Dimensional Fund Advisors LP Boosts Stake in Gentex Co. (NASDAQ:GNTX)

Dimensional Fund Advisors LP grew its stake in shares of Gentex Co. (NASDAQ:GNTX) by 14.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,989,248 shares of the auto parts company’s stock after buying an additional 489,689 shares during the period. Dimensional Fund Advisors LP owned 1.73% of Gentex worth $134,475,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Neo Ivy Capital Management purchased a new stake in Gentex during the 4th quarter worth about $29,000. Quest Partners LLC purchased a new stake in shares of Gentex during the second quarter worth about $31,000. Gladius Capital Management LP acquired a new position in shares of Gentex in the second quarter valued at approximately $34,000. GAMMA Investing LLC lifted its stake in shares of Gentex by 26.3% during the first 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. Finally, HHM Wealth Advisors LLC acquired a new stake in Gentex during the second quarter worth approximately $67,000. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Stock Performance

GNTX opened at $29.75 on Friday. The company has a market cap of $6.88 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 0.96 and a beta of 0.92. Gentex Co. has a 1 year low of $27.86 and a 1 year high of $37.58. The firm has a 50 day moving average price of $30.66 and a 200 day moving average price of $33.33.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). Gentex had a net margin of 17.87% and a return on equity of 17.78%. The business had revenue of $572.93 million during the quarter, compared to analysts’ expectations of $623.28 million. On average, sell-side analysts predict that Gentex Co. will post 1.96 earnings per share for the current year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Wednesday, October 9th. Gentex’s payout ratio is 25.40%.

Analysts Set New Price Targets

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

Insider Activity at Gentex

In related news, major shareholder Corp Gentex purchased 3,152,500 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the acquisition, the insider now directly owns 6,463,808 shares in the company, valued at $32,319,040. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.41% of the company’s stock.

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.