Gotham Asset Management LLC Boosts Holdings in Gentex Corporation $GNTX

Gotham Asset Management LLC lifted its holdings in Gentex Corporation (NASDAQ:GNTX) by 11.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,361,319 shares of the auto parts company’s stock after purchasing an additional 136,112 shares during the period. Gotham Asset Management LLC owned approximately 0.62% of Gentex worth $38,525,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Gentex in the 3rd quarter valued at approximately $38,000. Clearstead Advisors LLC increased its position in shares of Gentex by 82.3% during the third quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 922 shares during the period. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Gentex during the third quarter worth $65,000. Steph & Co. raised its stake in shares of Gentex by 30.5% in the third quarter. Steph & Co. now owns 2,684 shares of the auto parts company’s stock valued at $76,000 after acquiring an additional 627 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Gentex by 2,038.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,512 shares of the auto parts company’s stock valued at $99,000 after acquiring an additional 4,301 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Trading Down 1.6%

Shares of GNTX stock opened at $20.97 on Monday. The company has a market cap of $4.52 billion, a P/E ratio of 12.05 and a beta of 0.76. The firm has a fifty day moving average price of $23.65 and a 200 day moving average price of $24.64. Gentex Corporation has a 12 month low of $20.28 and a 12 month high of $29.38.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, January 30th. The auto parts company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $644.40 million for 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%.Gentex’s quarterly revenue was up 19.0% on a year-over-year basis. During the same period last year, the firm earned $0.39 earnings per share. On average, equities analysts forecast that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, April 8th. Gentex’s dividend payout ratio (DPR) is 27.59%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GNTX shares. UBS Group set a $25.00 target price on Gentex in a research note on Monday, February 2nd. Robert W. Baird set a $26.00 price target on Gentex in a research report on Wednesday, January 14th. Wall Street Zen upgraded Gentex from a “hold” rating to a “buy” rating in a research note on Sunday, March 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a research report on Thursday, January 22nd. Finally, B. Riley Financial cut their target price on shares of Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Gentex presently has an average rating of “Hold” and an average price target of $26.71.

Insider Buying and Selling

In related news, CTO Neil Boehm sold 11,248 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $24.82, for a total value of $279,175.36. Following the completion of the transaction, the chief technology officer directly owned 58,951 shares of the company’s stock, valued at $1,463,163.82. This represents a 16.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Steven R. Downing sold 35,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $24.75, for a total transaction of $866,250.00. Following the completion of the transaction, the chief executive officer owned 211,670 shares in the company, valued at $5,238,832.50. This represents a 14.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 58,133 shares of company stock worth $1,442,313 over the last 90 days. 0.45% of the stock is owned by insiders.

Gentex 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).