33,827 Shares in Gentex Corporation $GNTX Bought by Legato Capital Management LLC

Legato Capital Management LLC bought a new position in Gentex Corporation (NASDAQ:GNTX) during the fourth quarter, HoldingsChannel reports. The fund bought 33,827 shares of the auto parts company’s stock, valued at approximately $787,000.

Other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Gentex in the 3rd quarter worth $38,000. Clearstead Advisors LLC grew 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 valued at $58,000 after purchasing an additional 922 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in shares of 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 purchasing an additional 1,985 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Gentex during the fourth quarter valued at about $73,000. Finally, EverSource Wealth Advisors LLC grew its position in 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 worth $99,000 after acquiring an additional 4,301 shares in the last quarter. 86.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on GNTX. Freedom Capital raised shares of Gentex to a “strong-buy” rating in a research note on Friday, March 27th. B. Riley Financial reissued a “buy” rating and issued a $29.00 price objective (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. Wall Street Zen raised shares of Gentex from a “hold” rating to a “buy” rating in a research note on Sunday, March 8th. JPMorgan Chase & Co. raised their price objective on shares of Gentex from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Robert W. Baird raised their price objective on shares of Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $26.83.

Gentex Stock Performance

Shares of GNTX stock opened at $23.85 on Tuesday. The business’s fifty day simple moving average is $22.37 and its 200-day simple moving average is $23.07. The company has a market cap of $5.08 billion, a PE ratio of 13.40 and a beta of 0.78. Gentex Corporation has a 12-month low of $20.48 and a 12-month high of $29.38.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The firm had revenue of $675.44 million for the quarter, compared to analyst estimates of $649.42 million. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 earnings per share. On average, equities analysts forecast that Gentex Corporation will post 1.96 earnings per share for the current year.

Insider Activity at Gentex

In related news, Director Richard O. Schaum sold 4,815 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $23.31, for a total transaction of $112,237.65. Following the completion of the transaction, the director directly owned 81,443 shares in the company, valued at $1,898,436.33. The trade was a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph B. Anderson, Jr. sold 5,939 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $22.98, for a total transaction of $136,478.22. The disclosure for this sale is available in the SEC filing. Insiders sold 16,693 shares of company stock worth $385,194 over the last three months. Company insiders own 0.55% of the company’s stock.

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).