Parsons Capital Management Inc. RI reduced its position in Gentex Corporation (NASDAQ:GNTX) by 0.2% during the third quarter, Holdings Channel reports. The institutional investor owned 139,970 shares of the company’s stock after selling 330 shares during the period. Parsons Capital Management Inc. RI’s holdings in Gentex Corporation were worth $2,458,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in GNTX. Capital Fund Management S.A. purchased a new position in shares of Gentex Corporation during the second quarter valued at about $3,171,000. Cardinal Capital Management raised its position in shares of Gentex Corporation by 8.9% in the second quarter. Cardinal Capital Management now owns 16,457 shares of the company’s stock valued at $254,000 after buying an additional 1,351 shares in the last quarter. Essex Financial Services Inc. purchased a new position in shares of Gentex Corporation during the second quarter valued at about $190,000. Tocqueville Asset Management L.P. raised its position in shares of Gentex Corporation by 12.2% in the second quarter. Tocqueville Asset Management L.P. now owns 788,450 shares of the company’s stock valued at $12,182,000 after buying an additional 85,600 shares in the last quarter. Finally, Wright Investors Service Inc. raised its position in shares of Gentex Corporation by 5.1% in the second quarter. Wright Investors Service Inc. now owns 36,970 shares of the company’s stock valued at $571,000 after buying an additional 1,795 shares in the last quarter. 84.56% of the stock is owned by institutional investors.
Gentex Corporation (NASDAQ:GNTX) traded down 1.125% during trading on Wednesday, reaching $20.655. The company’s stock had a trading volume of 400,346 shares. The stock’s 50-day moving average is $20.54 and its 200 day moving average is $18.35. Gentex Corporation has a 12 month low of $13.02 and a 12 month high of $21.89. The company has a market cap of $5.93 billion, a P/E ratio of 17.357 and a beta of 0.87.
Gentex Corporation (NASDAQ:GNTX) last posted its earnings results on Friday, January 27th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by $0.01. The business had revenue of $419.90 million for the quarter. Gentex Corporation had a return on equity of 19.05% and a net margin of 20.70%. Gentex Corporation’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. On average, equities analysts forecast that Gentex Corporation will post $1.31 EPS for the current fiscal year.
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 $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend was Wednesday, January 4th. Gentex Corporation’s payout ratio is 29.75%.
Several equities research analysts have recently weighed in on the company. Wells Fargo & Company reiterated an “outperform” rating and issued a $21.50 price objective on shares of Gentex Corporation in a research note on Tuesday. Susquehanna assumed coverage on Gentex Corporation in a research note on Monday, December 19th. They issued a “neutral” rating and a $21.00 price objective on the stock. FBR & Co upped their price objective on Gentex Corporation from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, October 21st. KeyCorp reiterated an “overweight” rating on shares of Gentex Corporation in a research note on Monday, January 9th. Finally, Wellington Shields lowered Gentex Corporation from a “buy” rating to an “accumulate” rating in a research note on Friday, January 27th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Gentex Corporation presently has an average rating of “Buy” and an average target price of $22.30.
In related news, VP Joseph E. Iv Matthews sold 2,244 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $18.00, for a total transaction of $40,392.00. Following the sale, the vice president now directly owns 17,614 shares in the company, valued at approximately $317,052. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederick A. Sotok sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of $20.93, for a total transaction of $251,160.00. The disclosure for this sale can be found here. Insiders sold a total of 18,788 shares of company stock valued at $386,522 over the last ninety days. 2.90% of the stock is currently owned by insiders.
About Gentex Corporation
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 segments include Automotive Products and Other, which includes Fire Protection Products and Dimmable Aircraft Windows.
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