Oppenheimer Asset Management Inc. Purchases Shares of 6,754 Gentex Co. (NASDAQ:GNTX)

Oppenheimer Asset Management Inc. purchased a new stake in Gentex Co. (NASDAQ:GNTX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 6,754 shares of the auto parts company’s stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Thoroughbred Financial Services LLC increased its stake in Gentex by 11.8% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 12,547 shares of the auto parts company’s stock valued at $422,000 after buying an additional 1,325 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Gentex by 8.5% during the 2nd quarter. Parallel Advisors LLC now owns 19,967 shares of the auto parts company’s stock worth $673,000 after purchasing an additional 1,569 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Gentex by 2.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 384,319 shares of the auto parts company’s stock worth $12,851,000 after purchasing an additional 8,983 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Gentex during the 2nd quarter worth about $9,603,000. Finally, American Century Companies Inc. increased its stake in shares of Gentex by 10.1% during the 2nd quarter. American Century Companies Inc. now owns 95,523 shares of the auto parts company’s stock worth $3,220,000 after purchasing an additional 8,793 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Gentex

In other Gentex news, major shareholder Corp Gentex acquired 3,152,500 shares of the business’s stock in a transaction 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 acquisition, the insider now directly owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.41% of the company’s stock.

Gentex Stock Performance

Shares of GNTX stock opened at $29.75 on Monday. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 0.96 and a beta of 0.92. The company has a 50-day simple moving average of $30.66 and a 200 day simple moving average of $33.30. Gentex Co. has a 52 week low of $27.86 and a 52 week high of $37.58.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.15). The company 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%. Sell-side analysts forecast that Gentex Co. will post 1.96 EPS for the current year.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Wednesday, October 9th. Gentex’s dividend payout ratio is currently 25.40%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GNTX shares. StockNews.com lowered shares of Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. BNP Paribas lowered shares of 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. lowered their price objective on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. B. Riley lowered their price objective on shares of Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. Finally, UBS Group assumed coverage on shares of Gentex in a report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.