Asset Management One Co. Ltd. cut its holdings in Gentex Co. (NASDAQ:GNTX – Get Rating) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 257,565 shares of the auto parts company’s stock after selling 9,282 shares during the quarter. Asset Management One Co. Ltd. owned about 0.11% of Gentex worth $7,052,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of GNTX. Commonwealth Equity Services LLC lifted its position in shares of Gentex by 0.5% in the third quarter. Commonwealth Equity Services LLC now owns 72,087 shares of the auto parts company’s stock worth $1,718,000 after purchasing an additional 380 shares in the last quarter. Formidable Asset Management LLC boosted its stake in shares of Gentex by 2.4% during the 3rd quarter. Formidable Asset Management LLC now owns 16,002 shares of the auto parts company’s stock valued at $381,000 after buying an additional 381 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Gentex by 0.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 144,185 shares of the auto parts company’s stock valued at $3,445,000 after acquiring an additional 435 shares in the last quarter. Toroso Investments LLC increased its stake in shares of Gentex by 2.6% in the third quarter. Toroso Investments LLC now owns 17,926 shares of the auto parts company’s stock worth $427,000 after acquiring an additional 462 shares during the last quarter. Finally, State of Michigan Retirement System boosted its position in Gentex by 0.8% during the fourth quarter. State of Michigan Retirement System now owns 59,740 shares of the auto parts company’s stock valued at $1,629,000 after purchasing an additional 500 shares during the last quarter. 83.80% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on GNTX shares. StockNews.com began coverage on Gentex in a research report on Thursday, March 16th. They issued a “buy” rating on the stock. TheStreet upgraded shares of Gentex from a “c+” rating to a “b” rating in a research note on Friday, January 27th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.00.
Gentex Stock Performance
Gentex (NASDAQ:GNTX – Get Rating) last announced its quarterly earnings results on Friday, January 27th. The auto parts company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). Gentex had a net margin of 16.61% and a return on equity of 15.91%. The company had revenue of $493.65 million for the quarter, compared to analyst estimates of $496.04 million. As a group, equities research analysts forecast that Gentex Co. will post 1.61 earnings per share for the current year.
Gentex Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 19th. Shareholders of record on Friday, April 7th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Wednesday, April 5th. Gentex’s dividend payout ratio is 35.29%.
Insider Buying and Selling at Gentex
In related news, CEO Steven R. Downing sold 17,730 shares of the business’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $30.21, for a total transaction of $535,623.30. Following the completion of the transaction, the chief executive officer now owns 118,506 shares of the company’s stock, valued at approximately $3,580,066.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Gentex news, CEO Steven R. Downing sold 17,730 shares of Gentex stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $30.21, for a total value of $535,623.30. Following the transaction, the chief executive officer now directly owns 118,506 shares of the company’s stock, valued at approximately $3,580,066.26. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Neil Boehm sold 1,242 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $28.41, for a total value of $35,285.22. Following the completion of the sale, the chief technology officer now directly owns 36,176 shares of the company’s stock, valued at $1,027,760.16. The disclosure for this sale can be found here. Insiders sold 35,643 shares of company stock worth $1,050,188 over the last ninety days. Company insiders own 0.16% of the company’s stock.
Gentex Profile
Gentex Corp. is a technology company, which engages in the design, development, and manufacture and supply of digital vision, connected car, dimmable glass, and fire protection products. It operates through the Automotive Products and Other segments. The Automotive Products segment operates in virtually all the foregoing facilities.
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