Fort L.P. lessened its position in Gentex Co. (NASDAQ:GNTX – Get Rating) by 19.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 36,746 shares of the auto parts company’s stock after selling 8,815 shares during the quarter. Fort L.P.’s holdings in Gentex were worth $1,281,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in GNTX. Amundi Pioneer Asset Management Inc. raised its position in Gentex by 1.7% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 149,220 shares of the auto parts company’s stock valued at $3,086,000 after buying an additional 2,536 shares during the last quarter. CIBC Asset Management Inc raised its position in Gentex by 6.7% in the 3rd quarter. CIBC Asset Management Inc now owns 9,506 shares of the auto parts company’s stock valued at $314,000 after buying an additional 599 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Gentex by 19.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 38,780 shares of the auto parts company’s stock worth $1,279,000 after purchasing an additional 6,320 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Gentex by 36.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 48,366 shares of the auto parts company’s stock worth $1,595,000 after purchasing an additional 13,000 shares during the last quarter. Finally, King Luther Capital Management Corp increased its position in shares of Gentex by 25.7% during the 3rd quarter. King Luther Capital Management Corp now owns 406,390 shares of the auto parts company’s stock worth $13,403,000 after purchasing an additional 83,115 shares during the last quarter. 86.24% of the stock is currently owned by institutional investors and hedge funds.
GNTX has been the topic of several recent analyst reports. BNP Paribas initiated coverage on Gentex in a research report on Monday, April 11th. They set an “outperform” rating on the stock. Exane BNP Paribas initiated coverage on Gentex in a research report on Monday, April 11th. They set an “outperform” rating on the stock. Robert W. Baird boosted their price target on Gentex from $33.00 to $34.00 in a research report on Monday, April 25th. The Goldman Sachs Group lowered their price target on Gentex from $28.00 to $25.00 and set a “sell” rating on the stock in a research report on Tuesday, March 22nd. Finally, StockNews.com started coverage on Gentex in a research report on Thursday, March 31st. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $33.38.
Gentex (NASDAQ:GNTX – Get Rating) last released its quarterly earnings results on Friday, April 22nd. The auto parts company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. The business had revenue of $468.50 million during the quarter, compared to the consensus estimate of $432.40 million. Gentex had a return on equity of 17.46% and a net margin of 19.52%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 EPS. Sell-side analysts anticipate that Gentex Co. will post 1.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 20th. Investors of record on Friday, April 8th were paid a $0.12 dividend. The ex-dividend date was Thursday, April 7th. This represents a $0.48 annualized dividend and a yield of 1.61%. Gentex’s dividend payout ratio (DPR) is presently 34.29%.
In other news, General Counsel Scott P. Ryan sold 1,820 shares of the company’s stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $31.32, for a total transaction of $57,002.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven R. Downing sold 58,937 shares of the company’s stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $30.36, for a total value of $1,789,327.32. The disclosure for this sale can be found here. Insiders sold a total of 131,354 shares of company stock valued at $3,978,231 over the last 90 days. 0.16% of the stock is currently owned by corporate insiders.
Gentex Company Profile (Get Rating)
Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, and internationally. It operates through Automotive Products and Other segments. The company offers 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, automotive suppliers, and various aftermarket and accessory customers.
- Get a free copy of the StockNews.com research report on Gentex (GNTX)
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