Gentex Co. (GNTX) Shares Sold by Lord Abbett & CO. LLC
Lord Abbett & CO. LLC lessened its stake in Gentex Co. (NASDAQ:GNTX) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,600,600 shares of the auto parts company’s stock after selling 69,000 shares during the period. Lord Abbett & CO. LLC owned 0.61% of Gentex worth $32,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bremer Trust National Association acquired a new position in Gentex in the fourth quarter valued at $25,000. Patriot Financial Group Insurance Agency LLC acquired a new position in Gentex in the fourth quarter valued at $27,000. Lindbrook Capital LLC acquired a new position in Gentex in the fourth quarter valued at $32,000. Enlightenment Research LLC acquired a new position in Gentex in the fourth quarter valued at $36,000. Finally, Parallel Advisors LLC boosted its stake in Gentex by 728.0% in the fourth quarter. Parallel Advisors LLC now owns 2,310 shares of the auto parts company’s stock valued at $46,000 after acquiring an additional 2,031 shares in the last quarter. Institutional investors own 82.46% of the company’s stock.
Several equities analysts have issued reports on GNTX shares. BidaskClub upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research note on Saturday, January 12th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $23.00 target price on shares of Gentex in a report on Monday, February 4th. KeyCorp initiated coverage on shares of Gentex in a report on Monday, December 10th. They issued a “sector weight” rating for the company. ValuEngine cut shares of Gentex from a “hold” rating to a “sell” rating in a report on Thursday, February 14th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Gentex in a report on Wednesday, January 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Gentex currently has a consensus rating of “Hold” and an average target price of $22.46.
Shares of NASDAQ:GNTX opened at $20.83 on Friday. Gentex Co. has a one year low of $17.80 and a one year high of $25.41. The stock has a market capitalization of $5.40 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 1.51 and a beta of 1.11.
Gentex (NASDAQ:GNTX) last announced its earnings results on Wednesday, January 30th. The auto parts company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Gentex had a net margin of 23.88% and a return on equity of 23.06%. The business had revenue of $453.40 million during the quarter, compared to analysts’ expectations of $477.41 million. During the same period in the previous year, the company posted $0.46 earnings per share. Gentex’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Gentex Co. will post 1.62 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.21%. This is a boost from Gentex’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, April 9th. Gentex’s dividend payout ratio is presently 27.16%.
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Gentex Corporation provides automatic-dimming and non-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 worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.
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