NBC Securities Inc. Has $62,000 Position in Gentex Co. (NASDAQ:GNTX)

NBC Securities Inc. grew its stake in shares of Gentex Co. (NASDAQ:GNTX) by 268,600.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,687 shares of the auto parts company’s stock after buying an additional 2,686 shares during the period. NBC Securities Inc.’s holdings in Gentex were worth $62,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Wellington Management Group LLP raised its position in shares of Gentex by 6.1% during the fourth quarter. Wellington Management Group LLP now owns 18,023,056 shares of the auto parts company’s stock valued at $517,802,000 after buying an additional 1,038,912 shares during the last quarter. Burgundy Asset Management Ltd. raised its position in shares of Gentex by 1.6% during the fourth quarter. Burgundy Asset Management Ltd. now owns 5,516,817 shares of the auto parts company’s stock valued at $158,498,000 after buying an additional 86,929 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Gentex by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 5,423,820 shares of the auto parts company’s stock valued at $155,861,000 after buying an additional 55,816 shares during the last quarter. TD Asset Management Inc. raised its position in shares of Gentex by 7.1% during the fourth quarter. TD Asset Management Inc. now owns 5,415,871 shares of the auto parts company’s stock valued at $155,598,000 after buying an additional 356,854 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Gentex by 162.4% during the fourth quarter. JPMorgan Chase & Co. now owns 5,249,230 shares of the auto parts company’s stock valued at $150,810,000 after buying an additional 3,248,434 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Insiders Place Their Bets

In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $22.87, for a total transaction of $86,082.68. Following the sale, the director now directly owns 5,939 shares of the company’s stock, valued at $135,824.93. This represents a 38.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.45% of the company’s stock.

Gentex Trading Down 0.9%

Shares of Gentex stock opened at $22.05 on Thursday. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 0.84 and a beta of 0.82. Gentex Co. has a 1-year low of $20.28 and a 1-year high of $35.32. The firm’s 50-day moving average price is $21.78 and its two-hundred day moving average price is $25.05.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, April 25th. The auto parts company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The firm had revenue of $576.77 million for the quarter, compared to analysts’ expectations of $578.68 million. Gentex had a net margin of 17.49% and a return on equity of 16.74%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. As a group, equities research analysts predict that Gentex Co. will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, July 9th. This represents a $0.48 annualized dividend and a yield of 2.18%. Gentex’s dividend payout ratio is 28.07%.

Analyst Ratings Changes

A number of brokerages have recently commented on GNTX. Baird R W lowered shares of Gentex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Guggenheim lowered their target price on shares of Gentex from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group lowered their target price on shares of Gentex from $28.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Robert W. Baird reissued a “neutral” rating and issued a $25.00 target price (down previously from $31.00) on shares of Gentex in a research note on Tuesday, April 15th. Finally, UBS Group lowered their target price on shares of Gentex from $29.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Gentex presently has an average rating of “Hold” and a consensus target price of $28.31.

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.