Gentex Corp. (GNTX) Sets New 12-Month High at $18.25
Gentex Corp. (NASDAQ:GNTX) shares hit a new 52-week high during 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 research analysts have commented on the stock. Zacks Investment Research upgraded 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 report on Wednesday, July 27th. FBR & Co restated a “buy” rating on shares of Gentex Corp. in a research report on Saturday, June 18th.
The company has a market capitalization of $5.19 billion and a P/E ratio of 15.86. The stock has a 50-day moving average of $16.58 and a 200 day moving average of $15.70.
Gentex Corp. (NASDAQ:GNTX) last released its quarterly earnings data on Friday, July 22nd. The company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. During the same period last year, the business posted $0.26 earnings per share. The business earned $423.80 million during the quarter, compared to the consensus estimate of $416.99 million. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. Analysts predict that Gentex Corp. will post $1.20 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 20th. Shareholders of record on Thursday, July 7th were issued a $0.09 dividend. This is a boost from Gentex Corp.’s previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Tuesday, July 5th.
In other Gentex Corp. news, CEO Fred Bauer sold 266,300 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 6,591,628 shares of the company’s stock, valued at approximately $108,234,531.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Joseph E. Iv Matthews sold 2,140 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 17,510 shares of the company’s stock, valued at $288,915. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently made changes to their positions in the stock. Bernzott Capital Advisors increased its position in shares of Gentex Corp. by 20.7% in the fourth quarter. Bernzott Capital Advisors now owns 1,399,146 shares of the company’s stock valued at $22,400,000 after buying an additional 239,942 shares during the last quarter. Birch Hill Investment Advisors LLC increased its position in shares of Gentex Corp. by 0.4% in the fourth quarter. Birch Hill Investment Advisors LLC now owns 2,448,715 shares of the company’s stock valued at $39,204,000 after buying an additional 8,550 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Gentex Corp. by 73.3% in the fourth quarter. Advisors Asset Management Inc. now owns 97,092 shares of the company’s stock valued at $1,554,000 after buying an additional 41,075 shares during the last quarter. Suntrust Banks Inc. increased its position in shares of Gentex Corp. by 2.0% in the fourth quarter. Suntrust Banks Inc. now owns 102,740 shares of the company’s stock valued at $1,644,000 after buying an additional 1,966 shares during the last quarter. Finally, Schroder Investment Management Group increased its position 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 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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