M&T Bank Corp Has $541,000 Holdings in Gentex Corporation (NASDAQ:GNTX)

M&T Bank Corp lessened its holdings in shares of Gentex Corporation (NASDAQ:GNTX) by 9.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,230 shares of the auto parts company’s stock after selling 2,326 shares during the period. M&T Bank Corp’s holdings in Gentex were worth $541,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GNTX. Wellington Management Group LLP raised its stake 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 acquiring an additional 1,038,912 shares during the last quarter. Burgundy Asset Management Ltd. raised its stake in Gentex by 1.6% during the 4th quarter. Burgundy Asset Management Ltd. now owns 5,516,817 shares of the auto parts company’s stock worth $158,498,000 after buying an additional 86,929 shares during the period. Geode Capital Management LLC raised its stake in Gentex by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 5,423,820 shares of the auto parts company’s stock worth $155,861,000 after buying an additional 55,816 shares during the period. TD Asset Management Inc. grew its holdings 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. grew its holdings 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.

Insider Transactions at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $22.87, for a total value of $86,082.68. Following the completion of the sale, the director directly owned 5,939 shares of the company’s stock, valued at approximately $135,824.93. This trade represents a 38.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.45% of the stock is currently owned by company insiders.

Gentex Stock Performance

Shares of Gentex stock opened at $22.66 on Wednesday. Gentex Corporation has a 52-week low of $20.28 and a 52-week high of $35.32. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 1.14 and a beta of 0.81. The company has a fifty day moving average of $22.18 and a 200-day moving average of $23.72.

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

Gentex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Wednesday, July 9th. Gentex’s dividend payout ratio (DPR) is presently 28.07%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GNTX shares. Guggenheim reduced their price objective on shares of Gentex from $30.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Baird R W cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. UBS Group reissued a “neutral” rating and issued a $23.00 price target (up previously from $21.00) on shares of Gentex in a research report on Monday. Robert W. Baird boosted their price target on shares of Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Finally, Industrial Alliance Securities set a $25.00 target price on shares of Gentex in a report on Friday, July 11th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $28.28.

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.