134,967 Shares in Gentex Corporation $GNTX Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management acquired 134,967 Gentex shares valued at approximately $3.4 million, while institutional investors collectively own 86.76% of the company.
• Gentex exceeded quarterly earnings expectations with EPS of $0.58 versus the $0.50 consensus, although revenue declined 1% year over year to $651.3 million. The company also maintains a $0.12 quarterly dividend, yielding about 2.1% annually.
• Shares opened at $23.40, below the average analyst price target of $26.80. Analyst sentiment remains cautious, with one Buy rating and seven Hold ratings, while two directors recently sold shares.

Assenagon Asset Management S.A. acquired a new position in Gentex Corporation (NASDAQ:GNTX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 134,967 shares of the auto parts company's stock, valued at approximately $3,411,000. Assenagon Asset Management S.A. owned approximately 0.06% of Gentex as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GNTX. Anchor Investment Management LLC acquired a new position in shares of Gentex during the 1st quarter worth approximately $26,000. AdvisorNet Financial Inc raised 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 valued at $52,000 after buying an additional 2,299 shares in the last quarter. Arax Advisory Partners bought a new stake in shares of Gentex in the fourth quarter valued at approximately $52,000. Employees Retirement System of Texas acquired a new stake in Gentex during the fourth quarter worth approximately $56,000. Finally, Clearstead Advisors LLC grew its position in Gentex by 21.4% during the fourth quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company's stock worth $58,000 after buying an additional 437 shares in the last quarter. Institutional investors own 86.76% of the company's stock.

Insider Activity at Gentex

In other Gentex news, Director Brian C. Walker sold 5,939 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $22.98, for a total value of $136,478.22. Following the sale, the director owned 24,205 shares in the company, valued at $556,230.90. This trade represents a 19.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph B. Anderson, Jr. sold 5,939 shares of the business's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $22.98, for a total transaction of $136,478.22. Additional details regarding this sale are available in the official SEC disclosure. 0.55% of the stock is owned by corporate insiders.

Gentex Stock Down 2.2%

NASDAQ:GNTX opened at $23.40 on Thursday. Gentex Corporation has a twelve month low of $20.48 and a twelve month high of $29.38. The stock's 50-day simple moving average is $24.47 and its 200 day simple moving average is $23.50. The firm has a market capitalization of $4.98 billion, a PE ratio of 12.38 and a beta of 0.79.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its earnings results on Friday, July 24th. The auto parts company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.50 by $0.08. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The firm had revenue of $651.30 million during the quarter, compared to the consensus estimate of $669.65 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The business's quarterly revenue was down 1.0% on a year-over-year basis. On average, analysts anticipate that Gentex Corporation will post 2.02 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently disclosed 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. This represents a $0.48 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Wednesday, July 8th. Gentex's dividend payout ratio is currently 25.40%.

Analyst Ratings Changes

A number of equities analysts have commented on GNTX shares. UBS Group restated a "neutral" rating and set a $25.00 price objective (down from $26.00) on shares of Gentex in a research note on Thursday, July 9th. Weiss Ratings raised Gentex from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, June 23rd. Wall Street Zen cut Gentex from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Freedom Capital downgraded Gentex from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 29th. Finally, B. Riley Financial reaffirmed a "buy" rating and set a $29.00 price objective (up from $28.00) on shares of Gentex in a research report on Monday, April 27th. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Gentex currently has an average rating of "Hold" and an average price target of $26.80.

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).

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