Tiedemann Wealth Management LLC bought a new position in shares of Gentex Co. (NASDAQ:GNTX) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 13,603 shares of the auto parts company’s stock, valued at approximately $290,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of GNTX. Northern Trust Corp boosted its position in shares of Gentex by 0.7% in the third quarter. Northern Trust Corp now owns 3,137,997 shares of the auto parts company’s stock worth $55,103,000 after buying an additional 23,050 shares during the last quarter. Bahl & Gaynor Inc. boosted its position in shares of Gentex by 2.0% in the third quarter. Bahl & Gaynor Inc. now owns 490,687 shares of the auto parts company’s stock worth $8,617,000 after buying an additional 9,610 shares during the last quarter. Rikoon Group LLC purchased a new position in shares of Gentex during the third quarter worth $899,000. JPMorgan Chase & Co. boosted its position in shares of Gentex by 27.8% in the third quarter. JPMorgan Chase & Co. now owns 52,734 shares of the auto parts company’s stock worth $926,000 after buying an additional 11,458 shares during the last quarter. Finally, Goelzer Investment Management Inc. boosted its position in shares of Gentex by 0.3% in the third quarter. Goelzer Investment Management Inc. now owns 247,686 shares of the auto parts company’s stock worth $4,349,000 after buying an additional 835 shares during the last quarter. Hedge funds and other institutional investors own 83.86% of the company’s stock.
Gentex Co. (NASDAQ:GNTX) traded up 0.70% on Friday, reaching $18.83. The company’s stock had a trading volume of 2,653,939 shares. Gentex Co. has a 1-year low of $14.66 and a 1-year high of $22.12. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 15.19 and a beta of 0.96. The stock has a 50 day moving average price of $20.19 and a 200-day moving average price of $20.04.
Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, April 21st. The auto parts company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. The firm had revenue of $453.54 million during the quarter, compared to analysts’ expectations of $444.92 million. Gentex had a net margin of 20.70% and a return on equity of 19.05%. Gentex’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 earnings per share. Equities analysts predict 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. Investors of record on Thursday, July 6th will be issued a $0.10 dividend. The ex-dividend date of this dividend 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 is currently 29.75%.
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A number of brokerages recently weighed in on GNTX. Wellington Shields cut Gentex from a “buy” rating to an “accumulate” rating in a report on Friday, January 27th. Zacks Investment Research raised Gentex from a “sell” rating to a “hold” rating in a research report on Thursday, January 26th. BMO Capital Markets reissued a “positive” rating and issued a $25.00 price objective on shares of Gentex in a research report on Friday, March 24th. Finally, Wells Fargo & Co reissued an “outperform” rating and issued a $21.50 price objective on shares of Gentex in a research report on Tuesday, January 31st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Gentex presently has a consensus rating of “Buy” and an average target price of $23.10.
In related news, Director Frederick A. Sotok sold 19,000 shares of the company’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $20.84, for a total value of $395,960.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kevin C. Nash sold 1,694 shares of the company’s stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $20.65, for a total transaction of $34,981.10. Following the completion of the sale, the insider now owns 36,746 shares of the company’s stock, valued at $758,804.90. The disclosure for this sale can be found here. Insiders sold 45,610 shares of company stock valued at $947,029 over the last quarter. 2.90% of the stock is currently owned by corporate insiders.
Gentex Company Profile
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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