GAMMA Investing LLC Increases Stock Position in Gentex Corporation (NASDAQ:GNTX)

GAMMA Investing LLC lifted its holdings in shares of Gentex Corporation (NASDAQ:GNTX) by 16.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,957 shares of the auto parts company’s stock after buying an additional 824 shares during the quarter. GAMMA Investing LLC’s holdings in Gentex were worth $139,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. TD Private Client Wealth LLC increased its holdings in Gentex by 138.8% during the 4th quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company’s stock worth $33,000 after acquiring an additional 662 shares during the period. Harbor Investment Advisory LLC increased its holdings in Gentex by 208.2% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company’s stock worth $38,000 after acquiring an additional 1,093 shares during the period. UMB Bank n.a. increased its holdings in Gentex by 103.3% during the 1st quarter. UMB Bank n.a. now owns 2,124 shares of the auto parts company’s stock worth $49,000 after acquiring an additional 1,079 shares during the period. NBC Securities Inc. increased its holdings in shares of Gentex by 268,600.0% in the 1st quarter. NBC Securities Inc. now owns 2,687 shares of the auto parts company’s stock worth $62,000 after buying an additional 2,686 shares during the last quarter. Finally, LRI Investments LLC increased its holdings in shares of Gentex by 33.2% in the 4th quarter. LRI Investments LLC now owns 2,750 shares of the auto parts company’s stock worth $79,000 after buying an additional 686 shares during the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Gentex Stock Down 0.5%

Shares of GNTX stock opened at $23.11 on Friday. The company has a 50 day moving average price of $22.00 and a 200-day moving average price of $24.02. Gentex Corporation has a 52 week low of $20.28 and a 52 week high of $35.32. The firm has a market capitalization of $5.20 billion, a PE ratio of 13.51, a P/E/G ratio of 1.14 and a beta of 0.81.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, April 25th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. Gentex had a net margin of 17.01% and a return on equity of 16.11%. The company had revenue of $576.77 million for the quarter, compared to the consensus estimate of $578.68 million. During the same quarter last year, the firm posted $0.47 earnings per share. The firm’s revenue was down 2.3% compared to the same quarter last year. Analysts anticipate that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Wednesday, July 9th. Gentex’s payout ratio is currently 28.07%.

Analysts Set New Price Targets

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

Insider Activity

In related news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the company’s 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 sale, the director owned 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. 0.45% of the stock is currently owned by insiders.

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.