Birch Hill Investment Advisors LLC lessened its stake in Gentex Co. (NASDAQ:GNTX) by 8.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,192,385 shares of the auto parts company’s stock after selling 196,071 shares during the period. Gentex accounts for about 3.8% of Birch Hill Investment Advisors LLC’s portfolio, making the stock its 5th largest position. Birch Hill Investment Advisors LLC owned 0.77% of Gentex worth $43,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its position in Gentex by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,293 shares of the auto parts company’s stock worth $100,000 after buying an additional 368 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Gentex during the 3rd quarter worth approximately $105,000. Ffcm LLC purchased a new position in Gentex during the 3rd quarter worth approximately $174,000. HPM Partners LLC purchased a new position in Gentex during the 2nd quarter worth approximately $339,000. Finally, Sheaff Brock Investment Advisors LLC purchased a new position in Gentex during the 2nd quarter worth approximately $194,000. 81.72% of the stock is currently owned by institutional investors.
Shares of Gentex Co. (GNTX) traded up $0.18 during trading hours on Tuesday, reaching $21.13. 2,027,834 shares of the company’s stock were exchanged, compared to its average volume of 1,631,650. The stock has a market capitalization of $5,960.00, a price-to-earnings ratio of 16.77, a PEG ratio of 1.70 and a beta of 1.22. Gentex Co. has a one year low of $16.59 and a one year high of $22.12.
Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, October 20th. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.31. Gentex had a net margin of 20.80% and a return on equity of 18.45%. The company had revenue of $438.63 million for the quarter, compared to analyst estimates of $452.42 million. During the same period in the prior year, the firm earned $0.32 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. equities analysts predict that Gentex Co. will post 1.27 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Investors of record on Friday, January 5th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, January 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.89%. Gentex’s payout ratio is 31.75%.
Several equities analysts have recently weighed in on GNTX shares. Zacks Investment Research raised shares of Gentex from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. ValuEngine raised shares of Gentex from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. BidaskClub raised shares of Gentex from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. Robert W. Baird lowered their target price on shares of Gentex from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Monday, October 23rd. Finally, KeyCorp reissued a “buy” rating and set a $25.00 price target on shares of Gentex in a research report on Sunday, October 15th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $22.21.
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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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