Gentex Corporation (GNTX) Shares Sold by Birch Hill Investment Advisors LLC
Birch Hill Investment Advisors LLC decreased its position in Gentex Corporation (NASDAQ:GNTX) by 8.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,192,385 shares of the auto parts company’s stock after selling 196,071 shares during the period. Gentex makes up 3.8% of Birch Hill Investment Advisors LLC’s holdings, making the stock its 5th biggest holding. Birch Hill Investment Advisors LLC owned about 0.77% of Gentex worth $43,409,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in GNTX. Northwestern Mutual Wealth Management Co. increased its stake in Gentex by 7.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,293 shares of the auto parts company’s stock valued at $100,000 after purchasing an additional 368 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Gentex in the third quarter valued at $105,000. Ffcm LLC bought a new stake in Gentex in the third quarter valued at $174,000. Sheaff Brock Investment Advisors LLC bought a new stake in Gentex in the second quarter valued at $194,000. Finally, Verition Fund Management LLC bought a new stake in Gentex in the second quarter valued at $195,000. Institutional investors and hedge funds own 81.84% of the company’s stock.
Shares of Gentex Corporation (GNTX) opened at $20.44 on Monday. The company has a market cap of $5,802.98, a PE ratio of 16.22, a PEG ratio of 1.66 and a beta of 1.21. Gentex Corporation has a 52-week low of $16.59 and a 52-week high of $22.12.
Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, October 20th. The auto parts company reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. The company had revenue of $438.63 million during the quarter, compared to the consensus estimate of $452.42 million. Gentex had a net margin of 20.80% and a return on equity of 18.45%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 earnings per share. equities analysts anticipate that Gentex Corporation will post 1.27 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Friday, January 5th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, January 4th. Gentex’s payout ratio is presently 31.75%.
Gentex announced that its board has approved a stock repurchase program on Wednesday, August 23rd that allows the company to buyback 15,000,000 shares. This buyback authorization allows the auto parts company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
GNTX has been the subject of several research analyst reports. B. Riley reaffirmed a “buy” rating on shares of Gentex in a research note on Wednesday, November 1st. FBR & Co reaffirmed a “buy” rating and issued a $25.00 price target on shares of Gentex in a research note on Wednesday, October 18th. Zacks Investment Research raised shares of Gentex from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Tuesday, October 17th. KeyCorp reaffirmed a “buy” rating and issued a $25.00 price target on shares of Gentex in a research note on Sunday, October 15th. Finally, ValuEngine downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research note on Friday, September 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 company’s stock. Gentex currently has a consensus rating of “Hold” and an average price target of $22.06.
In other news, CFO Steven R. Downing sold 8,000 shares of the business’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $19.70, for a total transaction of $157,600.00. Following the completion of the sale, 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 legal filing with the SEC, which is available at this hyperlink. Also, insider Kevin C. Nash sold 4,320 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $19.70, for a total transaction of $85,104.00. Following the sale, 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. Insiders own 2.50% of the company’s stock.
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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