Gentex Co. (NASDAQ:GNTX) Shares Acquired by Raymond James & Associates

Raymond James & Associates grew its stake in Gentex Co. (NASDAQ:GNTXFree Report) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 563,518 shares of the auto parts company’s stock after buying an additional 2,234 shares during the period. Raymond James & Associates owned 0.24% of Gentex worth $18,404,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GNTX. Moneta Group Investment Advisors LLC boosted its holdings in shares of Gentex by 99,783.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,630,950 shares of the auto parts company’s stock valued at $235,366,000 after buying an additional 8,622,309 shares in the last quarter. Ariel Investments LLC boosted its stake in Gentex by 92.4% during the 1st quarter. Ariel Investments LLC now owns 8,174,011 shares of the auto parts company’s stock worth $238,436,000 after purchasing an additional 3,925,355 shares during the period. Wellington Management Group LLP boosted its stake in Gentex by 95.4% during the 3rd quarter. Wellington Management Group LLP now owns 6,823,022 shares of the auto parts company’s stock worth $222,021,000 after purchasing an additional 3,330,502 shares during the period. Morgan Stanley boosted its stake in Gentex by 147.7% during the 4th quarter. Morgan Stanley now owns 3,801,402 shares of the auto parts company’s stock worth $103,664,000 after purchasing an additional 2,266,973 shares during the period. Finally, Norges Bank acquired a new stake in Gentex during the 4th quarter worth $58,990,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Insider Activity

In other Gentex news, Director Richard O. Schaum sold 6,022 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $33.93, for a total transaction of $204,326.46. Following the completion of the transaction, the director now directly owns 62,555 shares in the company, valued at approximately $2,122,491.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Gentex news, Director Richard O. Schaum sold 6,022 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $33.93, for a total transaction of $204,326.46. Following the completion of the transaction, the director now directly owns 62,555 shares in the company, valued at approximately $2,122,491.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin C. Nash sold 13,500 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total transaction of $446,040.00. Following the transaction, the chief financial officer now owns 44,321 shares of the company’s stock, valued at $1,464,365.84. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GNTX shares. B. Riley increased their price target on shares of Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. The Goldman Sachs Group increased their price target on shares of Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. StockNews.com upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. increased their price target on shares of Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Finally, Guggenheim upped their price objective on shares of Gentex from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $37.67.

Check Out Our Latest Analysis on Gentex

Gentex Stock Performance

Shares of Gentex stock opened at $36.14 on Tuesday. The company has a market cap of $8.37 billion, a P/E ratio of 19.64, a PEG ratio of 0.97 and a beta of 0.99. Gentex Co. has a one year low of $25.85 and a one year high of $37.58. The firm has a fifty day moving average of $35.36 and a two-hundred day moving average of $32.71.

Gentex (NASDAQ:GNTXGet Free Report) last announced its quarterly earnings results on Friday, January 26th. The auto parts company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The business had revenue of $589.13 million during the quarter, compared to the consensus estimate of $563.42 million. Gentex had a net margin of 18.63% and a return on equity of 19.25%. The business’s revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 EPS. As a group, equities analysts predict that Gentex Co. will post 2.16 earnings per share for the current year.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Stockholders of record on Friday, April 5th will be issued a $0.12 dividend. The ex-dividend date is Thursday, April 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.33%. Gentex’s dividend payout ratio is presently 26.09%.

Gentex Company Profile

(Free Report)

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers 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, automotive suppliers, and various aftermarket and accessory customers.

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Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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