Cambridge Investment Research Advisors Inc. lessened its stake in shares of Gentex Co. (NASDAQ:GNTX – Get Rating) by 11.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,560 shares of the auto parts company's stock after selling 7,916 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Gentex were worth $1,694,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Riverbridge Partners LLC lifted its stake in Gentex by 1.6% in the second quarter. Riverbridge Partners LLC now owns 1,522,442 shares of the auto parts company's stock worth $42,583,000 after acquiring an additional 24,099 shares during the period. Touchstone Capital Inc. raised its holdings in Gentex by 2.8% in the second quarter. Touchstone Capital Inc. now owns 259,395 shares of the auto parts company's stock worth $7,255,000 after purchasing an additional 7,055 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Gentex by 3.6% in the second quarter. State of Alaska Department of Revenue now owns 64,696 shares of the auto parts company's stock worth $1,808,000 after purchasing an additional 2,227 shares in the last quarter. Toroso Investments LLC raised its holdings in Gentex by 42.9% in the first quarter. Toroso Investments LLC now owns 16,763 shares of the auto parts company's stock worth $489,000 after purchasing an additional 5,036 shares in the last quarter. Finally, Gabelli Funds LLC raised its holdings in Gentex by 4.3% in the first quarter. Gabelli Funds LLC now owns 120,000 shares of the auto parts company's stock worth $3,500,000 after purchasing an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 86.54% of the company's stock.
Get Gentex alerts:Gentex Price Performance
Gentex stock opened at $23.84 on Friday. Gentex Co. has a one year low of $23.70 and a one year high of $37.90. The stock has a market capitalization of $5.61 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.18 and a beta of 0.88. The business's fifty day moving average is $27.19 and its 200 day moving average is $28.34.
Gentex (NASDAQ:GNTX – Get Rating) last announced its earnings results on Friday, July 22nd. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.07). The firm had revenue of $463.42 million during the quarter, compared to analysts' expectations of $472.24 million. Gentex had a return on equity of 16.58% and a net margin of 18.32%. As a group, sell-side analysts expect that Gentex Co. will post 1.48 EPS for the current fiscal year.Gentex Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Friday, October 7th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, October 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.01%. Gentex's payout ratio is currently 35.56%.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. B. Riley decreased their price objective on Gentex from $37.50 to $35.00 and set a "buy" rating for the company in a report on Monday, July 25th. Bank of America reduced their price target on Gentex from $31.00 to $30.00 in a report on Friday, September 9th. StockNews.com downgraded Gentex from a "buy" rating to a "hold" rating in a report on Saturday, August 6th. Seaport Res Ptn restated a "buy" rating on shares of Gentex in a report on Sunday, July 31st. Finally, TheStreet cut Gentex from a "b-" rating to a "c" rating in a research report on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $31.40.
Gentex Company Profile
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Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.
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