Gentex Co. (NASDAQ:GNTX) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in shares of Gentex Co. (NASDAQ:GNTX) by 26.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,742 shares of the auto parts company’s stock after acquiring an additional 363 shares during the period. GAMMA Investing LLC’s holdings in Gentex were worth $63,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of GNTX. Vanguard Group Inc. boosted its holdings in Gentex by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock worth $727,688,000 after buying an additional 163,373 shares in the last quarter. Wellington Management Group LLP raised its holdings in Gentex by 27.9% in the 4th quarter. Wellington Management Group LLP now owns 8,728,378 shares of the auto parts company’s stock worth $285,069,000 after purchasing an additional 1,905,356 shares during the period. Burgundy Asset Management Ltd. increased its position in shares of Gentex by 8.5% in the fourth quarter. Burgundy Asset Management Ltd. now owns 4,169,029 shares of the auto parts company’s stock valued at $136,160,000 after buying an additional 325,687 shares in the last quarter. TD Asset Management Inc increased its holdings in Gentex by 58.1% in the 4th quarter. TD Asset Management Inc now owns 3,313,757 shares of the auto parts company’s stock worth $108,227,000 after acquiring an additional 1,217,278 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Gentex during the fourth quarter worth about $89,843,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Gentex Stock Up 0.1 %

Shares of GNTX opened at $33.73 on Monday. Gentex Co. has a 52-week low of $27.04 and a 52-week high of $37.58. The stock has a fifty day simple moving average of $34.37 and a two-hundred day simple moving average of $34.26. The company has a market capitalization of $7.80 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 0.95 and a beta of 0.97.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The firm had revenue of $590.23 million for the quarter, compared to analysts’ expectations of $600.38 million. Gentex had a return on equity of 19.19% and a net margin of 18.77%. Gentex’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $0.42 earnings per share. As a group, equities analysts anticipate that Gentex Co. will post 2.11 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 17th. Shareholders of record on Friday, July 5th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Friday, July 5th. Gentex’s dividend payout ratio is currently 25.40%.

Insider Buying and Selling

In other Gentex news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $34.46, for a total transaction of $162,513.36. Following the sale, the director now owns 3,764 shares in the company, valued at approximately $129,707.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.41% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on GNTX. B. Riley boosted their price objective on Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. StockNews.com raised Gentex from a “hold” rating to a “buy” rating in a research note on Sunday, June 16th. Finally, Guggenheim lifted their target price on shares of Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.83.

Gentex 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.