Bahl & Gaynor Inc. boosted its position in Gentex Co. (NASDAQ:GNTX) by 3.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 522,272 shares of the auto parts company’s stock after buying an additional 17,620 shares during the period. Bahl & Gaynor Inc. owned approximately 0.18% of Gentex worth $11,140,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Burgundy Asset Management Ltd. boosted its position in Gentex by 4.0% in the fourth quarter. Burgundy Asset Management Ltd. now owns 11,796,265 shares of the auto parts company’s stock valued at $232,268,000 after buying an additional 452,614 shares in the last quarter. Scharf Investments LLC boosted its position in Gentex by 16.7% in the fourth quarter. Scharf Investments LLC now owns 7,143,804 shares of the auto parts company’s stock valued at $140,662,000 after buying an additional 1,024,752 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Gentex by 3.7% in the first quarter. Bank of New York Mellon Corp now owns 4,070,220 shares of the auto parts company’s stock valued at $86,817,000 after buying an additional 145,338 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Gentex by 8.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,734,680 shares of the auto parts company’s stock valued at $73,540,000 after buying an additional 286,623 shares in the last quarter. Finally, Norges Bank bought a new position in Gentex during the fourth quarter valued at about $65,250,000. Hedge funds and other institutional investors own 83.86% of the company’s stock.
Shares of Gentex Co. (NASDAQ:GNTX) traded up 0.70% during mid-day trading on Friday, reaching $18.83. 2,653,939 shares of the company’s stock traded hands. The company’s 50 day moving average is $20.19 and its 200-day moving average is $20.04. Gentex Co. has a 52 week low of $14.66 and a 52 week high of $22.12. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of 15.19 and a beta of 0.96.
Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, April 21st. The auto parts company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Gentex had a net margin of 20.70% and a return on equity of 19.05%. The firm had revenue of $453.54 million for the quarter, compared to analysts’ expectations of $444.92 million. During the same period last year, the firm earned $0.28 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities analysts expect that Gentex Co. will post $1.31 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 19th. Shareholders of record on Thursday, July 6th will be paid a $0.10 dividend. The ex-dividend date is Monday, July 3rd. This is a boost from Gentex’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 2.14%. Gentex’s dividend payout ratio (DPR) is presently 29.75%.
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Several research firms have issued reports on GNTX. Wellington Shields cut Gentex from a “gradually accumulate” rating to a “hold” rating in a report on Thursday, May 4th. Zacks Investment Research raised Gentex from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Wednesday, April 26th. BMO Capital Markets reaffirmed a “positive” rating and issued a $25.00 price target on shares of Gentex in a report on Friday, March 24th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and issued a $21.50 price target on shares of Gentex in a report on Tuesday, January 31st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Gentex presently has a consensus rating of “Buy” and an average price target of $23.10.
In other Gentex news, Director John A. Mulder sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $21.28, for a total value of $212,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frederick A. Sotok sold 19,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $20.84, for a total transaction of $395,960.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,610 shares of company stock worth $947,029. Insiders own 2.90% of the company’s stock.
Gentex Corporation designs and manufactures automatic-dimming rearview mirrors and electronics for the automotive industry, dimmable aircraft windows for the aviation industry, and commercial smoke alarms and signaling devices for the fire protection industry. The Company’s business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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