Louisiana State Employees Retirement System acquired a new stake in shares of Gentex Corporation (NASDAQ:GNTX – Free Report) during the 1st quarter, HoldingsChannel reports. The institutional investor acquired 63,500 shares of the auto parts company’s stock, valued at approximately $1,387,000.
A number of other large investors also recently bought and sold shares of the business. Clearstead Advisors LLC boosted its position in Gentex by 21.4% during the 4th quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock valued at $58,000 after acquiring an additional 437 shares in the last quarter. Gagnon Securities LLC raised its position in shares of Gentex by 0.8% in the 4th quarter. Gagnon Securities LLC now owns 55,672 shares of the auto parts company’s stock worth $1,295,000 after acquiring an additional 458 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in shares of Gentex by 1.9% in the 4th quarter. First Citizens Bank & Trust Co. now owns 29,807 shares of the auto parts company’s stock worth $694,000 after acquiring an additional 559 shares in the last quarter. Orion Porfolio Solutions LLC lifted its stake in shares of Gentex by 4.5% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 13,025 shares of the auto parts company’s stock worth $286,000 after purchasing an additional 562 shares during the last quarter. Finally, Merit Financial Group LLC lifted its stake in shares of Gentex by 2.1% during the 4th quarter. Merit Financial Group LLC now owns 30,641 shares of the auto parts company’s stock worth $713,000 after purchasing an additional 635 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.
Wall Street Analysts Forecast Growth
GNTX has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on Gentex from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Freedom Capital raised shares of Gentex to a “strong-buy” rating in a research report on Friday, March 27th. Weiss Ratings upgraded shares of Gentex from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Robert W. Baird lifted their price objective on shares of Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, B. Riley Financial reiterated a “buy” rating and set a $29.00 price objective (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $26.83.
Gentex Stock Performance
Gentex stock opened at $24.51 on Friday. The stock has a 50-day moving average of $24.23 and a two-hundred day moving average of $23.47. Gentex Corporation has a one year low of $20.48 and a one year high of $29.38. The stock has a market cap of $5.22 billion, a PE ratio of 13.77 and a beta of 0.78.
Gentex (NASDAQ:GNTX – Get Free Report) last issued its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 earnings per share 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 business had revenue of $675.44 million during the quarter, compared to the consensus estimate of $649.42 million. During the same quarter last year, the company earned $0.42 earnings per share. The company’s quarterly revenue was up 17.1% on a year-over-year basis. As a group, sell-side analysts predict that Gentex Corporation will post 1.97 EPS for the current fiscal year.
Gentex Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, July 8th. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. Gentex’s dividend payout ratio (DPR) is 26.97%.
Insiders Place Their Bets
In other Gentex news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian C. Walker sold 5,939 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. Following the transaction, the director owned 24,205 shares in the company, valued at $556,230.90. The trade was a 19.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 16,693 shares of company stock valued at $385,194. Insiders own 0.55% of the company’s stock.
Gentex 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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