Robeco Institutional Asset Management B.V. purchased a new position in Gentex Co. (NASDAQ:GNTX) in the fourth quarter, HoldingsChannel reports. The fund purchased 171,458 shares of the auto parts company’s stock, valued at approximately $3,592,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Redmond Asset Management LLC lifted its position in shares of Gentex by 7.8% in the third quarter. Redmond Asset Management LLC now owns 97,492 shares of the auto parts company’s stock worth $1,930,000 after purchasing an additional 7,018 shares in the last quarter. Sprucegrove Investment Management Ltd. raised its position in Gentex by 34.5% during the third quarter. Sprucegrove Investment Management Ltd. now owns 1,207,300 shares of the auto parts company’s stock valued at $23,905,000 after acquiring an additional 309,800 shares in the last quarter. Claar Advisors LLC bought a new position in Gentex during the third quarter valued at approximately $9,900,000. Northern Trust Corp raised its position in Gentex by 0.4% during the second quarter. Northern Trust Corp now owns 2,480,589 shares of the auto parts company’s stock valued at $47,057,000 after acquiring an additional 10,589 shares in the last quarter. Finally, BerganKDV Wealth Management LLC bought a new position in Gentex during the third quarter valued at approximately $376,000. 81.39% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on GNTX shares. Robert W. Baird cut their price objective on shares of Gentex from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Monday, October 23rd. Zacks Investment Research raised shares of Gentex from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Tuesday, October 17th. BidaskClub raised shares of Gentex from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. FBR & Co reaffirmed a “buy” rating and set a $25.00 price objective on shares of Gentex in a research report on Wednesday, October 18th. Finally, ValuEngine raised shares of Gentex from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Gentex presently has a consensus rating of “Buy” and an average price target of $25.50.
Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, January 26th. The auto parts company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.01. Gentex had a net margin of 22.66% and a return on equity of 18.35%. The company had revenue of $459.57 million for the quarter, compared to analyst estimates of $449.43 million. During the same quarter last year, the firm posted $0.31 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. equities analysts anticipate that Gentex Co. will post 1.62 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 17th. Stockholders of record on Friday, January 5th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Thursday, January 4th. Gentex’s dividend payout ratio is 28.37%.
In other news, General Counsel Scott P. Ryan sold 7,220 shares of Gentex stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $23.66, for a total value of $170,825.20. Following the transaction, the general counsel now owns 21,329 shares of the company’s stock, valued at $504,644.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kevin C. Nash sold 7,874 shares of Gentex stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $23.40, for a total transaction of $184,251.60. Following the completion of the transaction, the insider now directly owns 34,062 shares in the company, valued at approximately $797,050.80. The disclosure for this sale can be found here. In the last three months, insiders sold 27,094 shares of company stock worth $635,877. Insiders own 2.50% of the company’s stock.
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Gentex Company 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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