Birch Hill Investment Advisors LLC cut its stake in Gentex Co. (NASDAQ:GNTX) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,708,239 shares of the auto parts company’s stock after selling 53,470 shares during the quarter. Gentex makes up approximately 3.4% of Birch Hill Investment Advisors LLC’s investment portfolio, making the stock its 9th largest holding. Birch Hill Investment Advisors LLC owned approximately 0.67% of Gentex worth $47,036,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Carroll Financial Associates Inc. increased its position in Gentex by 159.1% during the second quarter. Carroll Financial Associates Inc. now owns 1,285 shares of the auto parts company’s stock worth $31,000 after acquiring an additional 789 shares during the period. Capital Bank & Trust Co bought a new position in Gentex in the 2nd quarter valued at about $49,000. Hikari Tsushin Inc. bought a new position in Gentex in the 2nd quarter valued at about $50,000. Parallel Advisors LLC increased its holdings in Gentex by 64.3% in the 2nd quarter. Parallel Advisors LLC now owns 4,695 shares of the auto parts company’s stock valued at $116,000 after buying an additional 1,838 shares during the period. Finally, Captrust Financial Advisors increased its holdings in Gentex by 26.1% in the 2nd quarter. Captrust Financial Advisors now owns 4,919 shares of the auto parts company’s stock valued at $121,000 after buying an additional 1,019 shares during the period. 80.91% of the stock is currently owned by institutional investors.
Several research firms have commented on GNTX. Longbow Research reissued a “hold” rating on shares of Gentex in a report on Sunday, July 7th. BidaskClub raised shares of Gentex from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. ValuEngine lowered shares of Gentex from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Zacks Investment Research raised shares of Gentex from a “sell” rating to a “hold” rating and set a $27.00 target price on the stock in a report on Wednesday, October 9th. Finally, B. Riley set a $29.00 target price on shares of Gentex and gave the company a “buy” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Gentex currently has a consensus rating of “Hold” and a consensus target price of $24.21.
NASDAQ:GNTX traded up $0.03 during mid-day trading on Thursday, hitting $27.61. 64,721 shares of the company’s stock were exchanged, compared to its average volume of 1,459,384. The company has a 50 day simple moving average of $27.07 and a 200-day simple moving average of $24.65. Gentex Co. has a fifty-two week low of $17.80 and a fifty-two week high of $28.43. The firm has a market capitalization of $6.71 billion, a P/E ratio of 17.07, a PEG ratio of 3.13 and a beta of 1.22.
Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, July 19th. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.02. The firm had revenue of $468.71 million for the quarter, compared to the consensus estimate of $462.65 million. Gentex had a net margin of 23.28% and a return on equity of 23.08%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 EPS. On average, analysts forecast that Gentex Co. will post 1.68 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $0.46 annualized dividend and a dividend yield of 1.67%. Gentex’s dividend payout ratio is currently 28.40%.
In other news, SVP Roger Perry Campbell sold 1,500 shares of Gentex stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $88.92, for a total value of $133,380.00. Also, Director James A. Hollars sold 14,000 shares of Gentex stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $25.32, for a total transaction of $354,480.00. Following the completion of the sale, the director now owns 51,707 shares of the company’s stock, valued at approximately $1,309,221.24. The disclosure for this sale can be found here. Insiders sold a total of 64,043 shares of company stock valued at $1,775,639 in the last quarter. 0.37% of the stock is currently owned by company insiders.
Gentex Company Profile
Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.
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