American Century Companies Inc. Buys 131,035 Shares of Gentex Corporation $GNTX

American Century Companies Inc. lifted its position in Gentex Corporation (NASDAQ:GNTX) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,742,293 shares of the auto parts company’s stock after purchasing an additional 131,035 shares during the quarter. American Century Companies Inc. owned about 3.07% of Gentex worth $190,807,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GNTX. Royal Bank of Canada raised its holdings in shares of Gentex by 33.1% during the 1st quarter. Royal Bank of Canada now owns 189,561 shares of the auto parts company’s stock worth $4,418,000 after acquiring an additional 47,150 shares in the last quarter. Goldman Sachs Group Inc. increased its position 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 worth $30,794,000 after purchasing an additional 23,454 shares during the last quarter. Empowered Funds LLC increased its position in Gentex by 255.6% in the first quarter. Empowered Funds LLC now owns 81,142 shares of the auto parts company’s stock worth $1,891,000 after purchasing an additional 58,323 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in Gentex by 3.1% during the second quarter. State of New Jersey Common Pension Fund D now owns 85,767 shares of the auto parts company’s stock valued at $1,886,000 after purchasing an additional 2,548 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its position in Gentex by 10.4% during the second quarter. Teacher Retirement System of Texas now owns 248,598 shares of the auto parts company’s stock valued at $5,467,000 after purchasing an additional 23,418 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Kevin C. Nash sold 11,885 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $24.98, for a total transaction of $296,887.30. Following the transaction, the chief financial officer directly owned 59,430 shares of the company’s stock, valued at approximately $1,484,561.40. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Neil Boehm sold 11,248 shares of Gentex stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $24.82, for a total transaction of $279,175.36. Following the sale, the chief technology officer directly owned 58,951 shares of the company’s stock, valued at $1,463,163.82. This represents a 16.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 58,133 shares of company stock worth $1,442,313 in the last three months. Corporate insiders own 0.45% of the company’s stock.

Gentex Stock Down 1.2%

GNTX stock opened at $23.40 on Friday. Gentex Corporation has a twelve month low of $20.28 and a twelve month high of $29.38. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of 13.45 and a beta of 0.78. The business’s fifty day simple moving average is $23.91 and its two-hundred day simple moving average is $25.06.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, January 30th. The auto parts company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $644.40 million during the quarter, compared to analyst estimates of $650.90 million. Gentex had a net margin of 15.19% and a return on equity of 16.05%. The business’s revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 earnings per share. Research analysts expect that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 8th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Wednesday, April 8th. Gentex’s dividend payout ratio is currently 27.59%.

Analyst Upgrades and Downgrades

GNTX has been the topic of a number of research reports. B. Riley Financial reduced 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. Wall Street Zen downgraded shares of Gentex from a “buy” rating to a “hold” rating in a report on Saturday. Robert W. Baird set a $26.00 price objective on Gentex in a research note on Wednesday, January 14th. UBS Group set a $25.00 price objective on Gentex in a research report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gentex in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $26.71.

About Gentex

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).