Gentex Corporation (GNTX) Position Lifted by FDx Advisors Inc.
FDx Advisors Inc. increased its holdings in Gentex Corporation (NASDAQ:GNTX) by 15.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 85,407 shares of the auto parts company’s stock after acquiring an additional 11,275 shares during the quarter. FDx Advisors Inc.’s holdings in Gentex Corporation were worth $1,691,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. OppenheimerFunds Inc. increased its holdings in Gentex Corporation by 10.2% in the first quarter. OppenheimerFunds Inc. now owns 18,953 shares of the auto parts company’s stock valued at $404,000 after buying an additional 1,751 shares during the last quarter. Teachers Advisors LLC increased its holdings in Gentex Corporation by 46.5% in the first quarter. Teachers Advisors LLC now owns 575,274 shares of the auto parts company’s stock valued at $12,271,000 after buying an additional 182,518 shares during the last quarter. Janus Capital Management LLC increased its holdings in Gentex Corporation by 72.0% in the first quarter. Janus Capital Management LLC now owns 149,902 shares of the auto parts company’s stock valued at $3,198,000 after buying an additional 62,775 shares during the last quarter. Gateway Investment Advisers LLC increased its holdings in Gentex Corporation by 0.4% in the second quarter. Gateway Investment Advisers LLC now owns 93,609 shares of the auto parts company’s stock valued at $1,776,000 after buying an additional 388 shares during the last quarter. Finally, Creative Planning increased its holdings in Gentex Corporation by 35.1% in the second quarter. Creative Planning now owns 21,559 shares of the auto parts company’s stock valued at $409,000 after buying an additional 5,605 shares during the last quarter. Institutional investors and hedge funds own 80.83% of the company’s stock.
GNTX has been the subject of several research analyst reports. Zacks Investment Research lowered Gentex Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. BidaskClub raised Gentex Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Robert W. Baird lowered their price objective on Gentex Corporation from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Monday, October 23rd. FBR & Co reissued a “buy” rating and issued a $25.00 price objective on shares of Gentex Corporation in a report on Wednesday, October 18th. Finally, B. Riley reissued a “buy” rating on shares of Gentex Corporation in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $22.06.
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Gentex Corporation (NASDAQ GNTX) opened at $18.73 on Tuesday. The company has a market capitalization of $5,300.46, a P/E ratio of 14.82, a PEG ratio of 1.52 and a beta of 1.20. Gentex Corporation has a fifty-two week low of $16.59 and a fifty-two week high of $22.12.
Gentex Corporation (NASDAQ:GNTX) last posted its earnings results on Friday, October 20th. The auto parts company reported $0.31 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.31. The company had revenue of $438.63 million during the quarter, compared to analyst estimates of $452.42 million. Gentex Corporation had a return on equity of 18.45% and a net margin of 20.80%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 earnings per share. sell-side analysts predict that Gentex Corporation will post 1.27 EPS for the current fiscal year.
Gentex Corporation declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 23rd that allows the company to repurchase 15,000,000 shares. This repurchase authorization allows the auto parts company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 18th. Stockholders of record on Friday, October 6th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Thursday, October 5th. Gentex Corporation’s dividend payout ratio (DPR) is presently 31.75%.
In other news, CFO Steven R. Downing sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $19.70, for a total transaction of $157,600.00. Following the completion of the transaction, the chief financial officer now directly owns 47,362 shares of the company’s stock, valued at $933,031.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kevin C. Nash sold 4,320 shares of the stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $19.70, for a total value of $85,104.00. Following the completion of the transaction, the insider now directly owns 30,732 shares of the company’s stock, valued at $605,420.40. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.
Gentex Corporation Company Profile
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 business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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