Tocqueville Asset Management L.P. reduced its position in Gentex Co. (NASDAQ:GNTX) by 73.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,330 shares of the auto parts company’s stock after selling 148,650 shares during the period. Tocqueville Asset Management L.P.’s holdings in Gentex were worth $1,337,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of GNTX. Creative Financial Designs Inc. ADV acquired a new stake in shares of Gentex in the 1st quarter valued at about $27,000. Bremer Bank National Association acquired a new stake in shares of Gentex in the 1st quarter valued at about $29,000. Icon Wealth Partners LLC acquired a new stake in shares of Gentex in the 1st quarter valued at about $31,000. Carroll Financial Associates Inc. raised its stake in shares of Gentex by 159.1% in the 2nd quarter. Carroll Financial Associates Inc. now owns 1,285 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 789 shares in the last quarter. Finally, Cornerstone Advisors Inc. acquired a new stake in shares of Gentex in the 1st quarter valued at about $49,000. 83.31% of the stock is owned by institutional investors.
A number of equities research analysts have recently issued reports on the stock. ValuEngine lowered shares of Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. BidaskClub upgraded shares of Gentex from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. 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. Longbow Research restated a “hold” rating on shares of Gentex in a research note on Sunday, July 7th. Finally, B. Riley set a $29.00 target price on shares of Gentex and gave the company a “buy” rating in a research note on Friday, July 19th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Gentex has a consensus rating of “Hold” and an average target price of $23.66.
GNTX opened at $26.28 on Thursday. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 3.21 and a beta of 1.22. Gentex Co. has a fifty-two week low of $17.80 and a fifty-two week high of $27.94. The stock’s 50-day simple moving average is $25.66.
Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, July 19th. The auto parts company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. The firm 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%. Gentex’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. On average, analysts anticipate that Gentex Co. will post 1.68 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Wednesday, July 10th were paid a dividend of $0.115 per share. The ex-dividend date was Tuesday, July 9th. This represents a $0.46 annualized dividend and a yield of 1.75%. Gentex’s dividend payout ratio (DPR) is 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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