Gentex Co. (NASDAQ:GNTX) CEO Steven R. Downing sold 6,300 shares of the company’s stock in a transaction dated Monday, February 22nd. The shares were sold at an average price of $35.57, for a total transaction of $224,091.00. Following the completion of the transaction, the chief executive officer now owns 138,911 shares in the company, valued at approximately $4,941,064.27. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of GNTX stock traded up $0.01 during mid-day trading on Tuesday, reaching $35.68. 64,261 shares of the stock traded hands, compared to its average volume of 1,736,995. The stock’s fifty day simple moving average is $35.40 and its two-hundred day simple moving average is $30.92. Gentex Co. has a 1-year low of $19.48 and a 1-year high of $37.75. The company has a market cap of $8.74 billion, a price-to-earnings ratio of 29.02, a price-to-earnings-growth ratio of 7.13 and a beta of 1.15.
Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Thursday, January 28th. The auto parts company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.08. The company had revenue of $529.60 million for the quarter, compared to analyst estimates of $482.66 million. Gentex had a return on equity of 16.59% and a net margin of 18.96%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 earnings per share. Equities research analysts expect that Gentex Co. will post 1.36 EPS for the current fiscal year.
A number of brokerages recently commented on GNTX. Zacks Investment Research upgraded shares of Gentex from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Wednesday, February 3rd. KeyCorp upped their price target on shares of Gentex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, January 25th. B. Riley upped their price target on shares of Gentex from $38.75 to $40.00 and gave the company a “buy” rating in a research note on Monday, February 1st. Seaport Global Securities assumed coverage on shares of Gentex in a research report on Thursday, January 28th. They set a “neutral” rating on the stock. Finally, Bank of America decreased their target price on shares of Gentex from $15.00 to $13.00 and set an “underperform” rating on the stock in a research report on Tuesday, November 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $30.67.
Several institutional investors have recently bought and sold shares of GNTX. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Gentex by 1.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 149,220 shares of the auto parts company’s stock worth $3,086,000 after acquiring an additional 2,536 shares during the period. NEXT Financial Group Inc acquired a new position in shares of Gentex in the third quarter worth approximately $194,000. Clear Harbor Asset Management LLC acquired a new position in Gentex in the third quarter valued at approximately $36,000. Xponance Inc. lifted its stake in Gentex by 16.9% in the third quarter. Xponance Inc. now owns 25,861 shares of the auto parts company’s stock valued at $666,000 after buying an additional 3,733 shares during the period. Finally, State of Michigan Retirement System lifted its stake in Gentex by 0.4% in the third quarter. State of Michigan Retirement System now owns 89,496 shares of the auto parts company’s stock valued at $2,305,000 after buying an additional 400 shares during the period. 81.53% of the stock is currently owned by institutional investors.
Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It operates through Automotive Products and Other segments. The company designs, develops, manufactures, and markets 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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