Ronna Sue Cohen decreased its position in shares of Gentex Corporation (NASDAQ:GNTX) by 8.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,715 shares of the auto parts company’s stock after selling 975 shares during the period. Ronna Sue Cohen’s holdings in Gentex Corporation were worth $229,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its position in Gentex Corporation by 9.1% in the first quarter. Quadrant Capital Group LLC now owns 5,660 shares of the auto parts company’s stock worth $117,000 after buying an additional 471 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in Gentex Corporation during the fourth quarter worth about $150,000. BB&T Corp acquired a new position in Gentex Corporation during the first quarter worth about $200,000. Reynders McVeigh Capital Management LLC acquired a new position in Gentex Corporation during the first quarter worth about $204,000. Finally, Level Four Advisory Services LLC acquired a new position in Gentex Corporation during the first quarter worth about $226,000. Hedge funds and other institutional investors own 83.50% of the company’s stock.
Gentex Corporation (GNTX) traded up 0.93% during trading on Thursday, hitting $18.51. 1,170,413 shares of the stock were exchanged. Gentex Corporation has a 12 month low of $14.66 and a 12 month high of $22.12. The stock’s 50 day moving average price is $19.21 and its 200 day moving average price is $20.28. The stock has a market cap of $5.32 billion, a P/E ratio of 14.93 and a beta of 1.12.
Gentex Corporation (NASDAQ:GNTX) last announced its earnings results on Friday, April 21st. The auto parts company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. Gentex Corporation had a net margin of 21.13% and a return on equity of 19.39%. The firm had revenue of $453.54 million for the quarter, compared to the consensus estimate of $444.92 million. During the same period in the prior year, the firm earned $0.28 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. Analysts forecast that Gentex Corporation will post $1.31 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 19th. Investors of record on Thursday, July 6th will be paid a dividend of $0.10 per share. This is an increase from Gentex Corporation’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 2.16%. The ex-dividend date is Monday, July 3rd. Gentex Corporation’s dividend payout ratio is presently 28.57%.
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A number of equities analysts have recently issued reports on the stock. Wellington Shields downgraded shares of Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a research note on Thursday, May 4th. Zacks Investment Research upgraded shares of Gentex Corporation from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Wednesday, April 26th. Finally, BMO Capital Markets reiterated a “positive” rating and set a $25.00 price objective on shares of Gentex Corporation in a research note on Friday, March 24th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Gentex Corporation presently has a consensus rating of “Buy” and a consensus target price of $23.10.
In other Gentex Corporation news, Director Frederick A. Sotok sold 19,000 shares of the business’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $20.84, for a total transaction of $395,960.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John A. Mulder sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $21.28, for a total transaction of $212,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,610 shares of company stock worth $1,139,229. 2.50% of the stock is owned by insiders.
Gentex Corporation 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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