Guggenheim Capital LLC Reduces Stake in Gentex Co. (NASDAQ:GNTX)

by · The Markets Daily

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Guggenheim Capital LLC lowered its position in Gentex Co. (NASDAQ:GNTX – Free Report) by 7.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,841 shares of the auto parts company’s stock after selling 9,182 shares during the period. Guggenheim Capital LLC owned approximately 0.05% of Gentex worth $3,477,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of GNTX. Geode Capital Management LLC lifted its holdings in Gentex by 4.8% in the second quarter. Geode Capital Management LLC now owns 4,350,930 shares of the auto parts company’s stock valued at $127,308,000 after acquiring an additional 197,622 shares during the period. Covestor Ltd raised its stake in shares of Gentex by 10.8% during the 2nd quarter. Covestor Ltd now owns 5,447 shares of the auto parts company’s stock worth $159,000 after buying an additional 529 shares during the period. D.A. Davidson & CO. raised its stake in shares of Gentex by 15.2% during the 2nd quarter. D.A. Davidson & CO. now owns 14,167 shares of the auto parts company’s stock worth $415,000 after buying an additional 1,864 shares during the period. ExodusPoint Capital Management LP raised its stake in shares of Gentex by 32.2% during the 2nd quarter. ExodusPoint Capital Management LP now owns 84,066 shares of the auto parts company’s stock worth $2,460,000 after buying an additional 20,456 shares during the period. Finally, Osaic Holdings Inc. raised its stake in shares of Gentex by 38.4% during the 2nd quarter. Osaic Holdings Inc. now owns 122,866 shares of the auto parts company’s stock worth $3,595,000 after buying an additional 34,079 shares during the period. Hedge funds and other institutional investors own 84.60% of the company’s stock.

Gentex Stock Performance

Shares of GNTX opened at $30.41 on Thursday. Gentex Co. has a one year low of $25.77 and a one year high of $34.33. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 0.76 and a beta of 0.98. The stock has a 50 day moving average price of $30.73 and a 200 day moving average price of $30.51.

Gentex (NASDAQ:GNTX – Get Free Report) last issued its quarterly earnings results on Friday, October 27th. The auto parts company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. Gentex had a return on equity of 18.38% and a net margin of 18.04%. The firm had revenue of $575.85 million during the quarter, compared to analysts’ expectations of $567.57 million. During the same period in the previous year, the business earned $0.31 earnings per share. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, analysts predict that Gentex Co. will post 1.77 earnings per share for the current year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Investors of record on Friday, January 5th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Thursday, January 4th. Gentex’s payout ratio is 28.07%.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Gentex in a research note on Thursday, October 5th. They set a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.20.

Read Our Latest Analysis on GNTX

Gentex Profile

(Free Report)

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.

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