Gentex Co. (NASDAQ:GNTX – Get Rating) – Equities research analysts at Jefferies Financial Group lowered their FY2022 earnings estimates for shares of Gentex in a report issued on Sunday, January 22nd. Jefferies Financial Group analyst D. Kelley now anticipates that the auto parts company will post earnings per share of $1.39 for the year, down from their prior estimate of $1.40. The consensus estimate for Gentex’s current full-year earnings is $1.38 per share. Jefferies Financial Group also issued estimates for Gentex’s Q4 2022 earnings at $0.41 EPS, Q1 2023 earnings at $0.42 EPS, Q2 2023 earnings at $0.43 EPS and FY2023 earnings at $1.81 EPS.
Gentex (NASDAQ:GNTX – Get Rating) last issued its quarterly earnings data on Friday, October 28th. The auto parts company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.08). The firm had revenue of $493.64 million during the quarter, compared to analyst estimates of $494.82 million. Gentex had a net margin of 17.17% and a return on equity of 16.06%. The company’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 earnings per share.
Gentex Price Performance
Shares of NASDAQ:GNTX opened at $28.98 on Tuesday. The firm has a market capitalization of $6.80 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 1.06 and a beta of 0.93. The firm’s 50-day moving average is $27.99 and its two-hundred day moving average is $27.20. Gentex has a 1 year low of $23.28 and a 1 year high of $33.07.
Hedge Funds Weigh In On Gentex
Several hedge funds have recently made changes to their positions in GNTX. Hendershot Investments Inc. increased its position in Gentex by 5.1% during the fourth quarter. Hendershot Investments Inc. now owns 398,357 shares of the auto parts company’s stock worth $10,863,000 after buying an additional 19,394 shares during the period. Xponance Inc. raised its position in Gentex by 11.7% in the 4th quarter. Xponance Inc. now owns 30,992 shares of the auto parts company’s stock valued at $845,000 after purchasing an additional 3,255 shares during the last quarter. Cardinal Capital Management raised its position in Gentex by 4.6% in the 4th quarter. Cardinal Capital Management now owns 40,796 shares of the auto parts company’s stock valued at $1,113,000 after purchasing an additional 1,782 shares during the last quarter. Janiczek Wealth Management LLC raised its position in Gentex by 135.8% in the 4th quarter. Janiczek Wealth Management LLC now owns 10,483 shares of the auto parts company’s stock valued at $298,000 after purchasing an additional 6,037 shares during the last quarter. Finally, Goelzer Investment Management Inc. raised its position in Gentex by 0.3% in the 4th quarter. Goelzer Investment Management Inc. now owns 318,700 shares of the auto parts company’s stock valued at $8,691,000 after purchasing an additional 919 shares during the last quarter. Hedge funds and other institutional investors own 83.80% of the company’s stock.
Insider Buying and Selling at Gentex
In other Gentex news, CEO Steven R. Downing bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The stock was purchased at an average price of $25.74 per share, for a total transaction of $257,400.00. Following the completion of the purchase, the chief executive officer now directly owns 118,506 shares in the company, valued at $3,050,344.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director James H. Wallace sold 14,000 shares of the company’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $26.04, for a total value of $364,560.00. Following the completion of the transaction, the director now owns 14,709 shares in the company, valued at approximately $383,022.36. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Steven R. Downing acquired 10,000 shares of the company’s stock in a transaction on Monday, October 31st. The shares were purchased at an average cost of $25.74 per share, for a total transaction of $257,400.00. Following the acquisition, the chief executive officer now owns 118,506 shares of the company’s stock, valued at approximately $3,050,344.44. The disclosure for this purchase can be found here. 0.16% of the stock is owned by insiders.
Gentex Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 18th. Shareholders of record on Friday, January 6th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Thursday, January 5th. Gentex’s dividend payout ratio is presently 35.82%.
Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, and internationally. It operates through Automotive Products and Other segments. The company offers 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, automotive suppliers, and various aftermarket and accessory customers.
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