TrueMark Investments LLC Invests $776,000 in Gentex Corporation $GNTX

TrueMark Investments LLC acquired a new stake in Gentex Corporation (NASDAQ:GNTX) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 27,415 shares of the auto parts company’s stock, valued at approximately $776,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Addison Advisors LLC purchased a new stake in shares of Gentex during the second quarter worth $25,000. Steph & Co. acquired a new position in Gentex during the second quarter worth about $45,000. Grey Fox Wealth Advisors LLC purchased a new stake in Gentex during the 3rd quarter valued at about $65,000. Bayforest Capital Ltd acquired a new stake in Gentex in the 2nd quarter valued at about $81,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Gentex by 2,038.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,512 shares of the auto parts company’s stock worth $99,000 after purchasing an additional 4,301 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a research report on Thursday. Robert W. Baird set a $26.00 target price on Gentex in a report on Wednesday, January 14th. The Goldman Sachs Group set a $27.00 price target on Gentex and gave the stock a “neutral” rating in a report on Monday, October 27th. JPMorgan Chase & Co. upped their price objective on shares of Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Finally, UBS Group reaffirmed a “neutral” rating and set a $29.00 target price (up from $28.00) on shares of Gentex in a research note on Monday, October 6th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Gentex presently has a consensus rating of “Hold” and an average target price of $27.86.

Gentex Trading Down 0.6%

Shares of GNTX opened at $23.59 on Friday. The company’s 50-day moving average price is $23.40 and its 200 day moving average price is $25.24. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $29.38. The firm has a market cap of $5.16 billion, a P/E ratio of 13.88 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, October 24th. The auto parts company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Gentex had a net margin of 15.61% and a return on equity of 15.86%. The company had revenue of $570.32 million for the quarter, compared to analyst estimates of $661.10 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. Gentex’s revenue was up 7.7% on a year-over-year basis. Equities research analysts forecast that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Wednesday, January 7th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, January 7th. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. Gentex’s payout ratio is presently 28.24%.

Gentex Company Profile

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).