Gentex Co. (NASDAQ:GNTX) Shares Sold by Advisor Group Holdings Inc.
Advisor Group Holdings Inc. reduced its holdings in Gentex Co. (NASDAQ:GNTX) by 9.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,498 shares of the auto parts company’s stock after selling 11,098 shares during the quarter. Advisor Group Holdings Inc.’s holdings in Gentex were worth $2,693,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the business. Cigna Investments Inc. New boosted its position in Gentex by 0.6% during the 1st quarter. Cigna Investments Inc. New now owns 70,767 shares of the auto parts company’s stock worth $1,569,000 after acquiring an additional 450 shares during the period. Public Employees Retirement Association of Colorado raised its stake in shares of Gentex by 1.3% during the first quarter. Public Employees Retirement Association of Colorado now owns 34,910 shares of the auto parts company’s stock valued at $774,000 after purchasing an additional 461 shares in the last quarter. 180 Wealth Advisors LLC lifted its holdings in Gentex by 1.5% in the second quarter. 180 Wealth Advisors LLC now owns 42,691 shares of the auto parts company’s stock worth $1,102,000 after purchasing an additional 622 shares during the period. OLD National Bancorp IN grew its position in Gentex by 2.6% in the 2nd quarter. OLD National Bancorp IN now owns 28,730 shares of the auto parts company’s stock valued at $740,000 after buying an additional 731 shares in the last quarter. Finally, Smith Graham & Co. Investment Advisors LP lifted its stake in shares of Gentex by 0.4% in the 2nd quarter. Smith Graham & Co. Investment Advisors LP now owns 212,693 shares of the auto parts company’s stock worth $5,481,000 after acquiring an additional 853 shares during the period. 81.95% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on GNTX shares. BidaskClub raised Gentex from a “strong sell” rating to a “sell” rating in a report on Wednesday. Jefferies Financial Group boosted their price objective on Gentex from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. B. Riley reaffirmed a “buy” rating and set a $32.00 target price on shares of Gentex in a research note on Monday, June 29th. JPMorgan Chase & Co. lifted their target price on Gentex from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday, June 19th. Finally, TheStreet downgraded shares of Gentex from a “b” rating to a “c+” rating in a report on Friday, July 24th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Gentex presently has a consensus rating of “Hold” and an average target price of $28.75.
Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, July 24th. The auto parts company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.10). The business had revenue of $229.93 million for the quarter, compared to analyst estimates of $266.36 million. Gentex had a return on equity of 16.26% and a net margin of 18.60%. The company’s revenue was down 50.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 earnings per share. Equities research analysts predict that Gentex Co. will post 1.18 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Friday, October 9th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, October 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.78%. Gentex’s payout ratio is 28.92%.
In other Gentex news, CEO Steven R. Downing sold 23,700 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $28.05, for a total value of $664,785.00. Following the transaction, the chief executive officer now directly owns 155,259 shares of the company’s stock, valued at approximately $4,355,014.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.37% of the company’s stock.
Gentex Company Profile
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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