Gentex Corporation (NASDAQ:GNTX) Stake Reduced by Reliance Trust Co. of Delaware

Reliance Trust Co. of Delaware lowered its position in Gentex Corporation (NASDAQ:GNTX) by 0.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,892 shares of the auto parts company’s stock after selling 15 shares during the period. Reliance Trust Co. of Delaware’s holdings in Gentex Corporation were worth $226,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in GNTX. Quadrant Capital Group LLC boosted 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 valued at $117,000 after buying an additional 471 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of 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 during the period. BB&T Corp purchased a new position in shares of Gentex Corporation during the first quarter valued at approximately $200,000. Reynders McVeigh Capital Management LLC purchased a new position in shares of Gentex Corporation during the first quarter valued at approximately $204,000. Finally, LVM Capital Management Ltd. MI purchased a new position in shares of Gentex Corporation during the second quarter valued at approximately $194,000. 82.72% of the stock is owned by hedge funds and other institutional investors.

Shares of Gentex Corporation (GNTX) opened at 17.07 on Friday. Gentex Corporation has a 52 week low of $16.06 and a 52 week high of $22.12. The stock has a 50 day moving average price of $18.31 and a 200-day moving average price of $19.88. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 13.55 and a beta of 1.18.

Gentex Corporation (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, July 21st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by $0.01. Gentex Corporation had a net margin of 21.01% and a return on equity of 18.95%. The business had revenue of $443.10 million for the quarter, compared to analysts’ expectations of $446.36 million. During the same quarter in the prior year, the firm earned $0.30 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities research analysts forecast that Gentex Corporation will post $1.28 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 19th. Shareholders of record on Thursday, July 6th were issued a dividend of $0.10 per share. This is an increase from Gentex Corporation’s previous quarterly dividend of $0.09. The ex-dividend date was Monday, July 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.34%. Gentex Corporation’s dividend payout ratio is 31.50%.

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Several research analysts recently commented on the company. BidaskClub cut Gentex Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $22.00 target price (down from $25.00) on shares of Gentex Corporation in a research report on Monday, July 24th. FBR & Co reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Gentex Corporation in a research report on Monday, July 24th. Craig Hallum cut Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a research report on Monday, July 24th. Finally, Zacks Investment Research cut Gentex Corporation from a “hold” rating to a “sell” rating in a research report on Monday, June 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Gentex Corporation currently has an average rating of “Hold” and a consensus target price of $21.75.

In other Gentex Corporation news, Director John A. Mulder sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $19.22, for a total transaction of $192,200.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.50% of the stock is currently owned by corporate insiders.

About Gentex Corporation

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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