BlackRock Inc. reduced its stake in Gentex Co. (NASDAQ:GNTX) by 1.0% during the third quarter, HoldingsChannel.com reports. The fund owned 24,049,756 shares of the auto parts company’s stock after selling 241,297 shares during the period. BlackRock Inc. owned approximately 0.09% of Gentex worth $516,108,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. Bruderman Asset Management LLC bought a new stake in Gentex in the second quarter worth approximately $112,000. Fort L.P. bought a new stake in Gentex in the second quarter worth approximately $115,000. MUFG Americas Holdings Corp increased its holdings in Gentex by 61.9% in the second quarter. MUFG Americas Holdings Corp now owns 5,665 shares of the auto parts company’s stock worth $130,000 after purchasing an additional 2,165 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in Gentex in the second quarter worth approximately $166,000. Finally, GAM Holding AG bought a new stake in Gentex in the second quarter worth approximately $218,000. 85.83% of the stock is currently owned by institutional investors.
GNTX has been the subject of a number of research analyst reports. ValuEngine upgraded Gentex from a “sell” rating to a “hold” rating in a report on Monday, October 22nd. Craig Hallum reiterated a “hold” rating and issued a $20.00 target price on shares of Gentex in a report on Friday, October 19th. Zacks Investment Research downgraded Gentex from a “hold” rating to a “sell” rating in a report on Tuesday, September 18th. BidaskClub downgraded Gentex from a “buy” rating to a “hold” rating in a report on Wednesday, September 5th. Finally, Longbow Research set a $28.00 target price on Gentex and gave the stock a “buy” rating in a report on Friday, August 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $24.44.
NASDAQ GNTX opened at $21.01 on Friday. The company has a market cap of $5.76 billion, a PE ratio of 16.41, a PEG ratio of 1.19 and a beta of 1.14. Gentex Co. has a 52 week low of $17.80 and a 52 week high of $25.41.
Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, October 19th. The auto parts company reported $0.42 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. The firm had revenue of $460.25 million during the quarter, compared to the consensus estimate of $465.51 million. Gentex had a return on equity of 21.83% and a net margin of 25.11%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.31 earnings per share. On average, sell-side analysts expect that Gentex Co. will post 1.65 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 23rd. Stockholders of record on Wednesday, January 9th will be issued a dividend of $0.11 per share. The ex-dividend date is Tuesday, January 8th. This represents a $0.44 annualized dividend and a dividend yield of 2.09%. Gentex’s dividend payout ratio is 34.38%.
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Gentex Corporation provides automatic-dimming and non-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 worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features 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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