Gentex Corporation (NASDAQ:GNTX) Stake Boosted by First Citizens Bank & Trust Co.
First Citizens Bank & Trust Co. increased its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 33.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,626 shares of the auto parts company’s stock after buying an additional 5,876 shares during the period. First Citizens Bank & Trust Co.’s holdings in Gentex Corporation were worth $448,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Trust Co. of Toledo NA OH raised its position in Gentex Corporation by 0.5% in the first quarter. Trust Co. of Toledo NA OH now owns 13,729 shares of the auto parts company’s stock valued at $293,000 after buying an additional 63 shares during the period. Northwestern Mutual Investment Management Company LLC raised its position in Gentex Corporation by 0.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 49,511 shares of the auto parts company’s stock valued at $1,056,000 after buying an additional 134 shares during the period. Cardinal Capital Management raised its position in Gentex Corporation by 1.6% in the first quarter. Cardinal Capital Management now owns 22,234 shares of the auto parts company’s stock valued at $474,000 after buying an additional 349 shares during the period. Gateway Investment Advisers LLC raised its position in Gentex Corporation by 0.4% in the second quarter. Gateway Investment Advisers LLC now owns 93,609 shares of the auto parts company’s stock valued at $1,776,000 after buying an additional 388 shares during the period. Finally, MAI Capital Management raised its position in Gentex Corporation by 3.2% in the first quarter. MAI Capital Management now owns 13,070 shares of the auto parts company’s stock valued at $279,000 after buying an additional 400 shares during the period. 82.40% of the stock is owned by institutional investors.
Shares of Gentex Corporation (NASDAQ GNTX) traded up 0.41% during trading on Monday, reaching $17.32. The company had a trading volume of 2,775,164 shares. The firm has a 50-day moving average of $18.31 and a 200-day moving average of $19.88. Gentex Corporation has a 12-month low of $16.06 and a 12-month high of $22.12. The company has a market cap of $4.97 billion, a P/E ratio of 13.75 and a beta of 1.18.
Gentex Corporation (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, July 21st. The auto parts company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The firm had revenue of $443.10 million for the quarter, compared to analyst estimates of $446.36 million. Gentex Corporation had a return on equity of 18.95% and a net margin of 21.01%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 EPS. On average, equities research analysts anticipate that Gentex Corporation will post $1.27 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 19th. Stockholders of record on Thursday, July 6th were issued a dividend of $0.10 per share. This is a positive change from Gentex Corporation’s previous quarterly dividend of $0.09. The ex-dividend date was Monday, July 3rd. This represents a $0.40 annualized dividend and a dividend yield of 2.31%. Gentex Corporation’s dividend payout ratio (DPR) is presently 31.50%.
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Several research firms have recently commented on GNTX. Craig Hallum lowered Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a report on Monday, July 24th. BMO Capital Markets reaffirmed an “outperform” rating and set a $22.00 target price (down from $25.00) on shares of Gentex Corporation in a report on Monday, July 24th. FBR & Co reaffirmed an “outperform” rating and set a $25.00 target price on shares of Gentex Corporation in a report on Monday, July 24th. Zacks Investment Research raised Gentex Corporation from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Wednesday, April 26th. Finally, BidaskClub lowered Gentex Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $21.75.
In related news, Director John A. Mulder sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $19.22, for a total value of $192,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.50% of the company’s stock.
About Gentex Corporation
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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