Bank of Montreal Can Sells 199 Shares of Gentex Corporation (GNTX)
Bank of Montreal Can cut its stake in Gentex Corporation (NASDAQ:GNTX) by 0.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 89,179 shares of the auto parts company’s stock after selling 199 shares during the period. Bank of Montreal Can’s holdings in Gentex Corporation were worth $1,691,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Teachers Advisors LLC boosted its position in shares of Gentex Corporation by 17.8% in the fourth quarter. Teachers Advisors LLC now owns 392,756 shares of the auto parts company’s stock valued at $7,733,000 after buying an additional 59,358 shares during the period. Highbridge Capital Management LLC acquired a new position in shares of Gentex Corporation during the fourth quarter valued at $300,000. Raymond James Trust N.A. acquired a new position in shares of Gentex Corporation during the first quarter valued at $330,000. Creative Planning boosted its position in shares of Gentex Corporation by 3.5% in the first quarter. Creative Planning now owns 15,954 shares of the auto parts company’s stock valued at $340,000 after buying an additional 538 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in shares of Gentex Corporation by 2.4% in the first quarter. Louisiana State Employees Retirement System now owns 72,500 shares of the auto parts company’s stock valued at $1,546,000 after buying an additional 1,700 shares during the period. Hedge funds and other institutional investors own 81.46% of the company’s stock.
Gentex Corporation (NASDAQ GNTX) traded down 1.36% during midday trading on Tuesday, reaching $17.45. 622,439 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $17.97 and its 200 day moving average is $19.64. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 13.85 and a beta of 1.18. Gentex Corporation has a 52 week low of $16.06 and a 52 week high of $22.12.
Gentex Corporation (NASDAQ:GNTX) last released its quarterly earnings data on Friday, July 21st. The auto parts company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Gentex Corporation had a return on equity of 18.95% and a net margin of 21.01%. The company had revenue of $443.10 million during the quarter, compared to analysts’ expectations of $446.36 million. During the same quarter in the prior year, the company posted $0.30 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts anticipate that Gentex Corporation will post $1.27 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 19th. Shareholders of record on Thursday, July 6th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Monday, July 3rd. This is a positive change from Gentex Corporation’s previous quarterly dividend of $0.09. Gentex Corporation’s dividend payout ratio is currently 31.50%.
GNTX has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Gentex Corporation from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Wednesday, April 26th. Wellington Shields cut shares of Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a research note on Thursday, May 4th. Craig Hallum cut shares of Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a research note on Monday, July 24th. FBR & Co reiterated an “outperform” rating and issued a $25.00 price objective on shares of Gentex Corporation in a research note on Monday, July 24th. Finally, BMO Capital Markets restated an “outperform” rating and set a $22.00 target price (down previously from $25.00) on shares of Gentex Corporation in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $21.75.
In other Gentex Corporation news, Director John A. Mulder sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $19.22, for a total value of $192,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Fred Bauer sold 239,400 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $17.33, for a total value of $4,148,802.00. Following the completion of the sale, the chairman now owns 5,771,128 shares in the company, valued at approximately $100,013,648.24. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.
Gentex Corporation Company Profile
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 business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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