of 16.86% and a net margin of 16.82%. The firm's revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 EPS. As a group, research analysts anticipate that Gentex Corporation will post 2.04 earnings per share for the current year.
Gentex declared that its Board of Directors has initiated a share buyback program on Wednesday, July 16th that allows the company to buyback 40,000,000 shares. This buyback authorization allows the auto parts company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is undervalued.
Gentex Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Wednesday, July 9th. Gentex's dividend payout ratio is presently 27.12%.
Insider Buying and Selling
In other Gentex news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $22.87, for a total transaction of $86,082.68. Following the completion of the transaction, the director owned 5,939 shares in the company, valued at approximately $135,824.93. The trade was a 38.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.45% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. Baird R W lowered Gentex from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Guggenheim dropped their price target on Gentex from $30.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen raised Gentex from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Robert W. Baird upped their price target on Gentex from $26.00 to $30.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Finally, B. Riley upped their price target on Gentex from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $28.63.
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About Gentex
(
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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