Gentex (GNTX) Shares Gap Down to $22.77

Shares of Gentex Co. (NASDAQ:GNTX) gapped down prior to trading on Friday . The stock had previously closed at $23.68, but opened at $22.77. Gentex shares last traded at $23.19, with a volume of 77317 shares.

Several analysts have issued reports on GNTX shares. BMO Capital Markets lowered their target price on shares of Gentex from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 2nd. BidaskClub upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research note on Saturday, January 12th. Jefferies Financial Group reissued a “hold” rating and issued a $23.00 price target on shares of Gentex in a report on Monday, February 4th. ValuEngine lowered shares of Gentex from a “hold” rating to a “sell” rating in a report on Thursday, February 14th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Gentex in a report on Wednesday, January 30th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Gentex currently has an average rating of “Hold” and an average target price of $21.78.

The firm has a market cap of $5.85 billion, a P/E ratio of 14.34, a price-to-earnings-growth ratio of 2.27 and a beta of 1.11.

Gentex (NASDAQ:GNTX) last released its earnings results on Wednesday, April 24th. The auto parts company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. Gentex had a net margin of 23.88% and a return on equity of 23.06%. The company had revenue of $468.60 million for the quarter, compared to analyst estimates of $463.79 million. During the same quarter last year, the firm earned $0.40 EPS. The firm’s quarterly revenue was up .7% compared to the same quarter last year. Equities analysts forecast that Gentex Co. will post 1.62 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $0.46 annualized dividend and a dividend yield of 1.98%. This is a positive change from Gentex’s previous quarterly dividend of $0.11. Gentex’s dividend payout ratio (DPR) is currently 28.40%.

In other Gentex news, VP Matthew Chiodo sold 3,000 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $20.82, for a total value of $62,460.00. Following the sale, the vice president now owns 34,454 shares of the company’s stock, valued at approximately $717,332.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James H. Wallace sold 24,000 shares of the firm’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $21.40, for a total transaction of $513,600.00. Following the completion of the sale, the director now directly owns 29,400 shares in the company, valued at approximately $629,160. The disclosure for this sale can be found here. In the last three months, insiders acquired 2,009 shares of company stock worth $35,318 and sold 29,686 shares worth $631,983. 0.37% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the business. TrimTabs Asset Management LLC bought a new stake in Gentex in the 4th quarter worth $1,040,000. Rhumbline Advisers grew its holdings in Gentex by 31.5% in the 4th quarter. Rhumbline Advisers now owns 802,172 shares of the auto parts company’s stock worth $16,212,000 after acquiring an additional 192,037 shares during the last quarter. Cardinal Capital Management grew its holdings in Gentex by 3.0% in the 4th quarter. Cardinal Capital Management now owns 30,619 shares of the auto parts company’s stock worth $618,000 after acquiring an additional 901 shares during the last quarter. Morgan Stanley grew its holdings in Gentex by 14.0% in the 3rd quarter. Morgan Stanley now owns 1,050,613 shares of the auto parts company’s stock worth $22,547,000 after acquiring an additional 129,069 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in Gentex by 24.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 73,414 shares of the auto parts company’s stock worth $1,575,000 after acquiring an additional 14,599 shares during the last quarter. 85.50% of the stock is currently owned by institutional investors and hedge funds.

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Gentex Company Profile (NASDAQ:GNTX)

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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