Headlands Technologies LLC raised its position in Gentex Corporation (NASDAQ:GNTX - Free Report) by 316.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,821 shares of the auto parts company's stock after buying an additional 36,341 shares during the period. Headlands Technologies LLC's holdings in Gentex were worth $1,114,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of GNTX. Larson Financial Group LLC grew its stake in shares of Gentex by 1,471.0% in the 1st quarter. Larson Financial Group LLC now owns 1,084 shares of the auto parts company's stock valued at $25,000 after buying an additional 1,015 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in Gentex by 85.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,222 shares of the auto parts company's stock worth $28,000 after acquiring an additional 563 shares in the last quarter. Harbor Investment Advisory LLC grew its position in Gentex by 208.2% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company's stock worth $38,000 after purchasing an additional 1,093 shares during the last quarter. UMB Bank n.a. grew its position in Gentex by 103.3% during the 1st quarter. UMB Bank n.a. now owns 2,124 shares of the auto parts company's stock worth $49,000 after purchasing an additional 1,079 shares during the last quarter. Finally, NBC Securities Inc. grew its position in Gentex by 268,600.0% during the 1st quarter. NBC Securities Inc. now owns 2,687 shares of the auto parts company's stock worth $62,000 after purchasing an additional 2,686 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.
Gentex Stock Down 0.2%
Shares of NASDAQ:GNTX traded down $0.04 on Friday, reaching $26.62. 1,942,551 shares of the company's stock were exchanged, compared to its average volume of 2,923,992. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 15.04 and a beta of 0.82. Gentex Corporation has a fifty-two week low of $20.28 and a fifty-two week high of $31.75. The business's 50-day moving average is $23.33 and its two-hundred day moving average is $23.43.
Gentex (NASDAQ:GNTX - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The auto parts company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.08. The company had revenue of $657.86 million for the quarter, compared to analysts' expectations of $591.94 million. Gentex had a return on equity of 16.86% and a net margin of 16.82%. The business's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 earnings per share. Analysts predict that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.
Gentex Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, July 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.8%. Gentex's dividend payout ratio (DPR) is 27.12%.
Gentex announced that its board has approved a stock repurchase program on Wednesday, July 16th that authorizes the company to buyback 40,000,000 shares. This buyback authorization authorizes the auto parts company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its stock is undervalued.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on GNTX shares. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Gentex in a report on Friday, July 11th. B. Riley lifted their price objective on Gentex from $28.00 to $32.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Guggenheim cut their price objective 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 boosted their target price on shares of Gentex from $23.00 to $28.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Finally, Wall Street Zen upgraded shares of Gentex from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $28.63.
Read Our Latest Report on GNTX
Insider Buying and Selling at Gentex
In other Gentex news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $22.87, for a total value of $86,082.68. Following the completion of the transaction, the director directly owned 5,939 shares in the company, valued at $135,824.93. This trade represents a 38.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.45% of the company's stock.
Gentex Profile
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Free Report)
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.
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