Gentex Corporation $GNTX Shares Acquired by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. dramatically increased its stake in Gentex, boosting its holdings by 2,636.4% in the fourth quarter to 799,243 shares worth about $18.6 million. Institutional investors and hedge funds now own 86.76% of the company.
• Gentex reported strong quarterly results, posting EPS of $0.48 versus estimates of $0.44 and revenue of $675.44 million, up 17.1% year over year. Analysts currently have a consensus Hold rating with an average price target of $26.83.
• The company announced a quarterly dividend of $0.12 per share, payable July 22 to shareholders of record on July 8, which implies an annualized yield of 1.8%. Insider selling was also noted, including sales by directors Richard O. Schaum and Brian C. Walker.

Pacer Advisors Inc. boosted its position in Gentex Corporation (NASDAQ:GNTX - Free Report) by 2,636.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 799,243 shares of the auto parts company's stock after purchasing an additional 770,035 shares during the period. Pacer Advisors Inc. owned approximately 0.37% of Gentex worth $18,598,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GNTX. Wellington Management Group LLP lifted its holdings in shares of Gentex by 10.3% in the third quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company's stock valued at $419,636,000 after buying an additional 1,383,203 shares during the period. Bank of Montreal Can raised its position in Gentex by 14,398.7% in the fourth quarter. Bank of Montreal Can now owns 7,726,057 shares of the auto parts company's stock worth $179,785,000 after acquiring an additional 7,672,769 shares in the last quarter. State Street Corp lifted its holdings in Gentex by 1.0% in the 2nd quarter. State Street Corp now owns 7,439,333 shares of the auto parts company's stock valued at $163,591,000 after acquiring an additional 74,779 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Gentex by 2.0% during the 3rd quarter. American Century Companies Inc. now owns 6,742,293 shares of the auto parts company's stock valued at $190,807,000 after purchasing an additional 131,035 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Gentex by 21.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,725,426 shares of the auto parts company's stock worth $190,330,000 after purchasing an additional 1,206,060 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on GNTX shares. UBS Group set a $26.00 target price on shares of Gentex in a research note on Sunday, April 26th. Weiss Ratings reissued a "hold (c-)" rating on shares of Gentex in a research note on Tuesday, June 2nd. Wall Street Zen cut Gentex from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Freedom Capital raised Gentex to a "strong-buy" rating in a report on Friday, March 27th. Finally, JPMorgan Chase & Co. lifted their price target on Gentex from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $26.83.

Gentex Stock Performance

Shares of NASDAQ GNTX opened at $25.95 on Friday. Gentex Corporation has a one year low of $20.48 and a one year high of $29.38. The business has a 50-day moving average price of $23.70 and a two-hundred day moving average price of $23.35. The firm has a market capitalization of $5.53 billion, a PE ratio of 14.58 and a beta of 0.79.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.04. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The business had revenue of $675.44 million during the quarter, compared to analyst estimates of $649.42 million. During the same period in the prior year, the firm earned $0.42 earnings per share. The firm's revenue was up 17.1% compared to the same quarter last year. Research analysts anticipate that Gentex Corporation will post 1.96 EPS for the current year.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.8%. Gentex's dividend payout ratio (DPR) is 26.97%.

Insider Activity

In other news, Director Richard O. Schaum sold 4,815 shares of the business's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $23.31, for a total transaction of $112,237.65. Following the transaction, the director directly owned 81,443 shares in the company, valued at $1,898,436.33. The trade was a 5.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian C. Walker sold 5,939 shares of the company'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. Following the completion of the transaction, the director directly 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 SEC filing for this sale provides additional information. Insiders have sold a total of 16,693 shares of company stock worth $385,194 in the last ninety days. Corporate insiders own 0.55% of the company's stock.

About Gentex

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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