Rehmann Capital Advisory Group lifted its holdings in Gentex Corporation (NASDAQ:GNTX) by 27.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,217 shares of the auto parts company’s stock after acquiring an additional 4,179 shares during the period. Rehmann Capital Advisory Group’s holdings in Gentex Corporation were worth $380,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Alps Advisors Inc. increased its position in shares of Gentex Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 21,945 shares of the auto parts company’s stock worth $416,000 after acquiring an additional 56 shares in the last quarter. Trust Co. of Toledo NA OH increased its position in shares of Gentex Corporation by 1.6% in the second quarter. Trust Co. of Toledo NA OH now owns 13,942 shares of the auto parts company’s stock worth $264,000 after acquiring an additional 213 shares in the last quarter. Synovus Financial Corp increased its position in shares of Gentex Corporation by 2.8% in the second quarter. Synovus Financial Corp now owns 12,413 shares of the auto parts company’s stock worth $236,000 after acquiring an additional 336 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in shares of Gentex Corporation by 0.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 49,864 shares of the auto parts company’s stock worth $770,000 after acquiring an additional 353 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Gentex Corporation by 7.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,293 shares of the auto parts company’s stock worth $100,000 after acquiring an additional 368 shares in the last quarter. 81.00% of the stock is owned by institutional investors.
Several research firms have recently issued reports on GNTX. Craig Hallum lowered shares of Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research report on Monday, July 24th. Zacks Investment Research raised shares of Gentex Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Robert W. Baird raised shares of Gentex Corporation from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $17.36 to $22.00 in a research report on Thursday, August 24th. BMO Capital Markets reissued an “outperform” rating and issued a $22.00 price objective (down previously from $25.00) on shares of Gentex Corporation in a research report on Monday, July 24th. Finally, FBR & Co reissued an “outperform” rating and issued a $25.00 price objective on shares of Gentex Corporation in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $22.06.
Gentex Corporation (NASDAQ GNTX) traded up 0.47% during midday trading on Monday, reaching $19.11. 136,313 shares of the company were exchanged. The firm’s 50-day moving average is $19.64 and its 200-day moving average is $18.93. The firm has a market cap of $5.46 billion, a P/E ratio of 15.17 and a beta of 1.18. Gentex Corporation has a one year low of $16.06 and a one year high of $22.12.
Gentex Corporation (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, October 20th. The auto parts company reported $0.31 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.31. Gentex Corporation had a net margin of 20.80% and a return on equity of 18.45%. The business had revenue of $438.63 million during the quarter, compared to analysts’ expectations of $452.42 million. During the same period in the previous year, the company earned $0.32 earnings per share. Gentex Corporation’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts expect that Gentex Corporation will post $1.27 EPS for the current fiscal year.
Gentex Corporation declared that its Board of Directors has initiated a share buyback program on Wednesday, August 23rd that authorizes the company to buyback 15,000,000 outstanding shares. This buyback authorization authorizes the auto parts company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 18th. Investors of record on Friday, October 6th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Thursday, October 5th. Gentex Corporation’s dividend payout ratio (DPR) is currently 31.75%.
In related news, Chairman Fred Bauer sold 239,400 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $17.33, for a total transaction of $4,148,802.00. Following the transaction, the chairman now owns 5,771,128 shares of the company’s stock, valued at $100,013,648.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin C. Nash sold 4,320 shares of the business’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $19.70, for a total transaction of $85,104.00. Following the transaction, the insider now directly owns 30,732 shares in the company, valued at approximately $605,420.40. The disclosure for this sale can be found here. Insiders have sold 251,720 shares of company stock worth $4,391,506 in the last ninety days. 2.50% of the stock is currently owned by insiders.
Gentex Corporation Profile
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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