Janney Montgomery Scott LLC raised its holdings in shares of Gentex Corporation (NASDAQ:GNTX – Free Report) by 5.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,036,453 shares of the auto parts company’s stock after purchasing an additional 57,497 shares during the period. Janney Montgomery Scott LLC’s holdings in Gentex were worth $22,647,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of GNTX. Royal Bank of Canada lifted its position in shares of Gentex by 33.1% in the 1st quarter. Royal Bank of Canada now owns 189,561 shares of the auto parts company’s stock worth $4,418,000 after purchasing an additional 47,150 shares during the period. Goldman Sachs Group Inc. increased its holdings in Gentex by 1.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,321,634 shares of the auto parts company’s stock valued at $30,794,000 after buying an additional 23,454 shares during the period. Empowered Funds LLC raised its stake in Gentex by 255.6% in the first quarter. Empowered Funds LLC now owns 81,142 shares of the auto parts company’s stock worth $1,891,000 after buying an additional 58,323 shares in the last quarter. Invesco Ltd. raised its stake in Gentex by 8.0% in the second quarter. Invesco Ltd. now owns 813,163 shares of the auto parts company’s stock worth $17,881,000 after buying an additional 60,127 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Gentex by 2,038.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,512 shares of the auto parts company’s stock worth $99,000 after buying an additional 4,301 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on GNTX shares. UBS Group set a $26.00 target price on Gentex in a research report on Sunday, April 26th. Wall Street Zen lowered Gentex from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings upgraded Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. raised their price objective on Gentex from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Finally, Freedom Capital upgraded Gentex to a “strong-buy” rating in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $26.83.
Gentex Stock Performance
Gentex stock opened at $25.27 on Wednesday. The business’s 50-day simple moving average is $24.16 and its two-hundred day simple moving average is $23.46. The company has a market cap of $5.38 billion, a PE ratio of 14.20 and a beta of 0.79. Gentex Corporation has a fifty-two week low of $20.48 and a fifty-two week high of $29.38.
Gentex (NASDAQ:GNTX – Get Free Report) last announced its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.04. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The firm had revenue of $675.44 million during the quarter, compared to analysts’ expectations of $649.42 million. During the same period last year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. As a group, analysts predict that Gentex Corporation will post 1.96 EPS for the current fiscal year.
Gentex Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.9%. Gentex’s dividend payout ratio (DPR) is currently 26.97%.
Insider Buying and Selling at Gentex
In other news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $22.98, for a total value of $136,478.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brian C. Walker sold 5,939 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $22.98, for a total transaction of $136,478.22. Following the transaction, the director directly owned 24,205 shares of the company’s stock, valued at approximately $556,230.90. This trade represents a 19.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 16,693 shares of company stock worth $385,194. Company insiders own 0.55% of the company’s stock.
Gentex Company Profile
Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).
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