Country Trust Bank lessened its position in Gentex Co. (NASDAQ:GNTX) by 11.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,007,750 shares of the auto parts company’s stock after selling 133,441 shares during the quarter. Country Trust Bank owned approximately 0.39% of Gentex worth $20,840,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in GNTX. Bremer Trust National Association bought a new position in Gentex in the fourth quarter valued at approximately $25,000. Patriot Financial Group Insurance Agency LLC bought a new position in Gentex in the fourth quarter valued at approximately $27,000. Lindbrook Capital LLC bought a new position in Gentex in the fourth quarter valued at approximately $32,000. Dubuque Bank & Trust Co. bought a new position in Gentex in the first quarter valued at approximately $33,000. Finally, Enlightenment Research LLC bought a new position in Gentex in the fourth quarter valued at approximately $36,000. 85.18% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on the company. Zacks Investment Research upgraded Gentex from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Monday, December 31st. BMO Capital Markets decreased their price target on Gentex from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, April 2nd. BidaskClub downgraded Gentex from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. ValuEngine upgraded Gentex from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Wells Fargo & Co restated a “buy” rating on shares of Gentex in a research note on Wednesday, January 30th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $22.58.
Shares of NASDAQ GNTX traded up $0.14 during midday trading on Wednesday, hitting $22.07. 17,777 shares of the company’s stock were exchanged, compared to its average volume of 1,348,579. Gentex Co. has a 12 month low of $17.80 and a 12 month high of $25.41. The company has a market capitalization of $5.66 billion, a P/E ratio of 13.62, a P/E/G ratio of 2.23 and a beta of 1.11.
Gentex (NASDAQ:GNTX) last issued its earnings results on Wednesday, January 30th. The auto parts company reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.02). Gentex had a return on equity of 23.06% and a net margin of 23.88%. The business had revenue of $453.40 million for the quarter, compared to the consensus estimate of $477.41 million. During the same quarter in the prior year, the firm posted $0.46 earnings per share. The business’s revenue was down 1.3% compared to the same quarter last year. On average, equities analysts predict that Gentex Co. will post 1.62 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.115 per share. This is an increase from Gentex’s previous quarterly dividend of $0.11. This represents a $0.46 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Tuesday, April 9th. Gentex’s payout ratio is currently 28.40%.
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Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.
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