GAMMA Investing LLC Has $3.23 Million Stake in Gentex Co. (NASDAQ:GNTX)

GAMMA Investing LLC increased its holdings in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 2,604.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 138,798 shares of the auto parts company's stock after acquiring an additional 133,665 shares during the quarter. GAMMA Investing LLC owned approximately 0.06% of Gentex worth $3,234,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GNTX. Choreo LLC raised its stake in Gentex by 27.8% during the fourth quarter. Choreo LLC now owns 14,511 shares of the auto parts company's stock worth $415,000 after acquiring an additional 3,154 shares during the period. Empowered Funds LLC grew its position in Gentex by 4.9% in the 4th quarter. Empowered Funds LLC now owns 22,819 shares of the auto parts company's stock worth $656,000 after purchasing an additional 1,071 shares during the last quarter. Entropy Technologies LP bought a new position in Gentex in the 4th quarter worth about $290,000. Portfolio Design Labs LLC bought a new position in Gentex in the 4th quarter worth about $202,000. Finally, Vontobel Holding Ltd. bought a new position in Gentex in the 4th quarter worth about $210,000. Institutional investors and hedge funds own 86.76% of the company's stock.

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 shares were sold at an average price of $22.87, for a total transaction of $86,082.68. Following the transaction, the director now directly owns 5,939 shares in the company, valued at approximately $135,824.93. This represents a 38.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.45% of the company's stock.

Wall Street Analyst Weigh In

GNTX has been the subject of several recent analyst reports. Robert W. Baird restated a "neutral" rating and issued a $25.00 target price (down previously from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. Baird R W cut shares of Gentex from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Guggenheim decreased their target price on shares of Gentex from $30.00 to $24.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. UBS Group decreased their target price on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, The Goldman Sachs Group decreased their price objective on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Gentex has an average rating of "Hold" and an average target price of $28.31.

Gentex Stock Down 2.5%

GNTX stock traded down $0.55 during trading hours on Friday, hitting $21.72. The company's stock had a trading volume of 1,756,070 shares, compared to its average volume of 1,842,522. The stock has a 50 day moving average price of $21.81 and a two-hundred day moving average price of $24.93. Gentex Co. has a 12 month low of $20.28 and a 12 month high of $35.32. The company has a market capitalization of $4.88 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 0.84 and a beta of 0.82.

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

Gentex Dividend Announcement

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. The ex-dividend date is Wednesday, July 9th. This represents a $0.48 annualized dividend and a dividend yield of 2.21%. Gentex's payout ratio is 28.07%.

Gentex 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.