First Quadrant L P CA lessened its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 0.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 214,417 shares of the auto parts company’s stock after selling 891 shares during the quarter. First Quadrant L P CA owned about 0.08% of Gentex worth $5,277,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. Creative Financial Designs Inc. ADV acquired a new stake in shares of Gentex during the first quarter worth about $27,000. Bremer Bank National Association purchased a new stake in shares of Gentex during the first quarter worth approximately $29,000. Icon Wealth Partners LLC purchased a new stake in shares of Gentex during the first quarter worth approximately $31,000. Carroll Financial Associates Inc. increased its stake in shares of Gentex by 159.1% during the second quarter. Carroll Financial Associates Inc. now owns 1,285 shares of the auto parts company’s stock worth $31,000 after buying an additional 789 shares during the period. Finally, Cornerstone Advisors Inc. purchased a new stake in shares of Gentex during the first quarter worth approximately $49,000. 82.74% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Gentex from a “sell” rating to a “hold” rating and set a $28.00 target price on the stock in a research note on Tuesday, July 23rd. ValuEngine lowered shares of Gentex from a “buy” rating to a “hold” rating in a research note on Thursday. BidaskClub upgraded shares of Gentex from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. B. Riley set a $29.00 target price on shares of Gentex and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Longbow Research restated a “hold” rating on shares of Gentex in a research note on Sunday, July 7th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $23.66.
Shares of GNTX stock traded up $0.15 during trading hours on Friday, reaching $27.04. 1,416,033 shares of the stock were exchanged, compared to its average volume of 2,014,768. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 3.20 and a beta of 1.22. Gentex Co. has a 12-month low of $17.80 and a 12-month high of $27.94. The stock has a fifty day moving average price of $24.87.
Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, July 19th. The auto parts company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The company had revenue of $468.71 million for the quarter, compared to analyst estimates of $462.65 million. Gentex had a net margin of 23.28% and a return on equity of 23.08%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 earnings per share. Equities analysts predict that Gentex Co. will post 1.68 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th were paid a $0.115 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $0.46 annualized dividend and a yield of 1.70%. Gentex’s dividend payout ratio is currently 28.40%.
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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