Reinhart Partners Inc. trimmed its holdings in Gentex Co. (NASDAQ:GNTX) by 41.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 124,433 shares of the auto parts company’s stock after selling 87,171 shares during the quarter. Reinhart Partners Inc.’s holdings in Gentex were worth $3,426,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in GNTX. Amundi Pioneer Asset Management Inc. raised its holdings 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 worth $3,086,000 after purchasing an additional 2,536 shares during the period. Carroll Financial Associates Inc. grew 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 buying an additional 789 shares during the period. Rowland & Co. Investment Counsel ADV purchased a new position in shares of Gentex during the 2nd quarter worth approximately $246,000. Naples Global Advisors LLC boosted its position in shares of Gentex by 6.8% during the 2nd quarter. Naples Global Advisors LLC now owns 20,330 shares of the auto parts company’s stock worth $500,000 after purchasing an additional 1,300 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Gentex during the 2nd quarter worth approximately $649,000. 80.83% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ GNTX traded down $0.18 during midday trading on Friday, hitting $29.21. The company had a trading volume of 990,100 shares, compared to its average volume of 1,697,518. The firm has a market capitalization of $7.42 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 3.56 and a beta of 1.17. The business has a 50-day simple moving average of $27.58 and a two-hundred day simple moving average of $25.44. Gentex Co. has a twelve month low of $19.24 and a twelve month high of $29.69.
Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, October 18th. The auto parts company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $477.76 million during the quarter, compared to analyst estimates of $475.59 million. Gentex had a net margin of 23.09% and a return on equity of 22.87%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 earnings per share. Research analysts forecast that Gentex Co. will post 1.64 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 1.57%. Gentex’s payout ratio is presently 28.40%.
GNTX has been the subject of a number of research analyst reports. ValuEngine raised shares of Gentex from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. B. Riley increased their price objective on shares of Gentex from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Guggenheim set a $31.00 price objective on shares of Gentex and gave the stock a “buy” rating in a research report on Monday, October 21st. BidaskClub raised shares of Gentex from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Zacks Investment Research cut shares of Gentex from a “hold” rating to a “sell” rating and set a $29.00 price objective for the company. in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $27.28.
In other news, Director Gary F. Goode sold 9,414 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $28.10, for a total transaction of $264,533.40. Following the sale, the director now owns 29,817 shares in the company, valued at approximately $837,857.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Roger Perry Campbell sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $88.92, for a total value of $133,380.00. Insiders sold 42,914 shares of company stock valued at $1,284,113 over the last ninety days. 0.37% of the stock is currently owned by company insiders.
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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