State Board of Administration of Florida Retirement System trimmed its position in Gentex Co. (NASDAQ:GNTX – Get Rating) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,533 shares of the auto parts company’s stock after selling 15,150 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.13% of Gentex worth $8,196,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Gentex by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 23,483,145 shares of the auto parts company’s stock valued at $559,838,000 after buying an additional 93,928 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Gentex by 0.9% during the 1st quarter. BlackRock Inc. now owns 20,990,163 shares of the auto parts company’s stock worth $612,282,000 after purchasing an additional 190,797 shares in the last quarter. Ariel Investments LLC grew its holdings in shares of Gentex by 92.4% during the 1st quarter. Ariel Investments LLC now owns 8,174,011 shares of the auto parts company’s stock worth $238,436,000 after purchasing an additional 3,925,355 shares in the last quarter. State Street Corp grew its holdings in shares of Gentex by 3.8% during the 3rd quarter. State Street Corp now owns 6,592,791 shares of the auto parts company’s stock worth $157,172,000 after purchasing an additional 238,753 shares in the last quarter. Finally, Cooke & Bieler LP grew its holdings in shares of Gentex by 5.2% during the 3rd quarter. Cooke & Bieler LP now owns 5,487,985 shares of the auto parts company’s stock worth $130,834,000 after purchasing an additional 271,838 shares in the last quarter. 83.80% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Gentex
In other Gentex news, CTO Neil Boehm sold 1,242 shares of the stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $28.41, for a total value of $35,285.22. Following the completion of the transaction, the chief technology officer now directly owns 36,176 shares in the company, valued at $1,027,760.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Gentex news, Director Richard O. Schaum sold 5,424 shares of the stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $27.89, for a total value of $151,275.36. Following the completion of the transaction, the director now directly owns 49,861 shares in the company, valued at $1,390,623.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Neil Boehm sold 1,242 shares of the stock in a transaction dated 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 transaction, the chief technology officer now owns 36,176 shares of the company’s stock, valued at $1,027,760.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,561 shares of company stock worth $466,490. 0.47% of the stock is currently owned by insiders.
Gentex Stock Down 1.7 %
Gentex (NASDAQ:GNTX – Get Rating) last released its quarterly earnings data on Friday, April 28th. The auto parts company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.04. The business had revenue of $550.76 million for the quarter, compared to analyst estimates of $529.59 million. Gentex had a return on equity of 16.02% and a net margin of 16.43%. Gentex’s revenue was up 17.6% compared to the same quarter last year. During the same period last year, the firm posted $0.37 earnings per share. On average, analysts anticipate that Gentex Co. will post 1.65 EPS for the current fiscal 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 $0.12 dividend. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a $0.48 annualized dividend and a yield of 1.70%. Gentex’s dividend payout ratio is presently 34.04%.
Analyst Ratings Changes
Several analysts have recently issued reports on the company. StockNews.com assumed coverage on Gentex in a report on Thursday, March 16th. They set a “buy” rating on the stock. TheStreet raised Gentex from a “c+” rating to a “b” rating in a report on Friday, January 27th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $30.00.
About Gentex
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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