Goelzer Investment Management Inc. Sells 3,960 Shares of Gentex Corporation (NASDAQ:GNTX)
Goelzer Investment Management Inc. lowered its position in Gentex Corporation (NASDAQ:GNTX) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 250,294 shares of the auto parts company’s stock after selling 3,960 shares during the period. Goelzer Investment Management Inc. owned about 0.09% of Gentex Corporation worth $4,748,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Glen Harbor Capital Management LLC increased its stake in shares of Gentex Corporation by 111.3% in the first quarter. Glen Harbor Capital Management LLC now owns 25,938 shares of the auto parts company’s stock worth $553,000 after buying an additional 13,662 shares during the period. First Citizens Bank & Trust Co. purchased a new stake in shares of Gentex Corporation during the first quarter worth approximately $379,000. Profund Advisors LLC increased its stake in shares of Gentex Corporation by 5.6% in the first quarter. Profund Advisors LLC now owns 40,105 shares of the auto parts company’s stock worth $855,000 after buying an additional 2,119 shares during the period. Hollencrest Securities LLC purchased a new stake in shares of Gentex Corporation during the first quarter worth approximately $297,000. Finally, Nationwide Fund Advisors increased its stake in shares of Gentex Corporation by 0.8% in the first quarter. Nationwide Fund Advisors now owns 479,673 shares of the auto parts company’s stock worth $10,231,000 after buying an additional 3,649 shares during the period. Institutional investors and hedge funds own 82.40% of the company’s stock.
Shares of Gentex Corporation (NASDAQ GNTX) opened at 17.25 on Monday. The company has a 50-day moving average of $18.31 and a 200-day moving average of $19.88. The stock has a market capitalization of $4.95 billion, a P/E ratio of 13.69 and a beta of 1.18. Gentex Corporation has a 12-month low of $16.06 and a 12-month high of $22.12.
Gentex Corporation (NASDAQ:GNTX) last issued its earnings results on Friday, July 21st. The auto parts company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $443.10 million during the quarter, compared to analyst estimates of $446.36 million. Gentex Corporation had a net margin of 21.01% and a return on equity of 18.95%. Gentex Corporation’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. Equities analysts expect that Gentex Corporation will post $1.27 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 19th. Stockholders of record on Thursday, July 6th were issued a $0.10 dividend. This is an increase from Gentex Corporation’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Monday, July 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.32%. Gentex Corporation’s dividend payout ratio is currently 31.50%.
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A number of research firms recently issued reports on GNTX. Zacks Investment Research upgraded shares of 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. Wellington Shields downgraded shares of Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a report on Thursday, May 4th. BidaskClub downgraded shares of Gentex Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. FBR & Co restated an “outperform” rating and issued a $25.00 target price on shares of Gentex Corporation in a report on Monday, July 24th. Finally, Craig Hallum downgraded shares of 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $21.75.
In other news, Director John A. Mulder sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $19.22, for a total value of $192,200.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.50% of the stock is owned by corporate insiders.
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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