Mcmorgan & Co. LLC Has $2.84 Million Stock Position in Gentex Co. (NASDAQ:GNTX)

Mcmorgan & Co. LLC grew its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 7.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,357 shares of the auto parts company’s stock after purchasing an additional 5,495 shares during the quarter. Mcmorgan & Co. LLC’s holdings in Gentex were worth $2,844,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of GNTX. Wells Fargo & Company MN lifted its position in shares of Gentex by 8.3% in the fourth quarter. Wells Fargo & Company MN now owns 276,399 shares of the auto parts company’s stock worth $9,027,000 after buying an additional 21,148 shares during the last quarter. D.A. Davidson & CO. boosted its position in Gentex by 4.2% during the fourth quarter. D.A. Davidson & CO. now owns 21,131 shares of the auto parts company’s stock worth $690,000 after purchasing an additional 859 shares during the period. Corient Private Wealth LLC grew its holdings in Gentex by 8.2% during the fourth quarter. Corient Private Wealth LLC now owns 69,333 shares of the auto parts company’s stock valued at $2,264,000 after purchasing an additional 5,230 shares during the last quarter. Franklin Resources Inc. grew its holdings in Gentex by 14.7% during the fourth quarter. Franklin Resources Inc. now owns 93,338 shares of the auto parts company’s stock valued at $3,048,000 after purchasing an additional 11,950 shares during the last quarter. Finally, Commerce Bank bought a new position in shares of Gentex in the fourth quarter valued at approximately $457,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GNTX shares. StockNews.com cut shares of Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Robert W. Baird decreased their target price on Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. JPMorgan Chase & Co. lowered their target price on Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. BNP Paribas lowered Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target for the company. in a report on Tuesday, July 30th. Finally, UBS Group started coverage on shares of Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $36.86.

Insider Buying and Selling at Gentex

In other news, major shareholder Corp Gentex bought 3,152,500 shares of Gentex stock in a transaction dated Friday, August 23rd. The shares were bought at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the purchase, the insider now owns 6,463,808 shares of the company’s stock, valued at $32,319,040. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.41% of the company’s stock.

Gentex Price Performance

GNTX opened at $30.28 on Thursday. The company has a market capitalization of $7.00 billion, a P/E ratio of 16.02, a P/E/G ratio of 0.99 and a beta of 0.92. The firm’s fifty day moving average price is $30.48 and its two-hundred day moving average price is $33.21. Gentex Co. has a fifty-two week low of $27.86 and a fifty-two week high of $37.58.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, July 26th. The auto parts company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.15). The business had revenue of $572.93 million during the quarter, compared to analyst estimates of $623.28 million. Gentex had a return on equity of 17.78% and a net margin of 17.87%. On average, equities research analysts expect that Gentex Co. will post 1.96 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Wednesday, October 9th. Gentex’s dividend payout ratio (DPR) is 25.40%.

About Gentex

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.