Gentex Corp. (GNTX) Sets New 52-Week High at $18.25
Shares of Gentex Corp. (NASDAQ:GNTX) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $18.25 and last traded at $18.08, with a volume of 449,971 shares trading hands. The stock had previously closed at $18.19.
Several analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Gentex Corp. from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Wednesday, July 27th. FBR & Co reaffirmed an “outperform” rating and set a $20.00 price target on shares of Gentex Corp. in a research report on Friday, April 22nd.
The firm has a market capitalization of $5.19 billion and a PE ratio of 15.87. The firm has a 50 day moving average price of $16.53 and a 200 day moving average price of $15.67.
Gentex Corp. (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, July 22nd. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The firm earned $423.80 million during the quarter, compared to analysts’ expectations of $416.99 million. During the same quarter last year, the company posted $0.26 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. Equities analysts anticipate that Gentex Corp. will post $1.20 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 20th. Investors of record on Thursday, July 7th were given a $0.09 dividend. The ex-dividend date was Tuesday, July 5th. This represents a $0.36 annualized dividend and a dividend yield of 1.98%. This is an increase from Gentex Corp.’s previous quarterly dividend of $0.09.
In related news, CEO Fred Bauer sold 266,300 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $16.42, for a total value of $4,372,646.00. Following the completion of the sale, the chief executive officer now owns 6,591,628 shares in the company, valued at approximately $108,234,531.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Joseph E. Iv Matthews sold 2,140 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $16.50, for a total transaction of $35,310.00. Following the completion of the sale, the vice president now owns 17,510 shares of the company’s stock, valued at approximately $288,915. The disclosure for this sale can be found here.
Several large investors have recently modified their holdings of GNTX. Schroder Investment Management Group increased its stake in shares of Gentex Corp. by 77.2% in the fourth quarter. Schroder Investment Management Group now owns 2,594,488 shares of the company’s stock valued at $41,538,000 after buying an additional 1,130,270 shares during the period. Vanguard Group Inc. increased its stake in Gentex Corp. by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 19,836,674 shares of the company’s stock worth $317,584,000 after buying an additional 1,085,658 shares during the last quarter. Bernzott Capital Advisors increased its stake in Gentex Corp. by 20.7% in the fourth quarter. Bernzott Capital Advisors now owns 1,399,146 shares of the company’s stock worth $22,400,000 after buying an additional 239,942 shares during the last quarter. Bank of Montreal Can increased its stake in Gentex Corp. by 1,416.2% in the fourth quarter. Bank of Montreal Can now owns 74,915 shares of the company’s stock worth $1,199,000 after buying an additional 69,974 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Gentex Corp. by 1.6% in the fourth quarter. Wells Fargo & Company MN now owns 3,459,668 shares of the company’s stock worth $55,389,000 after buying an additional 55,672 shares during the last quarter.
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 segments include Automotive Products and Other, which includes Fire Protection Products and Dimmable Aircraft Windows.
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