Huntington National Bank cut its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,922 shares of the auto parts company’s stock after selling 59 shares during the period. Huntington National Bank’s holdings in Gentex Corporation were worth $359,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in GNTX. Quadrant Capital Group LLC increased its stake in Gentex Corporation by 9.1% in the first quarter. Quadrant Capital Group LLC now owns 5,660 shares of the auto parts company’s stock worth $117,000 after buying an additional 471 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Gentex Corporation by 11.4% in the first quarter. Asset Management One Co. Ltd. now owns 8,500 shares of the auto parts company’s stock valued at $181,000 after buying an additional 870 shares in the last quarter. LVM Capital Management Ltd. MI acquired a new stake in Gentex Corporation during the second quarter valued at approximately $194,000. BB&T Corp acquired a new stake in Gentex Corporation during the first quarter valued at approximately $200,000. Finally, Reynders McVeigh Capital Management LLC acquired a new stake in Gentex Corporation during the first quarter valued at approximately $204,000. 81.46% of the stock is currently owned by hedge funds and other institutional investors.
Gentex Corporation (GNTX) opened at 17.43 on Thursday. Gentex Corporation has a one year low of $16.06 and a one year high of $22.12. The stock has a market capitalization of $4.98 billion, a P/E ratio of 13.83 and a beta of 1.18. The company has a 50 day moving average of $17.90 and a 200-day moving average of $19.60.
Gentex Corporation (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, July 21st. The auto parts company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by $0.01. Gentex Corporation had a net margin of 21.01% and a return on equity of 18.95%. The company had revenue of $443.10 million during the quarter, compared to analyst estimates of $446.36 million. During the same period in the prior year, the business posted $0.30 EPS. Gentex Corporation’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities research analysts predict that Gentex Corporation will post $1.27 earnings per share for the current fiscal year.
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Several research analysts have issued reports on GNTX shares. Zacks Investment Research upgraded shares of Gentex Corporation from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Wednesday, April 26th. Wellington Shields lowered shares of Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a report on Thursday, May 4th. Craig Hallum lowered shares of Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research note on Monday, July 24th. BMO Capital Markets reiterated an “outperform” rating and issued a $22.00 price objective (down previously from $25.00) on shares of Gentex Corporation in a research note on Monday, July 24th. Finally, FBR & Co reiterated an “outperform” rating and issued a $25.00 price objective on shares of Gentex Corporation in a research note on Monday, July 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Gentex Corporation has an average rating of “Hold” and an average target price of $21.75.
In other Gentex Corporation news, Chairman Fred Bauer sold 239,400 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $17.33, for a total transaction of $4,148,802.00. Following the completion of the sale, the chairman now owns 5,771,128 shares of the company’s stock, valued at $100,013,648.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John A. Mulder sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $19.22, for a total value of $192,200.00. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.
Gentex Corporation Company Profile
Gentex Corporation designs and manufactures automatic-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. The Company’s business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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