Quantinno Capital Management LP Has $12.13 Million Position in Gentex Corporation $GNTX

Quantinno Capital Management LP decreased its position in shares of Gentex Corporation (NASDAQ:GNTX) by 23.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 555,277 shares of the auto parts company’s stock after selling 168,672 shares during the period. Quantinno Capital Management LP owned 0.26% of Gentex worth $12,133,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GNTX. Anchor Investment Management LLC bought a new stake in Gentex in the first quarter worth $26,000. CIBC Private Wealth Group LLC raised its holdings in Gentex by 2,420.7% during the third quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock valued at $58,000 after buying an additional 1,985 shares in the last quarter. Arax Advisory Partners acquired a new stake in shares of Gentex in the fourth quarter worth about $52,000. AdvisorNet Financial Inc lifted its position in shares of Gentex by 2,299.0% in the first quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock worth $52,000 after buying an additional 2,299 shares during the last quarter. Finally, Employees Retirement System of Texas bought a new stake in shares of Gentex during the 4th quarter worth about $56,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Insider Activity

In other Gentex news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian C. Walker sold 5,939 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. Following the completion of the sale, the director owned 24,205 shares of the company’s stock, valued at $556,230.90. This represents a 19.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.55% of the company’s stock.

Gentex Trading Up 0.4%

GNTX opened at $23.45 on Tuesday. Gentex Corporation has a 1-year low of $20.48 and a 1-year high of $29.38. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 12.41 and a beta of 0.78. The business has a 50 day moving average of $24.53 and a 200-day moving average of $23.49.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. Gentex had a net margin of 15.50% and a return on equity of 16.78%. The business had revenue of $651.30 million for the quarter, compared to analyst estimates of $669.65 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. Gentex’s revenue was down 1.0% compared to the same quarter last year. Equities analysts predict that Gentex Corporation will post 1.99 EPS for the current year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, July 8th. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. Gentex’s dividend payout ratio (DPR) is 25.40%.

Wall Street Analysts Forecast Growth

GNTX has been the topic of a number of analyst reports. Robert W. Baird increased their price objective on Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Freedom Capital cut Gentex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. increased their price target on Gentex from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Wall Street Zen lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, UBS Group restated a “neutral” rating and issued a $25.00 price objective (down from $26.00) on shares of Gentex in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $27.00.

About Gentex

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).