Royce & Associates LP Has $91.02 Million Position in Gentex Corporation (GNTX)

Royce & Associates LP cut its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 4.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,597,092 shares of the auto parts company’s stock after selling 238,692 shares during the quarter. Gentex accounts for about 0.6% of Royce & Associates LP’s investment portfolio, making the stock its 21st largest holding. Royce & Associates LP owned approximately 1.62% of Gentex worth $91,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Aperio Group LLC lifted its holdings in Gentex by 4.3% in the 2nd quarter. Aperio Group LLC now owns 75,224 shares of the auto parts company’s stock worth $1,427,000 after buying an additional 3,101 shares during the period. Russell Investments Group Ltd. lifted its holdings in Gentex by 43.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 128,796 shares of the auto parts company’s stock worth $2,444,000 after buying an additional 39,317 shares during the period. Acadian Asset Management LLC purchased a new stake in Gentex in the 2nd quarter worth approximately $642,000. Janney Montgomery Scott LLC lifted its holdings in Gentex by 3.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 45,337 shares of the auto parts company’s stock worth $860,000 after buying an additional 1,534 shares during the period. Finally, Great West Life Assurance Co. Can lifted its holdings in Gentex by 0.7% in the 2nd quarter. Great West Life Assurance Co. Can now owns 238,585 shares of the auto parts company’s stock worth $4,521,000 after buying an additional 1,602 shares during the period. Institutional investors own 81.84% of the company’s stock.

In other news, CFO Steven R. Downing sold 8,000 shares of the stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $19.70, for a total value of $157,600.00. Following the completion of the transaction, the chief financial officer now owns 47,362 shares of the company’s stock, valued at approximately $933,031.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kevin C. Nash sold 4,320 shares of the stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $19.70, for a total value of $85,104.00. Following the completion of the transaction, the insider now directly owns 30,732 shares of the company’s stock, valued at approximately $605,420.40. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.

GNTX has been the subject of several research analyst reports. Robert W. Baird upgraded Gentex from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $17.36 to $22.00 in a report on Thursday, August 24th. BidaskClub upgraded Gentex from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Zacks Investment Research upgraded Gentex from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. ValuEngine cut Gentex from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, KeyCorp reiterated a “buy” rating and issued a $25.00 price objective on shares of Gentex in a report on Sunday, October 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Gentex has a consensus rating of “Hold” and an average target price of $22.06.

Gentex Corporation (NASDAQ GNTX) opened at $20.31 on Wednesday. Gentex Corporation has a 52-week low of $16.59 and a 52-week high of $22.12. The stock has a market capitalization of $5,850.00, a P/E ratio of 16.34, a PEG ratio of 1.67 and a beta of 1.22.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, October 20th. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. Gentex had a return on equity of 18.45% and a net margin of 20.80%. The firm had revenue of $438.63 million during the quarter, compared to analyst estimates of $452.42 million. During the same quarter in the prior year, the company earned $0.32 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. equities analysts anticipate that Gentex Corporation will post 1.27 earnings per share for the current year.

Gentex declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 23rd that permits the company to repurchase 15,000,000 shares. This repurchase authorization permits the auto parts company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Friday, January 5th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, January 4th. Gentex’s dividend payout ratio is currently 31.75%.

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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.

Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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