Trading Report: The Whittier Trust Co. Maintains Position in Gentex Corp. (GNTX)

The Whittier Trust Co. Maintains Position in Gentex Corp. (GNTX)

Whittier Trust Co. maintained its stake in shares of Gentex Corp. (NASDAQ:GNTX) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,400 shares of the company’s stock at the end of the second quarter. Whittier Trust Co.’s holdings in Gentex Corp. were worth $130,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of GNTX. Fairpointe Capital LLC increased its stake in shares of Gentex Corp. by 14.3% in the first quarter. Fairpointe Capital LLC now owns 8,170,651 shares of the company’s stock worth $128,197,000 after buying an additional 1,019,824 shares during the period. Scharf Investments LLC increased its stake in shares of Gentex Corp. by 13.2% in the first quarter. Scharf Investments LLC now owns 6,832,754 shares of the company’s stock worth $107,206,000 after buying an additional 794,511 shares during the period. UBS Group AG increased its stake in shares of Gentex Corp. by 182.8% in the first quarter. UBS Group AG now owns 216,701 shares of the company’s stock worth $3,400,000 after buying an additional 478,383 shares during the period. PGGM Investments increased its stake in shares of Gentex Corp. by 21.2% in the second quarter. PGGM Investments now owns 2,187,201 shares of the company’s stock worth $33,792,000 after buying an additional 382,663 shares during the period. Finally, Sprucegrove Investment Management Ltd. increased its stake in shares of Gentex Corp. by 20.3% in the second quarter. Sprucegrove Investment Management Ltd. now owns 1,809,300 shares of the company’s stock worth $27,954,000 after buying an additional 305,200 shares during the period. Institutional investors and hedge funds own 86.15% of the company’s stock.

Gentex Corp. (NASDAQ:GNTX) traded down 0.11% during midday trading on Monday, reaching $17.43. 1,507,437 shares of the company were exchanged. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 15.29 and a beta of 1.10. The firm’s 50-day moving average price is $17.59 and its 200 day moving average price is $16.67. Gentex Corp. has a 52-week low of $12.93 and a 52-week high of $18.30.

Gentex Corp. (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, July 22nd. The company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.01. Gentex Corp. had a net margin of 20.52% and a return on equity of 19.26%. The company earned $423.80 million during the quarter, compared to the consensus estimate of $416.99 million. During the same period in the prior year, the company earned $0.26 EPS. Gentex Corp.’s revenue was up 11.7% on a year-over-year basis. Equities analysts predict that Gentex Corp. will post $1.20 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Friday, October 7th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Wednesday, October 5th. Gentex Corp.’s payout ratio is 31.30%.

A number of equities research analysts have recently commented on GNTX shares. Zacks Investment Research upgraded shares of Gentex Corp. from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a report on Friday, June 24th. Wells Fargo & Co. reiterated an “outperform” rating and set a $19.00 price target on shares of Gentex Corp. in a report on Tuesday, September 13th.

In other Gentex Corp. news, insider Kevin C. Nash sold 6,412 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $17.63, for a total transaction of $113,043.56. Following the completion of the sale, the insider now directly owns 31,432 shares of the company’s stock, valued at $554,146.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Fred Bauer sold 696,000 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $18.03, for a total transaction of $12,548,880.00. Following the sale, the chairman now directly owns 6,011,728 shares of the company’s stock, valued at $108,391,455.84. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.

Gentex Corp. 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 segments include Automotive Products and Other, which includes Fire Protection Products and Dimmable Aircraft Windows.

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