Gentex Corporation $GNTX Shares Purchased by Hendershot Investments Inc.

Hendershot Investments Inc. boosted its holdings in Gentex Corporation (NASDAQ:GNTX) by 7.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 486,286 shares of the auto parts company’s stock after acquiring an additional 33,290 shares during the quarter. Gentex comprises about 1.7% of Hendershot Investments Inc.’s investment portfolio, making the stock its 19th biggest holding. Hendershot Investments Inc.’s holdings in Gentex were worth $13,762,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in shares of Gentex by 33.1% in the 1st quarter. Royal Bank of Canada now owns 189,561 shares of the auto parts company’s stock valued at $4,418,000 after purchasing an additional 47,150 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Gentex by 1.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,321,634 shares of the auto parts company’s stock valued at $30,794,000 after buying an additional 23,454 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Gentex by 255.6% during the 1st quarter. Empowered Funds LLC now owns 81,142 shares of the auto parts company’s stock valued at $1,891,000 after acquiring an additional 58,323 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of Gentex by 3.1% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 85,767 shares of the auto parts company’s stock worth $1,886,000 after acquiring an additional 2,548 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in shares of Gentex by 10.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 248,598 shares of the auto parts company’s stock worth $5,467,000 after acquiring an additional 23,418 shares in the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GNTX has been the subject of several research analyst reports. Wall Street Zen downgraded Gentex from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a report on Thursday, January 22nd. Robert W. Baird set a $26.00 price target on Gentex in a research report on Wednesday, January 14th. B. Riley Financial decreased their price objective on shares of Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. Finally, UBS Group set a $25.00 price objective on shares of Gentex in a research note on Monday, February 2nd. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $26.71.

Insider Activity at Gentex

In other Gentex news, CTO Neil Boehm sold 11,248 shares of Gentex stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $24.82, for a total value of $279,175.36. Following the completion of the sale, the chief technology officer directly owned 58,951 shares of the company’s stock, valued at approximately $1,463,163.82. The trade was a 16.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin C. Nash sold 11,885 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $24.98, for a total value of $296,887.30. Following the completion of the transaction, the chief financial officer owned 59,430 shares of the company’s stock, valued at $1,484,561.40. This trade represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 58,133 shares of company stock valued at $1,442,313. Company insiders own 0.45% of the company’s stock.

Gentex Stock Down 1.2%

Shares of NASDAQ:GNTX opened at $23.40 on Friday. The company has a market capitalization of $5.04 billion, a P/E ratio of 13.45 and a beta of 0.78. Gentex Corporation has a 52-week low of $20.28 and a 52-week high of $29.38. The stock’s fifty day simple moving average is $23.91 and its 200-day simple moving average is $25.06.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, January 30th. The auto parts company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $644.40 million during the quarter, compared to analysts’ expectations of $650.90 million. Gentex had a return on equity of 16.05% and a net margin of 15.19%.The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 EPS. On average, sell-side analysts anticipate that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, April 8th. Gentex’s payout ratio is currently 27.59%.

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).