Gentex Corporation (GNTX) Shares Sold by Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado cut its position in shares of Gentex Corporation (NASDAQ:GNTX) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 60,346 shares of the auto parts company’s stock after selling 94 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Gentex Corporation were worth $1,145,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the stock. Asset Management One Co. Ltd. increased its stake in shares of Gentex Corporation by 11.4% in the first quarter. Asset Management One Co. Ltd. now owns 8,500 shares of the auto parts company’s stock worth $181,000 after buying an additional 870 shares in the last quarter. BB&T Corp purchased a new position in shares of Gentex Corporation during the first quarter worth approximately $200,000. Reynders McVeigh Capital Management LLC purchased a new position in shares of Gentex Corporation during the first quarter worth approximately $204,000. LVM Capital Management Ltd. MI purchased a new position in shares of Gentex Corporation during the second quarter worth approximately $194,000. Finally, Level Four Advisory Services LLC purchased a new position in shares of Gentex Corporation during the first quarter worth approximately $226,000. 81.46% of the stock is currently owned by hedge funds and other institutional investors.
Gentex Corporation (GNTX) opened at 17.69 on Tuesday. The stock has a 50 day moving average price of $17.97 and a 200-day moving average price of $19.64. The company has a market capitalization of $5.05 billion, a PE ratio of 14.04 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 announced its earnings results on Friday, July 21st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, missing the 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 last year, the firm posted $0.30 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. On average, equities analysts predict that Gentex Corporation will post $1.27 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 19th. Investors of record on Thursday, July 6th were given a $0.10 dividend. 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. This represents a $0.40 annualized dividend and a yield of 2.26%. Gentex Corporation’s payout ratio is 31.50%.
GNTX has been the subject of a number of research reports. Zacks Investment Research upgraded Gentex Corporation from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Wednesday, April 26th. Wellington Shields cut Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a research note on Thursday, May 4th. Craig Hallum cut Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 price target for the company. in a research note on Monday, July 24th. FBR & Co reiterated an “outperform” rating and issued a $25.00 price target on shares of Gentex Corporation in a research note on Monday, July 24th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $22.00 price target (down from $25.00) on shares of Gentex Corporation in a research note on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Gentex Corporation has an average rating of “Hold” and an average price target of $21.75.
In other Gentex Corporation news, Director John A. Mulder sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $19.22, for a total transaction of $192,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Fred Bauer sold 239,400 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $17.33, for a total transaction of $4,148,802.00. Following the sale, the chairman now owns 5,771,128 shares of the company’s stock, valued at $100,013,648.24. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.
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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