Gentex (GNTX) Releases Earnings Results, Meets Expectations

Gentex (NASDAQ:GNTX) posted its quarterly earnings data on Friday. The auto parts company reported $0.40 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40, Bloomberg Earnings reports. Gentex had a net margin of 22.66% and a return on equity of 18.35%. The business had revenue of $465.42 million during the quarter, compared to analysts’ expectations of $478.06 million. During the same quarter in the prior year, the business posted $0.33 earnings per share. Gentex’s revenue was up 2.6% compared to the same quarter last year.

Shares of GNTX stock traded down $1.67 on Friday, reaching $21.99. The company had a trading volume of 4,506,452 shares, compared to its average volume of 1,789,792. The stock has a market capitalization of $6,016.66, a P/E ratio of 17.18, a price-to-earnings-growth ratio of 1.38 and a beta of 1.27. Gentex has a one year low of $16.59 and a one year high of $24.60.

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 18th. Stockholders of record on Friday, April 6th were issued a $0.11 dividend. The ex-dividend date of this dividend was Thursday, April 5th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.00%. This is a boost from Gentex’s previous quarterly dividend of $0.10. Gentex’s dividend payout ratio is 34.38%.

Several equities research analysts recently weighed in on the stock. B. Riley reaffirmed a “buy” rating and set a $29.00 price objective (up previously from $25.00) on shares of Gentex in a research report on Wednesday, January 24th. Robert W. Baird cut shares of Gentex from an “outperform” rating to a “neutral” rating in a research report on Tuesday, January 23rd. Susquehanna Bancshares set a $24.00 price objective on shares of Gentex and gave the stock a “hold” rating in a research report on Wednesday, March 14th. BidaskClub cut shares of Gentex from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Zacks Investment Research raised shares of Gentex from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $25.33.

In other news, Chairman Fred Bauer sold 946,200 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $23.33, for a total value of $22,074,846.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Scott P. Ryan sold 7,220 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $23.66, for a total transaction of $170,825.20. Following the completion of the transaction, the general counsel now directly owns 21,329 shares of the company’s stock, valued at approximately $504,644.14. The disclosure for this sale can be found here. Insiders sold 974,354 shares of company stock valued at $22,734,583 in the last three months. Company insiders own 0.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Fairfield Bush & CO. lifted its holdings in shares of Gentex by 9.3% in the fourth quarter. Fairfield Bush & CO. now owns 51,850 shares of the auto parts company’s stock worth $1,086,000 after acquiring an additional 4,425 shares during the last quarter. Xact Kapitalforvaltning AB acquired a new position in shares of Gentex in the fourth quarter valued at approximately $552,000. We Are One Seven LLC acquired a new position in shares of Gentex in the fourth quarter valued at approximately $911,000. Disciplined Growth Investors Inc. MN increased its stake in shares of Gentex by 1.0% in the fourth quarter. Disciplined Growth Investors Inc. MN now owns 4,344,421 shares of the auto parts company’s stock valued at $91,016,000 after buying an additional 44,383 shares during the period. Finally, Sterling Capital Management LLC increased its stake in shares of Gentex by 7.7% in the fourth quarter. Sterling Capital Management LLC now owns 5,076,685 shares of the auto parts company’s stock valued at $106,357,000 after buying an additional 363,114 shares during the period. 84.40% of the stock is owned by hedge funds and other institutional investors.

Gentex declared that its board has approved a share repurchase program on Friday, March 9th that authorizes the company to repurchase 20,000,000 shares. This repurchase authorization authorizes the auto parts company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

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Gentex Company Profile

Gentex Corporation provides automatic-dimming and non-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 worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features 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.

Earnings History for Gentex (NASDAQ:GNTX)

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