Thoroughbred Financial Services LLC Raises Stock Holdings in Gentex Co. (NASDAQ:GNTX)

Thoroughbred Financial Services LLC raised its position in shares of Gentex Co. (NASDAQ:GNTX) by 11.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,547 shares of the auto parts company’s stock after acquiring an additional 1,325 shares during the period. Thoroughbred Financial Services LLC’s holdings in Gentex were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Neo Ivy Capital Management purchased a new stake in Gentex during the 4th quarter valued at $29,000. National Bank of Canada FI raised its holdings in Gentex by 159.1% during the 4th quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock valued at $30,000 after buying an additional 571 shares during the period. Quest Partners LLC purchased a new stake in Gentex during the 2nd quarter valued at $31,000. Gladius Capital Management LP purchased a new stake in Gentex during the 2nd quarter valued at $34,000. Finally, GAMMA Investing LLC raised its holdings in Gentex by 26.3% during the 1st quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock valued at $63,000 after buying an additional 363 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Corp Gentex bought 3,152,500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the completion of the acquisition, the insider now directly owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Robert W. Baird decreased their target price on Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. JPMorgan Chase & Co. decreased their target price on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. StockNews.com downgraded Gentex from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. BNP Paribas downgraded Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price for the company. in a research report on Tuesday, July 30th. Finally, UBS Group assumed coverage on Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $36.86.

Gentex Stock Performance

Shares of NASDAQ GNTX opened at $28.82 on Tuesday. The company has a market cap of $6.66 billion, a PE ratio of 15.25, a P/E/G ratio of 0.96 and a beta of 0.92. The business has a 50-day simple moving average of $31.00 and a two-hundred day simple moving average of $33.51. Gentex Co. has a fifty-two week low of $27.86 and a fifty-two week high of $37.58.

Gentex (NASDAQ:GNTX) last issued its quarterly 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). The business had revenue of $572.93 million during the quarter, compared to analyst estimates of $623.28 million. Gentex had a return on equity of 17.78% and a net margin of 17.87%. On average, sell-side analysts predict that Gentex Co. will post 1.96 earnings per share for the current fiscal year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Wednesday, October 9th. Gentex’s dividend payout ratio (DPR) is 25.40%.

About Gentex

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.