Suntrust Banks Inc. lowered its position in shares of Gentex Co. (NASDAQ:GNTX) by 38.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,462 shares of the auto parts company’s stock after selling 36,668 shares during the period. Suntrust Banks Inc.’s holdings in Gentex were worth $1,246,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in Gentex by 3.7% in the first quarter. Bank of New York Mellon Corp now owns 4,070,220 shares of the auto parts company’s stock worth $86,817,000 after buying an additional 145,338 shares during the last quarter. Elkfork Partners LLC boosted its stake in shares of Gentex by 111.3% in the first quarter. Elkfork Partners LLC now owns 33,012 shares of the auto parts company’s stock valued at $704,000 after buying an additional 17,388 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in shares of Gentex by 29.6% in the first quarter. Eqis Capital Management Inc. now owns 27,820 shares of the auto parts company’s stock valued at $593,000 after buying an additional 6,354 shares in the last quarter. Hussman Strategic Advisors Inc. boosted its stake in shares of Gentex by 3,076.9% in the first quarter. Hussman Strategic Advisors Inc. now owns 206,500 shares of the auto parts company’s stock valued at $4,405,000 after buying an additional 200,000 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Gentex by 3.4% in the first quarter. Great West Life Assurance Co. Can now owns 236,983 shares of the auto parts company’s stock valued at $5,051,000 after buying an additional 7,790 shares in the last quarter. 83.86% of the stock is owned by institutional investors and hedge funds.
Gentex Co. (NASDAQ GNTX) opened at 18.92 on Tuesday. The company has a 50-day moving average of $19.73 and a 200-day moving average of $20.26. Gentex Co. has a 52-week low of $14.66 and a 52-week high of $22.12. The company has a market cap of $5.44 billion, a P/E ratio of 15.26 and a beta of 0.96.
Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, April 21st. The auto parts company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. The firm had revenue of $453.54 million during the quarter, compared to analyst estimates of $444.92 million. Gentex had a return on equity of 19.05% and a net margin of 20.70%. Gentex’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 EPS. On average, equities research analysts expect that Gentex Co. will post $1.31 earnings per share for the current fiscal year. The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 19th. Stockholders of record on Thursday, July 6th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Monday, July 3rd. This is a positive change from Gentex’s previous quarterly dividend of $0.09. Gentex’s payout ratio is currently 29.75%.
Several analysts have recently commented on the stock. Zacks Investment Research cut shares of Gentex from a “hold” rating to a “sell” rating in a research note on Thursday, March 30th. BMO Capital Markets restated a “positive” rating and issued a $25.00 price objective on shares of Gentex in a report on Friday, March 24th. Finally, Wellington Shields lowered shares of Gentex from a “gradually accumulate” rating to a “hold” rating in a report on Thursday, May 4th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $23.10. In other Gentex news, Director John A. Mulder sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $19.22, for a total value of $192,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joseph E. Iv Matthews sold 9,996 shares of the business’s stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $20.31, for a total value of $203,018.76. Following the completion of the transaction, the vice president now directly owns 20,100 shares of the company’s stock, valued at approximately $408,231. The disclosure for this sale can be found here. In the last three months, insiders sold 55,610 shares of company stock valued at $1,139,229. 2.90% of the stock is owned by insiders.
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