Farther Finance Advisors LLC Acquires 3,098 Shares of Gentex Corporation (NASDAQ:GNTX)

Farther Finance Advisors LLC raised its holdings in Gentex Corporation (NASDAQ:GNTX) by 50.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,283 shares of the auto parts company’s stock after acquiring an additional 3,098 shares during the period. Farther Finance Advisors LLC’s holdings in Gentex were worth $218,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Midwest Capital Advisors LLC bought a new position in Gentex in the fourth quarter valued at about $26,000. TD Private Client Wealth LLC grew its position in Gentex by 138.8% in the fourth quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company’s stock valued at $33,000 after acquiring an additional 662 shares during the last quarter. Harbor Investment Advisory LLC grew its position in Gentex by 208.2% in the first quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company’s stock valued at $38,000 after acquiring an additional 1,093 shares during the last quarter. UMB Bank n.a. grew its position in Gentex by 103.3% in the first quarter. UMB Bank n.a. now owns 2,124 shares of the auto parts company’s stock valued at $49,000 after acquiring an additional 1,079 shares during the last quarter. Finally, NBC Securities Inc. grew its position in Gentex by 268,600.0% in the first quarter. NBC Securities Inc. now owns 2,687 shares of the auto parts company’s stock valued at $62,000 after acquiring an additional 2,686 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

Gentex Price Performance

Shares of GNTX stock opened at $21.39 on Thursday. The business’s 50 day simple moving average is $21.82 and its 200 day simple moving average is $24.74. Gentex Corporation has a one year low of $20.28 and a one year high of $35.32. The stock has a market capitalization of $4.81 billion, a PE ratio of 12.51, a PEG ratio of 1.06 and a beta of 0.81.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, April 25th. The auto parts company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. Gentex had a return on equity of 16.11% and a net margin of 17.01%. The business had revenue of $576.77 million for the quarter, compared to analysts’ expectations of $578.68 million. During the same period in the prior year, the business posted $0.47 earnings per share. The firm’s revenue was down 2.3% on a year-over-year basis. As a group, research analysts expect that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.24%. The ex-dividend date is Wednesday, July 9th. Gentex’s dividend payout ratio (DPR) is presently 28.07%.

Insider Buying and Selling at Gentex

In related news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the stock in a transaction 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GNTX shares. The Goldman Sachs Group decreased their target price on Gentex from $28.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Robert W. Baird restated a “neutral” rating and set a $25.00 price target (down from $31.00) on shares of Gentex in a report on Tuesday, April 15th. Baird R W cut Gentex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. UBS Group reduced their price target on Gentex from $29.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Finally, Guggenheim reduced their price target on Gentex from $30.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $28.31.

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.