BBT Capital Management LLC acquired a new position in shares of Gentex Co. (NASDAQ:GNTX) in the third quarter, Holdings Channel reports. The institutional investor acquired 38,941 shares of the auto parts company’s stock, valued at approximately $836,000.
Several other large investors have also recently modified their holdings of the company. Bruderman Asset Management LLC acquired a new stake in shares of Gentex in the second quarter valued at approximately $112,000. Fort L.P. acquired a new stake in shares of Gentex in the second quarter valued at approximately $115,000. MUFG Americas Holdings Corp raised its position in shares of Gentex by 61.9% in the second quarter. MUFG Americas Holdings Corp now owns 5,665 shares of the auto parts company’s stock valued at $130,000 after buying an additional 2,165 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Gentex in the second quarter valued at approximately $166,000. Finally, GAM Holding AG acquired a new stake in shares of Gentex in the second quarter valued at approximately $218,000. Institutional investors own 86.98% of the company’s stock.
A number of equities research analysts have recently weighed in on GNTX shares. BidaskClub downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research report on Wednesday, September 5th. Wells Fargo & Co reiterated a “buy” rating on shares of Gentex in a research report on Wednesday, November 14th. Zacks Investment Research downgraded shares of Gentex from a “hold” rating to a “sell” rating in a research report on Tuesday, September 18th. Longbow Research set a $28.00 price target on shares of Gentex and gave the company a “buy” rating in a research report on Friday, August 24th. Finally, Craig Hallum reiterated a “hold” rating and issued a $20.00 price target on shares of Gentex in a research report on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $24.50.
Shares of GNTX opened at $22.35 on Friday. Gentex Co. has a one year low of $17.80 and a one year high of $25.41. The company has a market cap of $5.86 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.23 and a beta of 1.12.
Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, October 19th. The auto parts company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Gentex had a net margin of 25.11% and a return on equity of 21.83%. The business had revenue of $460.25 million during the quarter, compared to the consensus estimate of $465.51 million. During the same period in the previous year, the business earned $0.31 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. Equities research analysts anticipate that Gentex Co. will post 1.65 EPS for the current year.
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Gentex Corporation provides automatic-dimming and non-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 worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.
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