Eagle Asset Management Inc. Has $2.42 Million Stock Holdings in Gentex Co. (NASDAQ:GNTX)

Eagle Asset Management Inc. trimmed its holdings in Gentex Co. (NASDAQ:GNTX) by 5.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 73,106 shares of the auto parts company’s stock after selling 4,171 shares during the quarter. Eagle Asset Management Inc.’s holdings in Gentex were worth $2,419,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Cigna Investments Inc. New grew its position in Gentex by 3.3% in the first quarter. Cigna Investments Inc. New now owns 8,786 shares of the auto parts company’s stock worth $314,000 after acquiring an additional 283 shares in the last quarter. Avantax Advisory Services Inc. grew its position in Gentex by 3.9% in the first quarter. Avantax Advisory Services Inc. now owns 9,402 shares of the auto parts company’s stock worth $336,000 after acquiring an additional 354 shares in the last quarter. Brown Advisory Inc. grew its position in Gentex by 5.4% in the first quarter. Brown Advisory Inc. now owns 6,980 shares of the auto parts company’s stock worth $249,000 after acquiring an additional 357 shares in the last quarter. Tealwood Asset Management Inc. grew its position in Gentex by 0.9% in the first quarter. Tealwood Asset Management Inc. now owns 40,369 shares of the auto parts company’s stock worth $1,440,000 after acquiring an additional 379 shares in the last quarter. Finally, Blair William & Co. IL grew its position in Gentex by 5.4% in the first quarter. Blair William & Co. IL now owns 7,467 shares of the auto parts company’s stock worth $266,000 after acquiring an additional 385 shares in the last quarter. 81.67% of the stock is owned by institutional investors.

GNTX has been the subject of several recent research reports. Seaport Global Securities raised shares of Gentex from a “neutral” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Monday, July 26th. KeyCorp decreased their price objective on shares of Gentex from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 26th. Zacks Investment Research raised shares of Gentex from a “sell” rating to a “hold” rating and set a $34.00 price objective for the company in a report on Tuesday, July 27th. Seaport Res Ptn raised shares of Gentex from a “neutral” rating to a “buy” rating in a report on Monday, July 26th. Finally, B. Riley reaffirmed a “buy” rating and set a $32.25 price objective (down from $45.00) on shares of Gentex in a report on Monday, July 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $31.53.

Shares of Gentex stock opened at $33.20 on Friday. Gentex Co. has a fifty-two week low of $25.14 and a fifty-two week high of $37.75. The firm has a fifty day moving average price of $32.09 and a two-hundred day moving average price of $33.79. The company has a market cap of $7.93 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.61 and a beta of 1.03.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Thursday, July 22nd. The auto parts company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.07). Gentex had a net margin of 24.03% and a return on equity of 23.80%. The company had revenue of $428.00 million during the quarter, compared to the consensus estimate of $458.02 million. During the same period last year, the company earned $0.02 earnings per share. Gentex’s revenue for the quarter was up 86.2% on a year-over-year basis. As a group, analysts forecast that Gentex Co. will post 1.85 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 21st. Stockholders of record on Friday, October 8th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, October 7th. Gentex’s dividend payout ratio is 34.04%.

In other news, Director John A. Mulder sold 7,000 shares of the stock in a transaction on Tuesday, July 27th. The shares were sold at an average price of $32.65, for a total value of $228,550.00. Following the completion of the transaction, the director now owns 41,365 shares in the company, valued at approximately $1,350,567.25. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.38% of the company’s stock.

Gentex Company Profile

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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Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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