Seven Eight Capital LP Sells 10,668 Shares of Gentex Co. (NASDAQ:GNTX)

Seven Eight Capital LP reduced its position in Gentex Co. (NASDAQ:GNTXFree Report) by 33.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,898 shares of the auto parts company’s stock after selling 10,668 shares during the quarter. Seven Eight Capital LP’s holdings in Gentex were worth $683,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Thematics Asset Management increased its holdings in Gentex by 51.2% in the 4th quarter. Thematics Asset Management now owns 523,207 shares of the auto parts company’s stock valued at $17,088,000 after buying an additional 177,207 shares during the period. Schroder Investment Management Group increased its holdings in Gentex by 14.9% in the 4th quarter. Schroder Investment Management Group now owns 2,706,826 shares of the auto parts company’s stock valued at $88,405,000 after buying an additional 350,321 shares during the period. Epoch Investment Partners Inc. increased its holdings in Gentex by 14.6% in the 4th quarter. Epoch Investment Partners Inc. now owns 2,235,337 shares of the auto parts company’s stock valued at $73,006,000 after buying an additional 284,260 shares during the period. Burgundy Asset Management Ltd. increased its holdings in Gentex by 8.5% in the 4th quarter. Burgundy Asset Management Ltd. now owns 4,169,029 shares of the auto parts company’s stock valued at $136,160,000 after buying an additional 325,687 shares during the period. Finally, First Trust Advisors LP increased its holdings in Gentex by 301.6% in the 4th quarter. First Trust Advisors LP now owns 2,568,775 shares of the auto parts company’s stock valued at $83,896,000 after buying an additional 1,929,150 shares during the period. 86.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GNTX has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research note on Saturday. B. Riley raised their price target 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. Finally, Guggenheim raised their price target on shares of Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Gentex presently has a consensus rating of “Hold” and an average price target of $37.83.

View Our Latest Stock Analysis on Gentex

Gentex Price Performance

NASDAQ:GNTX opened at $34.09 on Tuesday. The firm’s 50 day simple moving average is $34.64 and its 200 day simple moving average is $34.05. Gentex Co. has a one year low of $27.04 and a one year high of $37.58. The company has a market cap of $7.88 billion, a PE ratio of 18.04, a P/E/G ratio of 0.96 and a beta of 0.97.

Gentex (NASDAQ:GNTXGet Free Report) last posted its earnings results on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). The business had revenue of $590.23 million for the quarter, compared to analyst estimates of $600.38 million. Gentex had a return on equity of 19.19% and a net margin of 18.77%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. Equities research analysts expect that Gentex Co. will post 2.11 EPS for the current year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 17th. Stockholders of record on Friday, July 5th will be given a $0.12 dividend. The ex-dividend date is Friday, July 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. Gentex’s dividend payout ratio (DPR) is currently 25.40%.

Insider Transactions at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $34.46, for a total value of $162,513.36. Following the transaction, the director now owns 3,764 shares in the company, valued at approximately $129,707.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.41% of the company’s stock.

About Gentex

(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, 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.

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Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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