Choreo LLC Takes Position in Gentex Co. (NASDAQ:GNTX)

Choreo LLC bought a new stake in Gentex Co. (NASDAQ:GNTX) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 11,001 shares of the auto parts company’s stock, valued at approximately $370,000.

Several other hedge funds have also bought and sold shares of GNTX. National Bank of Canada FI boosted its position in Gentex by 159.1% during the fourth quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock worth $30,000 after purchasing an additional 571 shares during the period. Financial Advocates Investment Management grew its stake in Gentex by 22.2% in the 4th quarter. Financial Advocates Investment Management now owns 7,900 shares of the auto parts company’s stock valued at $258,000 after buying an additional 1,436 shares during the last quarter. Brown Advisory Inc. raised its holdings in Gentex by 1.9% in the 4th quarter. Brown Advisory Inc. now owns 1,044,201 shares of the auto parts company’s stock valued at $34,104,000 after acquiring an additional 19,851 shares during the period. Norges Bank acquired a new stake in Gentex during the fourth quarter worth approximately $89,843,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Gentex by 129.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 111,827 shares of the auto parts company’s stock worth $3,652,000 after acquiring an additional 63,152 shares during the period. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Corp Gentex purchased 3,152,500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the acquisition, the insider now owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.41% of the company’s stock.

Gentex Trading Down 1.3 %

Shares of Gentex stock opened at $28.82 on Tuesday. The company has a market cap of $6.66 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 0.96 and a beta of 0.92. The company has a 50 day moving average of $31.00 and a 200-day moving average of $33.51. Gentex Co. has a 1-year low of $27.86 and a 1-year high of $37.58.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, July 26th. The auto parts company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.15). Gentex had a return on equity of 17.78% and a net margin of 17.87%. The business had revenue of $572.93 million for the quarter, compared to the consensus estimate of $623.28 million. Research analysts forecast that Gentex Co. will post 1.96 earnings per share for the current year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Wednesday, October 9th. Gentex’s dividend payout ratio is presently 25.40%.

Analysts Set New Price Targets

GNTX has been the topic of a number of recent research reports. UBS Group assumed coverage on Gentex in a research note on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Robert W. Baird lowered their price target on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. BNP Paribas downgraded shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective for the company. in a report on Tuesday, July 30th. Finally, StockNews.com cut shares of Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $36.86.

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.