SOA Wealth Advisors LLC. bought a new stake in shares of Gentex Co. (NASDAQ:GNTX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,204 shares of the auto parts company’s stock, valued at approximately $79,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. increased its holdings in Gentex by 1.7% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 149,220 shares of the auto parts company’s stock valued at $3,086,000 after acquiring an additional 2,536 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Gentex by 7.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 602,079 shares of the auto parts company’s stock worth $15,426,000 after buying an additional 39,386 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Gentex by 2.2% in the 3rd quarter. ProShare Advisors LLC now owns 17,189 shares of the auto parts company’s stock worth $443,000 after buying an additional 372 shares during the last quarter. Morgan Stanley increased its holdings in shares of Gentex by 31.6% in the 3rd quarter. Morgan Stanley now owns 658,040 shares of the auto parts company’s stock worth $16,944,000 after buying an additional 158,075 shares during the last quarter. Finally, Squarepoint Ops LLC increased its holdings in shares of Gentex by 539.5% in the 3rd quarter. Squarepoint Ops LLC now owns 75,430 shares of the auto parts company’s stock worth $1,942,000 after buying an additional 63,634 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.
GNTX has been the topic of a number of research reports. Seaport Global Securities initiated coverage on shares of Gentex in a report on Thursday, January 28th. They issued a “neutral” rating on the stock. Zacks Investment Research upgraded shares of Gentex from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Wednesday, February 3rd. KeyCorp upped their price target on shares of Gentex from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, January 25th. Finally, B. Riley upped their price target on shares of Gentex from $38.75 to $40.00 and gave the company a “buy” rating in a report on Monday, February 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. Gentex has a consensus rating of “Hold” and a consensus target price of $30.67.
Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Thursday, January 28th. The auto parts company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The business had revenue of $529.60 million for the quarter, compared to the consensus estimate of $482.66 million. Gentex had a return on equity of 16.59% and a net margin of 18.96%. The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 earnings per share. As a group, equities analysts anticipate that Gentex Co. will post 1.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 21st. Stockholders of record on Friday, April 9th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Thursday, April 8th. Gentex’s payout ratio is presently 28.92%.
In other news, Director John A. Mulder sold 7,000 shares of the company’s stock in a transaction on Thursday, February 4th. The stock was sold at an average price of $34.90, for a total transaction of $244,300.00. Following the transaction, the director now directly owns 41,365 shares of the company’s stock, valued at $1,443,638.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Steven R. Downing sold 6,300 shares of the company’s stock in a transaction on Monday, February 22nd. The stock was sold at an average price of $35.57, for a total value of $224,091.00. Following the transaction, the chief executive officer now directly owns 138,911 shares in the company, valued at $4,941,064.27. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,926 shares of company stock worth $1,559,307. Insiders own 0.37% of the company’s stock.
Gentex Corp. is a technology company, which engages in the design, development, and manufacture and supply of digital vision, connected car, dimmable glass, and fire protection products. The firm operates through Automotive Products and Other segments. The Automotive Products segment operates in virtually all of the foregoing facilities.
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