FMR LLC reduced its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 22.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,638,017 shares of the auto parts company’s stock after selling 1,875,554 shares during the quarter. FMR LLC owned 2.60% of Gentex worth $137,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Redwood Investment Management LLC acquired a new stake in Gentex during the 1st quarter worth about $2,737,000. Advisory Services Network LLC lifted its position in Gentex by 4,080.1% during the 1st quarter. Advisory Services Network LLC now owns 10,492 shares of the auto parts company’s stock worth $217,000 after acquiring an additional 10,241 shares during the period. Quantinno Capital Management LP acquired a new stake in Gentex during the 1st quarter worth about $866,000. Fort L.P. lifted its position in Gentex by 38.9% during the 1st quarter. Fort L.P. now owns 80,992 shares of the auto parts company’s stock worth $1,675,000 after acquiring an additional 22,700 shares during the period. Finally, Riverhead Capital Management LLC lifted its position in Gentex by 19.9% during the 1st quarter. Riverhead Capital Management LLC now owns 376,961 shares of the auto parts company’s stock worth $7,796,000 after acquiring an additional 62,550 shares during the period. 82.55% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on GNTX shares. BMO Capital Markets reiterated a “hold” rating on shares of First Majestic Silver in a research note on Tuesday, April 2nd. BidaskClub cut Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Longbow Research restated a “hold” rating on shares of Cooper Tire & Rubber in a report on Sunday, July 7th. Finally, Zacks Investment Research upgraded Eutelsat Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $22.28.
Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Wednesday, April 24th. The auto parts company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Gentex had a return on equity of 23.03% and a net margin of 23.45%. The company had revenue of $468.60 million for the quarter, compared to analysts’ expectations of $463.79 million. During the same period in the prior year, the firm earned $0.40 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. On average, analysts expect that Gentex Co. will post 1.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Tuesday, July 9th. Gentex’s dividend payout ratio is currently 28.40%.
In other news, Director Gary F. Goode sold 5,045 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $23.20, for a total transaction of $117,044.00. Following the sale, the director now owns 21,045 shares of the company’s stock, valued at $488,244. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by corporate 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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