Gentex Corporation $GNTX Stock Position Lowered by Royal Bank of Canada

Royal Bank of Canada decreased its position in Gentex Corporation (NASDAQ:GNTX) by 63.9% in the first quarter, HoldingsChannel reports. The firm owned 82,023 shares of the auto parts company’s stock after selling 144,965 shares during the period. Royal Bank of Canada’s holdings in Gentex were worth $1,792,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Anchor Investment Management LLC acquired a new stake in Gentex during the 1st quarter valued at $26,000. AdvisorNet Financial Inc boosted its position in shares of Gentex by 2,299.0% in the first quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock worth $52,000 after buying an additional 2,299 shares during the period. Arax Advisory Partners acquired a new stake in shares of Gentex in the fourth quarter worth $52,000. Employees Retirement System of Texas acquired a new stake in shares of Gentex in the fourth quarter worth $56,000. Finally, Clearstead Advisors LLC grew its holdings in shares of Gentex by 21.4% during the fourth quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock valued at $58,000 after buying an additional 437 shares in the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GNTX shares. JPMorgan Chase & Co. dropped their price target on Gentex from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, August 10th. UBS Group reaffirmed a “neutral” rating and set a $25.00 target price (down from $26.00) on shares of Gentex in a research note on Thursday, July 9th. B. Riley Financial reiterated a “buy” rating and issued a $29.00 target price (up from $28.00) on shares of Gentex in a report on Monday, April 27th. Freedom Capital lowered shares of Gentex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Finally, Robert W. Baird increased their price target on shares of Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $26.80.

Gentex Trading Down 0.5%

NASDAQ GNTX opened at $23.68 on Wednesday. Gentex Corporation has a 1-year low of $20.48 and a 1-year high of $29.38. The company has a market capitalization of $5.04 billion, a PE ratio of 12.53 and a beta of 0.79. The firm’s fifty day simple moving average is $24.39 and its 200-day simple moving average is $23.50.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, July 24th. The auto parts company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.08. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The business had revenue of $651.30 million during the quarter, compared to analyst estimates of $669.65 million. During the same period last year, the company earned $0.43 earnings per share. Gentex’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, analysts predict that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, July 8th. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. Gentex’s payout ratio is presently 25.40%.

Gentex Profile

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).