Ameritas Investment Partners Inc. Has $3.19 Million Stock Holdings in Gentex Co. (NASDAQ:GNTX)

Ameritas Investment Partners Inc. decreased its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 2.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 94,472 shares of the auto parts company’s stock after selling 2,330 shares during the period. Ameritas Investment Partners Inc.’s holdings in Gentex were worth $3,185,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Neo Ivy Capital Management acquired a new stake in shares of Gentex during the fourth quarter worth $29,000. Quest Partners LLC acquired a new position in shares of Gentex during the 2nd quarter worth about $31,000. Gladius Capital Management LP bought a new stake in shares of Gentex in the 2nd quarter valued at about $34,000. GAMMA Investing LLC raised its position in shares of Gentex by 26.3% in the 1st quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock valued at $63,000 after acquiring an additional 363 shares during the period. Finally, HHM Wealth Advisors LLC bought a new position in Gentex during the 2nd quarter worth approximately $67,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Insider Activity at Gentex

In related news, major shareholder Corp Gentex acquired 3,152,500 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average price 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 in the company, valued at approximately $32,319,040. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on GNTX shares. StockNews.com lowered shares of Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. BNP Paribas downgraded Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research note on Tuesday, July 30th. 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 note on Monday, July 22nd. B. Riley lowered their price target on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a report on Monday, July 29th. Finally, UBS Group began coverage on Gentex in a report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $36.86.

Gentex Price Performance

GNTX stock opened at $29.75 on Friday. The business has a 50-day moving average of $30.66 and a 200-day moving average of $33.33. Gentex Co. has a fifty-two week low of $27.86 and a fifty-two week high of $37.58. The stock has a market capitalization of $6.88 billion, a P/E ratio of 15.74, a P/E/G ratio of 0.96 and a beta of 0.92.

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 for the quarter, compared to the consensus estimate of $623.28 million. Gentex had a return on equity of 17.78% and a net margin of 17.87%. Equities analysts expect that Gentex Co. will post 1.96 EPS for the current year.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors 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 dividend yield of 1.61%. The ex-dividend date of this dividend is Wednesday, October 9th. Gentex’s dividend payout ratio is currently 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.