Altrius Capital Management Inc Takes Position in Gentex Corporation (NASDAQ:GNTX)

Altrius Capital Management Inc bought a new stake in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 176,729 shares of the auto parts company's stock, valued at approximately $4,118,000. Altrius Capital Management Inc owned about 0.08% of Gentex at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vontobel Holding Ltd. purchased a new stake in Gentex in the fourth quarter worth about $210,000. Allworth Financial LP lifted its position in shares of Gentex by 956.6% during the 4th quarter. Allworth Financial LP now owns 6,720 shares of the auto parts company's stock valued at $188,000 after buying an additional 6,084 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of Gentex by 6.0% during the 4th quarter. Sanctuary Advisors LLC now owns 12,994 shares of the auto parts company's stock valued at $367,000 after buying an additional 731 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. lifted its position in shares of Gentex by 0.7% during the 4th quarter. Eubel Brady & Suttman Asset Management Inc. now owns 559,239 shares of the auto parts company's stock valued at $16,067,000 after buying an additional 3,887 shares in the last quarter. Finally, South Dakota Investment Council lifted its position in shares of Gentex by 2.3% during the 4th quarter. South Dakota Investment Council now owns 124,056 shares of the auto parts company's stock valued at $3,564,000 after buying an additional 2,819 shares in the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Gentex Stock Up 1.4%

NASDAQ GNTX traded up $0.29 during trading hours on Monday, reaching $21.54. The company's stock had a trading volume of 1,799,865 shares, compared to its average volume of 1,841,931. The firm's 50-day moving average price is $21.83 and its 200-day moving average price is $24.54. Gentex Corporation has a 1 year low of $20.28 and a 1 year high of $35.32. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.05 and a beta of 0.82.

Gentex (NASDAQ:GNTX - Get Free Report) last issued 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. The business had revenue of $576.77 million for the quarter, compared to analysts' expectations of $578.68 million. Gentex had a return on equity of 16.11% and a net margin of 17.01%. The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 EPS. Equities research analysts anticipate that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The company 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. The ex-dividend date is Wednesday, July 9th. This represents a $0.48 annualized dividend and a dividend yield of 2.23%. Gentex's dividend payout ratio (DPR) is 28.07%.

Insider Transactions at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $22.87, for a total transaction of $86,082.68. Following the sale, the director now directly owns 5,939 shares of the company's stock, valued at $135,824.93. This represents a 38.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.45% of the company's stock.

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.