Seven Eight Capital LP bought a new stake in shares of Gentex Co. (NASDAQ:GNTX) in the third quarter, HoldingsChannel reports. The fund bought 23,547 shares of the auto parts company’s stock, valued at approximately $505,000.
Several other institutional investors have also recently made changes to their positions in GNTX. Bruderman Asset Management LLC purchased a new stake in shares of Gentex in the second quarter valued at approximately $112,000. Fort L.P. purchased a new stake in shares of Gentex in the second quarter valued at approximately $115,000. MUFG Americas Holdings Corp grew its position in shares of Gentex by 61.9% in the second quarter. MUFG Americas Holdings Corp now owns 5,665 shares of the auto parts company’s stock valued at $130,000 after purchasing an additional 2,165 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Gentex in the second quarter valued at approximately $166,000. Finally, Suntrust Banks Inc. purchased a new stake in shares of Gentex in the first quarter valued at approximately $200,000. 85.79% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on the company. BMO Capital Markets dropped their price target on Gentex from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 22nd. ValuEngine upgraded Gentex from a “sell” rating to a “hold” rating in a research report on Monday, October 22nd. BidaskClub upgraded Gentex from a “hold” rating to a “buy” rating in a research report on Thursday, August 23rd. Robert W. Baird upped their price target on Gentex from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, October 22nd. Finally, Craig Hallum restated a “hold” rating and issued a $20.00 price target on shares of Gentex in a research report on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.50.
GNTX stock opened at $20.45 on Monday. The company has a market capitalization of $5.50 billion, a PE ratio of 15.98, a P/E/G ratio of 1.13 and a beta of 1.31. Gentex Co. has a 1 year low of $17.80 and a 1 year high of $25.41.
Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, October 19th. The auto parts company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $460.25 million during the quarter, compared to analyst estimates of $465.51 million. Gentex had a return on equity of 21.83% and a net margin of 25.11%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 earnings per share. As a group, sell-side analysts predict that Gentex Co. will post 1.64 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 17th. Investors of record on Friday, October 5th were given a $0.11 dividend. The ex-dividend date was Thursday, October 4th. This represents a $0.44 annualized dividend and a yield of 2.15%. Gentex’s payout ratio is 34.38%.
Gentex Company Profile
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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