Gentex Corporation (NASDAQ:GNTX - Get Free Report) Director Richard Schaum sold 4,815 shares of the company's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $23.31, for a total transaction of $112,237.65. Following the completion of the sale, the director directly owned 81,443 shares in the company, valued at $1,898,436.33. This represents a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Gentex Price Performance
NASDAQ:GNTX opened at $23.11 on Friday. The firm's 50-day moving average price is $22.25 and its 200-day moving average price is $23.28. The company has a market capitalization of $4.94 billion, a PE ratio of 12.98 and a beta of 0.77. Gentex Corporation has a 1-year low of $20.48 and a 1-year high of $29.38.
Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.04. The company had revenue of $675.44 million for the quarter, compared to analysts' expectations of $649.42 million. Gentex had a net margin of 14.75% and a return on equity of 16.27%. Gentex's revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS. Equities analysts anticipate that Gentex Corporation will post 1.92 EPS for the current fiscal year.
Gentex Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Wednesday, April 8th were paid a $0.12 dividend. The ex-dividend date was Wednesday, April 8th. This represents a $0.48 dividend on an annualized basis and a yield of 2.1%. Gentex's payout ratio is presently 26.97%.
Hedge Funds Weigh In On Gentex
Several institutional investors have recently made changes to their positions in GNTX. Bank of Montreal Can lifted its stake in shares of Gentex by 14,398.7% in the 4th quarter. Bank of Montreal Can now owns 7,726,057 shares of the auto parts company's stock worth $179,785,000 after purchasing an additional 7,672,769 shares during the period. Caisse de depot et placement du Quebec lifted its stake in shares of Gentex by 297.0% in the 4th quarter. Caisse de depot et placement du Quebec now owns 3,144,881 shares of the auto parts company's stock worth $73,181,000 after purchasing an additional 2,352,668 shares during the period. Norges Bank bought a new position in shares of Gentex in the 4th quarter worth approximately $52,767,000. Wellington Management Group LLP lifted its stake in shares of Gentex by 10.3% in the 3rd quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company's stock worth $419,636,000 after purchasing an additional 1,383,203 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Gentex by 25.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,629,380 shares of the auto parts company's stock worth $154,271,000 after purchasing an additional 1,349,445 shares during the period. Institutional investors own 86.76% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports on GNTX shares. Wall Street Zen upgraded shares of Gentex from a "hold" rating to a "buy" rating in a research note on Sunday, March 8th. Robert W. Baird upped their price target on shares of Gentex from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Monday. UBS Group set a $26.00 price target on shares of Gentex in a research note on Sunday. B. Riley Financial reiterated a "buy" rating and issued a $29.00 price target (up from $28.00) on shares of Gentex in a research note on Monday. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Gentex in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $26.67.
Check Out Our Latest Stock Report on GNTX
About Gentex
(
Get Free Report)
Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company's primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world's leading original equipment manufacturers (OEMs).
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