Trust Co. of Toledo NA OH raised its position in Gentex Corporation (NASDAQ:GNTX) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,729 shares of the auto parts company’s stock after buying an additional 63 shares during the period. Trust Co. of Toledo NA OH’s holdings in Gentex Corporation were worth $293,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Quadrant Capital Group LLC raised its stake in shares of Gentex Corporation by 9.1% in the first quarter. Quadrant Capital Group LLC now owns 5,660 shares of the auto parts company’s stock worth $117,000 after buying an additional 471 shares in the last quarter. Asset Management One Co. Ltd. purchased a new stake in shares of Gentex Corporation during the fourth quarter worth approximately $150,000. BB&T Corp purchased a new stake in shares of Gentex Corporation during the first quarter worth approximately $200,000. Reynders McVeigh Capital Management LLC purchased a new stake in shares of Gentex Corporation during the first quarter worth approximately $204,000. Finally, Reliance Trust Co. of Delaware purchased a new stake in shares of Gentex Corporation during the first quarter worth approximately $254,000. Institutional investors and hedge funds own 83.47% of the company’s stock.
Shares of Gentex Corporation (NASDAQ GNTX) traded down 4.78% on Friday, reaching $18.14. The company’s stock had a trading volume of 3,235,447 shares. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 14.63 and a beta of 1.12. The stock has a 50-day moving average price of $19.33 and a 200-day moving average price of $20.26. Gentex Corporation has a 1-year low of $14.66 and a 1-year high of $22.12.
Gentex Corporation (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, April 21st. The auto parts company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. Gentex Corporation had a return on equity of 19.39% and a net margin of 21.13%. The firm had revenue of $453.54 million for the quarter, compared to the consensus estimate of $444.92 million. During the same period in the previous year, the business earned $0.28 earnings per share. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, equities research analysts forecast that Gentex Corporation will post $1.31 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 19th. Investors of record on Thursday, July 6th will be paid a $0.10 dividend. The ex-dividend date is Monday, July 3rd. This is an increase from Gentex Corporation’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.21%. Gentex Corporation’s payout ratio is 28.57%.
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A number of equities research analysts recently commented on GNTX shares. Zacks Investment Research lowered Gentex Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, March 30th. BMO Capital Markets reiterated a “positive” rating and issued a $25.00 target price on shares of Gentex Corporation in a research report on Friday, March 24th. Finally, Wellington Shields downgraded Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a report on Thursday, May 4th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $23.10.
In related news, General Counsel Scott P. Ryan sold 4,920 shares of Gentex Corporation stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $20.38, for a total value of $100,269.60. Following the sale, the general counsel now directly owns 18,585 shares in the company, valued at $378,762.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Frederick A. Sotok sold 19,000 shares of Gentex Corporation stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $20.84, for a total value of $395,960.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,610 shares of company stock worth $1,139,229. Company insiders own 2.50% of the company’s stock.
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 business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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