Altrius Capital Management Inc Invests $4.12 Million in Gentex Corporation (NASDAQ:GNTX)

Altrius Capital Management Inc acquired a new position in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 176,729 shares of the auto parts company's stock, valued at approximately $4,118,000. Altrius Capital Management Inc owned 0.08% of Gentex at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GNTX. Bank of New York Mellon Corp raised its stake in Gentex by 16.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company's stock worth $80,079,000 after purchasing an additional 386,461 shares during the period. LPL Financial LLC raised its holdings in shares of Gentex by 31.6% in the 4th quarter. LPL Financial LLC now owns 189,254 shares of the auto parts company's stock worth $5,437,000 after purchasing an additional 45,475 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Gentex in the 4th quarter valued at about $24,479,000. Marshall Wace LLP purchased a new stake in shares of Gentex during the 4th quarter worth about $10,868,000. Finally, BCGM Wealth Management LLC grew its holdings in shares of Gentex by 64.2% during the 4th quarter. BCGM Wealth Management LLC now owns 56,743 shares of the auto parts company's stock worth $1,630,000 after purchasing an additional 22,180 shares during the period. 86.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of Gentex stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $22.87, for a total value of $86,082.68. Following the completion of the transaction, the director now owns 5,939 shares in the company, valued at approximately $135,824.93. This trade represents a 38.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.45% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Gentex Stock Performance

Shares of NASDAQ GNTX traded down $0.17 during midday trading on Wednesday, reaching $21.62. 2,060,723 shares of the company's stock were exchanged, compared to its average volume of 1,847,518. Gentex Corporation has a 52-week low of $20.28 and a 52-week high of $35.32. The business's fifty day moving average price is $21.85 and its two-hundred day moving average price is $24.47. The stock has a market capitalization of $4.86 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 1.08 and a beta of 0.81.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. Gentex had a return on equity of 16.11% and a net margin of 17.01%. The company had revenue of $576.77 million for the quarter, compared to the consensus estimate of $578.68 million. During the same period in the previous year, the business earned $0.47 EPS. Gentex's revenue for the quarter was down 2.3% compared to the same quarter last year. Analysts predict that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, July 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.22%. Gentex's dividend payout ratio (DPR) is presently 28.07%.

Gentex Company Profile

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.