State of Alaska Department of Revenue cut its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 18.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 45,302 shares of the auto parts company’s stock after selling 10,383 shares during the period. State of Alaska Department of Revenue’s holdings in Gentex were worth $1,247,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Carroll Financial Associates Inc. grew its position in shares of Gentex by 159.1% during the 2nd quarter. Carroll Financial Associates Inc. now owns 1,285 shares of the auto parts company’s stock valued at $31,000 after acquiring an additional 789 shares during the period. Capital Bank & Trust Co acquired a new stake in shares of Gentex during the 2nd quarter valued at about $49,000. Hikari Tsushin Inc. acquired a new stake in shares of Gentex during the 2nd quarter valued at about $50,000. Parallel Advisors LLC boosted its holdings in Gentex by 64.3% in the 2nd quarter. Parallel Advisors LLC now owns 4,695 shares of the auto parts company’s stock worth $116,000 after buying an additional 1,838 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Gentex by 26.1% in the 2nd quarter. Captrust Financial Advisors now owns 4,919 shares of the auto parts company’s stock worth $121,000 after buying an additional 1,019 shares during the last quarter. Hedge funds and other institutional investors own 80.90% of the company’s stock.
Several equities research analysts recently issued reports on GNTX shares. ValuEngine cut Gentex from a “hold” rating to a “sell” rating in a report on Wednesday. BidaskClub upgraded Gentex from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. Longbow Research reiterated a “hold” rating on shares of Gentex in a report on Sunday, July 7th. B. Riley set a $29.00 price objective on Gentex and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Zacks Investment Research upgraded Gentex from a “sell” rating to a “hold” rating and set a $27.00 price objective on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Gentex currently has a consensus rating of “Hold” and an average price target of $23.52.
GNTX stock opened at $26.44 on Friday. Gentex Co. has a 12-month low of $17.80 and a 12-month high of $28.43. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 3.07 and a beta of 1.22. The business’s 50-day moving average is $27.01 and its 200 day moving average is $24.49.
Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, July 19th. The auto parts company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The business had revenue of $468.71 million for the quarter, compared to analysts’ expectations of $462.65 million. Gentex had a return on equity of 23.08% and a net margin of 23.28%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. As a group, equities research analysts anticipate that Gentex Co. will post 1.68 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Tuesday, October 8th. Gentex’s dividend payout ratio is currently 28.40%.
Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.
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