LaFleur & Godfrey LLC Has $6.19 Million Stake in Gentex Co. (GNTX)

LaFleur & Godfrey LLC cut its position in Gentex Co. (NASDAQ:GNTX) by 4.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 299,535 shares of the auto parts company’s stock after selling 14,500 shares during the quarter. Gentex accounts for about 1.6% of LaFleur & Godfrey LLC’s portfolio, making the stock its 26th largest holding. LaFleur & Godfrey LLC owned about 0.12% of Gentex worth $6,194,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GNTX. Norges Bank acquired a new position in Gentex during the 4th quarter worth approximately $61,373,000. Oregon Public Employees Retirement Fund increased its position in Gentex by 1,889.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,153,052 shares of the auto parts company’s stock worth $107,000 after purchasing an additional 2,044,853 shares in the last quarter. Claybrook Capital LLC acquired a new position in Gentex during the 4th quarter worth approximately $20,588,000. Bank of New York Mellon Corp increased its position in Gentex by 24.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,966,771 shares of the auto parts company’s stock worth $106,585,000 after purchasing an additional 976,219 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Gentex during the 4th quarter worth approximately $19,692,000. Institutional investors own 85.58% of the company’s stock.

NASDAQ:GNTX opened at $22.60 on Friday. Gentex Co. has a 52 week low of $17.80 and a 52 week high of $25.41. The firm has a market capitalization of $5.78 billion, a PE ratio of 13.95, a PEG ratio of 2.37 and a beta of 1.14.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Wednesday, April 24th. The auto parts company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. Gentex had a net margin of 23.45% and a return on equity of 23.03%. The company had revenue of $468.60 million for the quarter, compared to analyst estimates of $463.79 million. During the same period in the prior year, the firm posted $0.40 EPS. The company’s quarterly revenue was up .7% on a year-over-year basis. On average, sell-side analysts anticipate that Gentex Co. will post 1.64 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th were paid a $0.115 dividend. This is a positive change from Gentex’s previous quarterly dividend of $0.11. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Tuesday, April 9th. Gentex’s dividend payout ratio is currently 28.40%.

In related news, VP Matthew Chiodo sold 3,000 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $20.82, for a total transaction of $62,460.00. Following the transaction, the vice president now directly owns 34,454 shares of the company’s stock, valued at $717,332.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gary F. Goode sold 5,045 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $23.20, for a total transaction of $117,044.00. Following the transaction, the director now directly owns 21,045 shares in the company, valued at $488,244. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 2,009 shares of company stock worth $35,318 and sold 10,731 shares worth $235,427. Corporate insiders own 0.37% of the company’s stock.

A number of research firms recently issued reports on GNTX. BidaskClub upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Zacks Investment Research upgraded shares of Gentex from a “sell” rating to a “hold” rating in a research report on Tuesday, April 2nd. BMO Capital Markets lowered their price objective on shares of Gentex from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, April 2nd. ValuEngine upgraded shares of Gentex from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Longbow Research cut shares of Gentex from a “buy” rating to a “neutral” rating and set a $20.65 price target for the company. in a research report on Tuesday, February 5th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Gentex presently has an average rating of “Hold” and a consensus target price of $21.78.

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About Gentex

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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