Highland Capital Management LLC reduced its stake in shares of Gentex Co. (NASDAQ:GNTX) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 95,435 shares of the auto parts company’s stock after selling 1,285 shares during the quarter. Highland Capital Management LLC’s holdings in Gentex were worth $1,974,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. TrimTabs Asset Management LLC acquired a new position in Gentex during the 4th quarter worth about $1,040,000. Rhumbline Advisers raised its holdings in Gentex by 31.5% during the 4th quarter. Rhumbline Advisers now owns 802,172 shares of the auto parts company’s stock worth $16,212,000 after purchasing an additional 192,037 shares during the last quarter. Morgan Stanley raised its holdings in Gentex by 14.0% during the 3rd quarter. Morgan Stanley now owns 1,050,613 shares of the auto parts company’s stock worth $22,547,000 after purchasing an additional 129,069 shares during the last quarter. Cardinal Capital Management raised its holdings in Gentex by 3.0% during the 4th quarter. Cardinal Capital Management now owns 30,619 shares of the auto parts company’s stock worth $618,000 after purchasing an additional 901 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Gentex by 24.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 73,414 shares of the auto parts company’s stock worth $1,575,000 after purchasing an additional 14,599 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.
GNTX has been the subject of several recent research reports. BidaskClub raised Gentex from a “hold” rating to a “buy” rating in a report on Saturday, January 12th. Zacks Investment Research raised Gentex from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. Wells Fargo & Co reiterated a “buy” rating on shares of Gentex in a research report on Wednesday, January 30th. Jefferies Financial Group reiterated a “hold” rating and issued a $23.00 price objective on shares of Gentex in a research report on Monday, February 4th. Finally, Longbow Research lowered Gentex from a “buy” rating to a “neutral” rating and set a $20.65 price objective for the company. in a research report on Tuesday, February 5th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $21.78.
Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Wednesday, April 24th. The auto parts company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Gentex had a return on equity of 23.03% and a net margin of 23.45%. The business had revenue of $468.60 million for the quarter, compared to analysts’ expectations of $463.79 million. During the same quarter in the prior year, the business earned $0.40 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities analysts predict that Gentex Co. will post 1.64 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th were given a dividend of $0.115 per share. This is a boost from Gentex’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $0.46 annualized dividend and a yield of 2.03%. Gentex’s dividend payout ratio (DPR) is presently 28.40%.
In related news, VP Matthew Chiodo sold 3,000 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $20.82, for a total value of $62,460.00. Following the transaction, the vice president now owns 34,454 shares in the company, valued at $717,332.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary F. Goode sold 5,045 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $23.20, for a total value of $117,044.00. Following the completion of the transaction, the director now owns 21,045 shares in the company, valued at approximately $488,244. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 2,009 shares of company stock worth $35,318 and have sold 10,731 shares worth $235,427. 0.37% of the stock is owned by company insiders.
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Gentex Company Profile
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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