Boston Private Wealth LLC boosted its stake in Gentex Co. (NASDAQ:GNTX) by 2.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,421 shares of the auto parts company’s stock after purchasing an additional 570 shares during the quarter. Boston Private Wealth LLC’s holdings in Gentex were worth $871,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in GNTX. BlackRock Inc. lifted its position in Gentex by 5.9% during the first quarter. BlackRock Inc. now owns 23,018,117 shares of the auto parts company’s stock valued at $821,057,000 after buying an additional 1,272,311 shares in the last quarter. Maj Invest Holding A S lifted its position in shares of Gentex by 4.2% during the first quarter. Maj Invest Holding A S now owns 7,496,684 shares of the auto parts company’s stock worth $267,405,000 after purchasing an additional 304,377 shares in the last quarter. Boston Partners lifted its position in shares of Gentex by 8.8% during the first quarter. Boston Partners now owns 5,006,588 shares of the auto parts company’s stock worth $178,581,000 after purchasing an additional 405,036 shares in the last quarter. Credit Suisse AG lifted its position in shares of Gentex by 3.0% during the fourth quarter. Credit Suisse AG now owns 2,762,873 shares of the auto parts company’s stock worth $93,744,000 after purchasing an additional 80,340 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Gentex during the fourth quarter worth $83,547,000. Hedge funds and other institutional investors own 82.22% of the company’s stock.
In other Gentex news, CTO Neil Boehm sold 2,053 shares of the stock in a transaction that occurred on Wednesday, March 31st. The stock was sold at an average price of $35.66, for a total transaction of $73,209.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ling Zang sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 8th. The shares were sold at an average price of $34.34, for a total value of $343,400.00. Following the transaction, the director now owns 11,138 shares in the company, valued at approximately $382,478.92. The disclosure for this sale can be found here. Insiders have sold 28,405 shares of company stock valued at $995,906 in the last 90 days. Insiders own 0.38% of the company’s stock.
Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Thursday, April 22nd. The auto parts company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.03). The firm had revenue of $483.70 million for the quarter, compared to the consensus estimate of $498.37 million. Gentex had a return on equity of 19.81% and a net margin of 21.62%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 EPS. As a group, equities analysts predict that Gentex Co. will post 1.99 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 21st. Stockholders of record on Friday, July 9th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, July 8th. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. Gentex’s dividend payout ratio is currently 34.04%.
Separately, B. Riley upped their price target on shares of Gentex from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, April 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Gentex currently has an average rating of “Buy” and an average price target of $33.14.
Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.
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