Elo Mutual Pension Insurance Co Makes New $726,000 Investment in Gentex Corporation $GNTX

Elo Mutual Pension Insurance Co acquired a new position in shares of Gentex Corporation (NASDAQ:GNTX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 25,653 shares of the auto parts company’s stock, valued at approximately $726,000.

Several other large investors also recently made changes to their positions in GNTX. Royal Bank of Canada increased its holdings in Gentex by 33.1% during the first quarter. Royal Bank of Canada now owns 189,561 shares of the auto parts company’s stock worth $4,418,000 after buying an additional 47,150 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Gentex by 1.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,321,634 shares of the auto parts company’s stock valued at $30,794,000 after acquiring an additional 23,454 shares during the last quarter. Empowered Funds LLC grew its position in shares of Gentex by 255.6% in the 1st quarter. Empowered Funds LLC now owns 81,142 shares of the auto parts company’s stock valued at $1,891,000 after acquiring an additional 58,323 shares during the period. Resona Asset Management Co. Ltd. bought a new position in shares of Gentex in the 2nd quarter valued at about $607,000. Finally, Twin Capital Management Inc. increased its stake in shares of Gentex by 2.8% during the 2nd quarter. Twin Capital Management Inc. now owns 82,717 shares of the auto parts company’s stock worth $1,819,000 after purchasing an additional 2,221 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kevin C. Nash sold 11,885 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $24.98, for a total value of $296,887.30. Following the completion of the transaction, the chief financial officer owned 59,430 shares of the company’s stock, valued at $1,484,561.40. The trade was a 16.67% 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. Also, CEO Steven R. Downing sold 35,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $24.75, for a total transaction of $866,250.00. Following the sale, the chief executive officer directly owned 211,670 shares of the company’s stock, valued at $5,238,832.50. This represents a 14.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 58,133 shares of company stock worth $1,442,313. Company insiders own 0.45% of the company’s stock.

Gentex Trading Down 1.9%

Shares of GNTX stock opened at $22.08 on Friday. The stock has a market cap of $4.76 billion, a P/E ratio of 12.69 and a beta of 0.76. Gentex Corporation has a 1 year low of $20.28 and a 1 year high of $29.38. The stock has a 50 day simple moving average of $23.85 and a 200 day simple moving average of $24.91.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, January 30th. The auto parts company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $644.40 million for the quarter, compared to analyst estimates of $650.90 million. Gentex had a return on equity of 16.05% and a net margin of 15.19%.The company’s revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the company earned $0.39 EPS. Analysts forecast that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 8th will be given a $0.12 dividend. The ex-dividend date is Wednesday, April 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.2%. Gentex’s dividend payout ratio (DPR) is presently 27.59%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GNTX. B. Riley Financial dropped their target price on shares of Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a report on Thursday, January 22nd. Robert W. Baird set a $26.00 price target on Gentex in a research report on Wednesday, January 14th. Wall Street Zen lowered Gentex from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, UBS Group set a $25.00 price objective on Gentex in a research report on Monday, February 2nd. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.71.

Gentex Profile

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).