Janiczek Wealth Management LLC cut its holdings in Gentex Co. (NASDAQ:GNTX – Free Report) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,858 shares of the auto parts company’s stock after selling 522 shares during the quarter. Janiczek Wealth Management LLC’s holdings in Gentex were worth $347,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GNTX. Moneta Group Investment Advisors LLC increased its stake in Gentex by 99,783.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,630,950 shares of the auto parts company’s stock worth $235,366,000 after purchasing an additional 8,622,309 shares in the last quarter. Ariel Investments LLC increased its stake in Gentex by 92.4% in the 1st quarter. Ariel Investments LLC now owns 8,174,011 shares of the auto parts company’s stock worth $238,436,000 after purchasing an additional 3,925,355 shares in the last quarter. Morgan Stanley increased its stake in Gentex by 147.7% in the 4th quarter. Morgan Stanley now owns 3,801,402 shares of the auto parts company’s stock worth $103,664,000 after purchasing an additional 2,266,973 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in Gentex by 4,004.6% in the 1st quarter. Alyeska Investment Group L.P. now owns 2,271,662 shares of the auto parts company’s stock worth $63,675,000 after purchasing an additional 2,216,318 shares in the last quarter. Finally, Norges Bank purchased a new position in Gentex in the 4th quarter worth about $58,990,000. 84.60% of the stock is currently owned by institutional investors.
In other news, Director Kathleen Starkoff sold 4,430 shares of Gentex stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $33.20, for a total transaction of $147,076.00. Following the completion of the sale, the director now directly owns 21,441 shares in the company, valued at approximately $711,841.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is owned by corporate insiders.
Gentex Stock Performance
Gentex (NASDAQ:GNTX – Get Free Report) last announced its quarterly earnings results on Friday, July 28th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.07. The business had revenue of $583.47 million during the quarter, compared to analyst estimates of $539.04 million. Gentex had a return on equity of 17.37% and a net margin of 17.23%. On average, equities research analysts expect that Gentex Co. will post 1.76 EPS for the current fiscal year.
Gentex Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Friday, October 6th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.48 annualized dividend and a dividend yield of 1.50%. Gentex’s dividend payout ratio is 30.57%.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the company. B. Riley lifted their price target on Gentex from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. StockNews.com began coverage on Gentex in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Bank of America raised Gentex from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $26.00 to $33.00 in a research note on Thursday, July 6th. JPMorgan Chase & Co. lifted their target price on Gentex from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, July 20th. Finally, Robert W. Baird lifted their target price on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, July 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Gentex currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.
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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