Bank of Montreal Can Raises Position in Gentex Corporation (GNTX)
Bank of Montreal Can boosted its position in shares of Gentex Corporation (NASDAQ:GNTX) by 3.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,322 shares of the company’s stock after buying an additional 2,860 shares during the period. Bank of Montreal Can’s holdings in Gentex Corporation were worth $1,446,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of GNTX. Neuberger Berman Group LLC increased its stake in Gentex Corporation by 21.9% in the second quarter. Neuberger Berman Group LLC now owns 3,959,098 shares of the company’s stock worth $61,168,000 after buying an additional 710,950 shares during the last quarter. First Quadrant L P CA increased its stake in Gentex Corporation by 71.2% in the third quarter. First Quadrant L P CA now owns 1,322,432 shares of the company’s stock worth $23,222,000 after buying an additional 550,132 shares during the last quarter. Vanguard Group Inc. increased its stake in Gentex Corporation by 2.4% in the second quarter. Vanguard Group Inc. now owns 20,838,885 shares of the company’s stock worth $321,960,000 after buying an additional 489,936 shares during the last quarter. BlackRock Fund Advisors increased its stake in Gentex Corporation by 4.5% in the second quarter. BlackRock Fund Advisors now owns 10,156,345 shares of the company’s stock worth $156,916,000 after buying an additional 439,765 shares during the last quarter. Finally, PGGM Investments increased its stake in Gentex Corporation by 21.2% in the second quarter. PGGM Investments now owns 2,187,201 shares of the company’s stock worth $33,792,000 after buying an additional 382,663 shares during the last quarter. Institutional investors own 85.01% of the company’s stock.
Shares of Gentex Corporation (NASDAQ:GNTX) traded up 1.61% during trading on Friday, hitting $20.89. 1,672,999 shares of the stock traded hands. Gentex Corporation has a 52 week low of $12.93 and a 52 week high of $20.89. The firm’s 50-day moving average price is $19.50 and its 200-day moving average price is $17.69. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 17.39 and a beta of 0.87.
Gentex Corporation (NASDAQ:GNTX) last issued its quarterly earnings results on Thursday, October 20th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. Gentex Corporation had a return on equity of 19.53% and a net margin of 20.86%. The company earned $429.60 million during the quarter, compared to analyst estimates of $428.43 million. During the same period in the previous year, the company earned $0.27 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that Gentex Corporation will post $1.21 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 18th. Stockholders of record on Friday, January 6th will be issued a dividend of $0.09 per share. The ex-dividend date is Wednesday, January 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.72%. Gentex Corporation’s dividend payout ratio (DPR) is presently 30.00%.
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A number of research firms have recently weighed in on GNTX. Susquehanna began coverage on shares of Gentex Corporation in a research report on Monday, December 19th. They set a “neutral” rating and a $21.00 price target for the company. FBR & Co raised their price target on shares of Gentex Corporation from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, October 21st. BMO Capital Markets assumed coverage on shares of Gentex Corporation in a report on Tuesday, December 20th. They issued an “outperform” rating and a $24.00 price objective for the company. Zacks Investment Research downgraded shares of Gentex Corporation from a “buy” rating to a “hold” rating in a report on Monday, November 14th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Gentex Corporation in a report on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Gentex Corporation presently has an average rating of “Hold” and an average price target of $20.29.
In related news, insider Kevin C. Nash sold 6,210 shares of the company’s stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $16.68, for a total value of $103,582.80. Following the completion of the transaction, the insider now directly owns 31,830 shares in the company, valued at $530,924.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joseph E. Iv Matthews sold 2,244 shares of the company’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $18.00, for a total value of $40,392.00. Following the completion of the transaction, the vice president now owns 17,614 shares of the company’s stock, valued at $317,052. The disclosure for this sale can be found here. Insiders own 2.90% 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 segments include Automotive Products and Other, which includes Fire Protection Products and Dimmable Aircraft Windows.
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