Disciplined Growth Investors Inc. MN reduced its position in shares of Gentex Corporation (NASDAQ:GNTX) by 1.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,300,038 shares of the auto parts company’s stock after selling 41,750 shares during the quarter. Gentex accounts for about 1.8% of Disciplined Growth Investors Inc. MN’s investment portfolio, making the stock its 19th biggest holding. Disciplined Growth Investors Inc. MN owned 1.51% of Gentex worth $85,141,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Alps Advisors Inc. grew its stake in shares of Gentex by 0.3% in the second quarter. Alps Advisors Inc. now owns 21,945 shares of the auto parts company’s stock worth $416,000 after acquiring an additional 56 shares during the period. Synovus Financial Corp grew its stake in shares of Gentex by 2.8% in the second quarter. Synovus Financial Corp now owns 12,413 shares of the auto parts company’s stock worth $236,000 after acquiring an additional 336 shares during the period. Northwestern Mutual Investment Management Company LLC grew its stake in shares of Gentex by 0.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 49,864 shares of the auto parts company’s stock worth $770,000 after acquiring an additional 353 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Gentex by 7.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,293 shares of the auto parts company’s stock worth $100,000 after acquiring an additional 368 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in shares of Gentex by 2.1% in the second quarter. Teacher Retirement System of Texas now owns 23,062 shares of the auto parts company’s stock worth $437,000 after acquiring an additional 469 shares during the period. Institutional investors and hedge funds own 81.84% of the company’s stock.

Shares of Gentex Corporation (GNTX) opened at $20.44 on Monday. The stock has a market cap of $5,802.98, a P/E ratio of 16.22, a P/E/G ratio of 1.66 and a beta of 1.21. Gentex Corporation has a 12-month low of $16.59 and a 12-month high of $22.12.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, October 20th. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The company had revenue of $438.63 million during the quarter, compared to analyst estimates of $452.42 million. Gentex had a net margin of 20.80% and a return on equity of 18.45%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 earnings per share. equities analysts forecast that Gentex Corporation will post 1.27 EPS for the current fiscal year.

Gentex declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 23rd that permits the company to buyback 15,000,000 outstanding shares. This buyback authorization permits the auto parts company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Investors of record on Friday, January 5th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.40 annualized dividend and a yield of 1.96%. Gentex’s dividend payout ratio (DPR) is 31.75%.

In other Gentex news, insider Kevin C. Nash sold 4,320 shares of Gentex stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $19.70, for a total transaction of $85,104.00. Following the transaction, the insider now owns 30,732 shares of the company’s stock, valued at $605,420.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven R. Downing sold 8,000 shares of Gentex stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $19.70, for a total transaction of $157,600.00. Following the transaction, the chief financial officer now directly owns 47,362 shares in the company, valued at approximately $933,031.40. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

A number of analysts have recently commented on the stock. B. Riley reiterated a “buy” rating on shares of Gentex in a research note on Wednesday, November 1st. Zacks Investment Research upgraded shares of Gentex from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Robert W. Baird reduced their price target on shares of Gentex from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Monday, October 23rd. FBR & Co reiterated a “buy” rating and issued a $25.00 price target on shares of Gentex in a research note on Wednesday, October 18th. Finally, KeyCorp reiterated a “buy” rating and issued a $25.00 price target on shares of Gentex in a research note on Sunday, October 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $22.06.

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Gentex 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.

Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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