New Mexico Educational Retirement Board purchased a new position in shares of Gentex Co. (NASDAQ:GNTX) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 70,700 shares of the auto parts company’s stock, valued at approximately $1,481,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of GNTX. DekaBank Deutsche Girozentrale purchased a new stake in shares of Gentex during the 3rd quarter worth about $105,000. Ffcm LLC acquired a new position in shares of Gentex during the 3rd quarter valued at about $174,000. Verition Fund Management LLC acquired a new position in shares of Gentex during the 2nd quarter valued at about $195,000. Hikari Power Ltd acquired a new position in shares of Gentex during the 4th quarter valued at about $203,000. Finally, Essex Financial Services Inc. acquired a new position in shares of Gentex during the 4th quarter valued at about $205,000. 80.85% of the stock is owned by institutional investors.
A number of research analysts have recently commented on the company. B. Riley reissued a “buy” rating on shares of Gentex in a report on Wednesday, November 1st. Robert W. Baird lowered Gentex from an “outperform” rating to a “neutral” rating in a report on Tuesday, January 23rd. Craig Hallum increased their price objective on Gentex from $18.00 to $23.00 and gave the company a “hold” rating in a report on Monday, January 29th. Zacks Investment Research raised Gentex from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Wednesday, January 31st. Finally, Longbow Research assumed coverage on Gentex in a report on Friday, January 5th. They set a “buy” rating and a $25.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $25.50.
Gentex (NASDAQ:GNTX) last released its earnings results on Friday, January 26th. The auto parts company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.01. The firm had revenue of $459.57 million for 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%. The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. equities research analysts anticipate that Gentex Co. will post 1.62 earnings per share for the current year.
In other Gentex news, General Counsel Scott P. Ryan sold 7,220 shares of the firm’s stock in a transaction that occurred 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 sale, the general counsel now owns 21,329 shares of the company’s stock, valued at approximately $504,644.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kevin C. Nash sold 7,874 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $23.40, for a total value of $184,251.60. Following the completion of the sale, the insider now directly owns 34,062 shares in the company, valued at approximately $797,050.80. The disclosure for this sale can be found here. Insiders sold a total of 27,094 shares of company stock worth $635,877 in the last ninety days. Insiders own 2.50% of the company’s stock.
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Gentex Company Profile
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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