Royce & Associates LP decreased its position in Gentex Co. (NASDAQ:GNTX) by 10.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,108,807 shares of the auto parts company’s stock after selling 488,285 shares during the period. Gentex accounts for about 0.6% of Royce & Associates LP’s investment portfolio, making the stock its 25th biggest position. Royce & Associates LP owned approximately 1.45% of Gentex worth $86,080,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in GNTX. Wedge Capital Management L L P NC purchased a new stake in shares of Gentex in the third quarter valued at approximately $20,369,000. Riverbridge Partners LLC boosted its holdings in shares of Gentex by 12.6% in the third quarter. Riverbridge Partners LLC now owns 5,273,063 shares of the auto parts company’s stock valued at $104,407,000 after purchasing an additional 592,011 shares during the period. Claar Advisors LLC purchased a new stake in shares of Gentex in the third quarter valued at approximately $9,900,000. Sei Investments Co. boosted its holdings in shares of Gentex by 7,916.2% in the third quarter. Sei Investments Co. now owns 422,054 shares of the auto parts company’s stock valued at $8,357,000 after purchasing an additional 416,789 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Gentex by 8.7% in the third quarter. Dimensional Fund Advisors LP now owns 4,737,248 shares of the auto parts company’s stock valued at $93,798,000 after purchasing an additional 379,747 shares during the period. Hedge funds and other institutional investors own 81.09% of the company’s stock.
A number of analysts recently issued reports on GNTX shares. Robert W. Baird lowered their price target on Gentex from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Monday, October 23rd. BidaskClub upgraded Gentex from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. Zacks Investment Research upgraded Gentex from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. Longbow Research assumed coverage on Gentex in a report on Friday, January 5th. They set a “buy” rating and a $25.00 target price for the company. Finally, ValuEngine upgraded Gentex from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $25.50.
Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, January 26th. The auto parts company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $459.57 million during the quarter, compared to analyst estimates of $449.43 million. Gentex had a return on equity of 18.35% and a net margin of 22.66%. Gentex’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 earnings per share. analysts forecast that Gentex Co. will post 1.62 earnings per share for the current fiscal year.
In other news, insider Kevin C. Nash sold 7,874 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $23.40, for a total transaction of $184,251.60. Following the transaction, the insider now directly owns 34,062 shares of the company’s stock, valued at $797,050.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Scott P. Ryan sold 7,220 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $23.66, for a total value of $170,825.20. Following the transaction, the general counsel now directly owns 21,329 shares in the company, valued at $504,644.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,094 shares of company stock valued at $635,877. 2.50% of the stock is owned by company insiders.
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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