Comerica Bank reduced its stake in Gentex Co. (NASDAQ:GNTX) by 0.7% in the 3rd quarter, Holdings Channel reports. The firm owned 190,098 shares of the auto parts company’s stock after selling 1,405 shares during the period. Comerica Bank’s holdings in Gentex were worth $5,295,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of GNTX. 1 North Wealth Services LLC acquired a new stake in Gentex in the 3rd quarter worth approximately $28,000. Carroll Financial Associates Inc. lifted its holdings in shares of Gentex by 159.1% during the second quarter. Carroll Financial Associates Inc. now owns 1,285 shares of the auto parts company’s stock worth $31,000 after buying an additional 789 shares during the last quarter. Capital Bank & Trust Co acquired a new position in shares of Gentex during the second quarter worth approximately $49,000. Hikari Tsushin Inc. acquired a new position in shares of Gentex during the second quarter worth approximately $50,000. Finally, Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Gentex by 40.9% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 2,092 shares of the auto parts company’s stock worth $58,000 after buying an additional 607 shares during the last quarter. Hedge funds and other institutional investors own 80.83% of the company’s stock.
A number of brokerages have recently commented on GNTX. B. Riley upped their price target on Gentex from $29.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Zacks Investment Research lowered Gentex from a “hold” rating to a “sell” rating and set a $29.00 price target for the company. in a report on Thursday, October 17th. ValuEngine upgraded Gentex from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Guggenheim set a $31.00 price target on Gentex and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, BidaskClub upgraded Gentex from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $27.28.
Shares of GNTX stock opened at $29.15 on Thursday. Gentex Co. has a 12 month low of $19.24 and a 12 month high of $29.69. The firm has a market cap of $7.32 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 3.49 and a beta of 1.17. The stock has a 50 day moving average of $27.52 and a 200-day moving average of $25.37.
Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, October 18th. The auto parts company reported $0.44 EPS for the quarter, topping 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 return on equity of 22.87% and a net margin of 23.09%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 earnings per share. On average, equities analysts expect that Gentex Co. will post 1.64 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Tuesday, October 8th. Gentex’s dividend payout ratio is presently 28.40%.
In other news, CFO Kevin C. Nash sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $27.49, for a total transaction of $329,880.00. Following the sale, the chief financial officer now directly owns 26,966 shares in the company, valued at $741,295.34. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 shares were sold at an average price of $88.92, for a total value of $133,380.00. Over the last 90 days, insiders have sold 42,914 shares of company stock worth $1,284,113. 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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