Alpha Omega Wealth Management LLC Buys 18,967 Shares of Gentex Co. (NASDAQ:GNTX)

Alpha Omega Wealth Management LLC lifted its position in Gentex Co. (NASDAQ:GNTX - Free Report) by 11.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 188,524 shares of the auto parts company's stock after acquiring an additional 18,967 shares during the quarter. Alpha Omega Wealth Management LLC owned 0.08% of Gentex worth $4,393,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GNTX. Midwest Capital Advisors LLC acquired a new position in Gentex during the 4th quarter worth $26,000. TD Private Client Wealth LLC boosted its position in Gentex by 138.8% during the 4th quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company's stock worth $33,000 after acquiring an additional 662 shares during the period. Harbor Investment Advisory LLC raised its stake in shares of Gentex by 208.2% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company's stock worth $38,000 after buying an additional 1,093 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Gentex by 103.3% in the 1st quarter. UMB Bank n.a. now owns 2,124 shares of the auto parts company's stock worth $49,000 after buying an additional 1,079 shares in the last quarter. Finally, NBC Securities Inc. raised its stake in shares of Gentex by 268,600.0% in the 1st quarter. NBC Securities Inc. now owns 2,687 shares of the auto parts company's stock worth $62,000 after buying an additional 2,686 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

Gentex Trading Down 2.5%

GNTX stock traded down $0.55 during mid-day trading on Friday, hitting $21.72. The stock had a trading volume of 1,756,070 shares, compared to its average volume of 1,842,061. Gentex Co. has a 1-year low of $20.28 and a 1-year high of $35.32. The company has a fifty day moving average of $21.81 and a 200 day moving average of $24.89. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 0.84 and a beta of 0.82.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. Gentex had a return on equity of 16.74% and a net margin of 17.49%. The company had revenue of $576.77 million for the quarter, compared to analyst estimates of $578.68 million. During the same period in the prior year, the firm posted $0.47 EPS. The business's revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Wednesday, July 9th. Gentex's dividend payout ratio is 28.07%.

Insider Activity

In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $22.87, for a total transaction of $86,082.68. Following the transaction, the director now owns 5,939 shares of the company's stock, valued at approximately $135,824.93. This represents a 38.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.45% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on GNTX. Guggenheim dropped their price objective on Gentex from $30.00 to $24.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. UBS Group cut their target price on Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Robert W. Baird reaffirmed a "neutral" rating and set a $25.00 target price (down from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. Baird R W lowered Gentex from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, The Goldman Sachs Group lowered their price target on Gentex from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $28.31.

About Gentex

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.