Zurcher Kantonalbank Zurich Cantonalbank Has $1.68 Million Stock Position in Gentex Co. (NASDAQ:GNTX)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Gentex Co. (NASDAQ:GNTX) by 8.9% during the fourth quarter, Holdings Channel reports. The fund owned 51,523 shares of the auto parts company’s stock after acquiring an additional 4,221 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Gentex were worth $1,683,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Hamilton Point Investment Advisors LLC grew its stake in Gentex by 1.7% during the 4th quarter. Hamilton Point Investment Advisors LLC now owns 202,743 shares of the auto parts company’s stock valued at $6,622,000 after acquiring an additional 3,345 shares in the last quarter. Oak Family Advisors LLC grew its position in Gentex by 6.4% during the fourth quarter. Oak Family Advisors LLC now owns 213,378 shares of the auto parts company’s stock valued at $6,969,000 after purchasing an additional 12,913 shares in the last quarter. Invesco LLC increased its stake in Gentex by 5.8% in the 4th quarter. Invesco LLC now owns 20,797 shares of the auto parts company’s stock valued at $679,000 after buying an additional 1,141 shares during the period. Cornercap Investment Counsel Inc. increased its stake in Gentex by 2.6% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 35,467 shares of the auto parts company’s stock valued at $1,158,000 after buying an additional 885 shares during the period. Finally, Outlook Wealth Advisors LLC purchased a new stake in Gentex in the 4th quarter worth approximately $223,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Stock Performance

Shares of NASDAQ GNTX opened at $35.16 on Thursday. The business’s 50-day simple moving average is $35.69 and its 200-day simple moving average is $33.05. Gentex Co. has a 52 week low of $25.85 and a 52 week high of $37.58. The firm has a market cap of $8.13 billion, a price-to-earnings ratio of 19.11, a P/E/G ratio of 0.72 and a beta of 0.99.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, January 26th. The auto parts company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.44 by $0.06. Gentex had a return on equity of 19.25% and a net margin of 18.63%. The company had revenue of $589.13 million for the quarter, compared to the consensus estimate of $563.42 million. During the same quarter last year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, equities research analysts forecast that Gentex Co. will post 2.16 earnings per share for the current year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, April 5th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, April 4th. Gentex’s dividend payout ratio is 26.09%.

Insider Buying and Selling at Gentex

In other news, Director Richard O. Schaum sold 6,022 shares of Gentex stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $33.93, for a total value of $204,326.46. Following the transaction, the director now directly owns 62,555 shares in the company, valued at $2,122,491.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Kevin C. Nash sold 13,500 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total transaction of $446,040.00. Following the completion of the transaction, the chief financial officer now directly owns 44,321 shares in the company, valued at approximately $1,464,365.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard O. Schaum sold 6,022 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $33.93, for a total transaction of $204,326.46. Following the completion of the sale, the director now owns 62,555 shares in the company, valued at $2,122,491.15. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GNTX shares. JPMorgan Chase & Co. upped their price target on shares of Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Guggenheim raised their price target on Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. StockNews.com raised Gentex from a “hold” rating to a “buy” rating in a research note on Friday, February 23rd. The Goldman Sachs Group increased their price objective on Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Finally, B. Riley lifted their target price on shares of Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Gentex presently has an average rating of “Moderate Buy” and a consensus target price of $37.83.

Gentex Company Profile

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, Republic of Korea, 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.