Amalgamated Bank Decreases Position in Gentex Co. (NASDAQ:GNTX)

Amalgamated Bank trimmed its stake in shares of Gentex Co. (NASDAQ:GNTXFree Report) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 152,809 shares of the auto parts company’s stock after selling 2,774 shares during the quarter. Amalgamated Bank owned about 0.07% of Gentex worth $4,972,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Gentex by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 23,483,145 shares of the auto parts company’s stock valued at $559,838,000 after purchasing an additional 93,928 shares in the last quarter. BlackRock Inc. boosted its position in shares of Gentex by 0.4% in the first quarter. BlackRock Inc. now owns 21,794,462 shares of the auto parts company’s stock worth $610,899,000 after buying an additional 94,837 shares during the period. Moneta Group Investment Advisors LLC boosted its position in shares of Gentex by 99,783.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,630,950 shares of the auto parts company’s stock worth $235,366,000 after buying an additional 8,622,309 shares during the period. Ariel Investments LLC boosted its position in shares of Gentex by 92.4% in the first quarter. Ariel Investments LLC now owns 8,174,011 shares of the auto parts company’s stock worth $238,436,000 after buying an additional 3,925,355 shares during the period. Finally, State Street Corp boosted its position in shares of Gentex by 1.5% in the first quarter. State Street Corp now owns 6,886,387 shares of the auto parts company’s stock worth $193,025,000 after buying an additional 100,063 shares during the period. 84.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GNTX has been the subject of several recent analyst reports. B. Riley raised their target price on Gentex from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. The Goldman Sachs Group increased their price objective on Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. JPMorgan Chase & Co. increased their price objective on Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Finally, StockNews.com lowered Gentex from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $36.80.

Check Out Our Latest Stock Report on Gentex

Insider Buying and Selling at Gentex

In other news, Director Richard O. Schaum sold 6,022 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $33.93, for a total value of $204,326.46. Following the sale, the director now directly owns 62,555 shares of the company’s stock, valued at $2,122,491.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.16% of the company’s stock.

Gentex Price Performance

NASDAQ GNTX opened at $34.55 on Thursday. Gentex Co. has a fifty-two week low of $25.77 and a fifty-two week high of $35.08. The stock’s 50-day moving average is $32.27 and its two-hundred day moving average is $31.82. The firm has a market cap of $8.06 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 0.73 and a beta of 0.97.

Gentex (NASDAQ:GNTXGet Free Report) last posted its earnings results on Friday, January 26th. The auto parts company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06. Gentex had a return on equity of 19.25% and a net margin of 18.63%. The company had revenue of $589.13 million for the quarter, compared to analyst estimates of $563.42 million. During the same period last year, the company earned $0.37 earnings per share. The business’s revenue was up 19.3% compared to the same quarter last year. On average, equities analysts expect that Gentex Co. will post 2.19 EPS for the current year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Friday, January 5th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $0.48 annualized dividend and a yield of 1.39%. Gentex’s dividend payout ratio (DPR) is currently 26.09%.

Gentex Profile

(Free Report)

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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Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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