Hsbc Holdings PLC Increases Position in Gentex Corporation $GNTX

Key Points

• HSBC Holdings PLC boosted its Gentex position by 308.9% in the fourth quarter, ending with 134,570 shares valued at about $3.14 million.
• Several other institutional investors also increased their stakes, and hedge funds and other institutions now own 86.76% of Gentex shares.
• Gentex reported solid quarterly results, with earnings of $0.48 per share versus $0.44 expected and revenue of $675.44 million, while also declaring a quarterly dividend of $0.12 per share.

Hsbc Holdings PLC increased its position in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 308.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,570 shares of the auto parts company's stock after purchasing an additional 101,656 shares during the period. Hsbc Holdings PLC owned 0.06% of Gentex worth $3,141,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GNTX. Clearstead Advisors LLC boosted its holdings in Gentex by 21.4% in the 4th quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company's stock worth $58,000 after buying an additional 437 shares during the period. Gagnon Securities LLC raised its holdings in Gentex by 0.8% during the fourth quarter. Gagnon Securities LLC now owns 55,672 shares of the auto parts company's stock valued at $1,295,000 after acquiring an additional 458 shares during the period. First Citizens Bank & Trust Co. raised its holdings in Gentex by 1.9% during the fourth quarter. First Citizens Bank & Trust Co. now owns 29,807 shares of the auto parts company's stock valued at $694,000 after acquiring an additional 559 shares during the period. Orion Porfolio Solutions LLC lifted its position in shares of Gentex by 4.5% in the second quarter. Orion Porfolio Solutions LLC now owns 13,025 shares of the auto parts company's stock valued at $286,000 after acquiring an additional 562 shares in the last quarter. Finally, Merit Financial Group LLC lifted its position in shares of Gentex by 2.1% in the fourth quarter. Merit Financial Group LLC now owns 30,641 shares of the auto parts company's stock valued at $713,000 after acquiring an additional 635 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company's stock.

Insider Activity at Gentex

In other Gentex news, Director Richard O. Schaum sold 4,815 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $23.31, for a total transaction of $112,237.65. Following the completion of the transaction, the director owned 81,443 shares in the company, valued at $1,898,436.33. This trade represents a 5.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph B. Anderson, Jr. sold 5,939 shares of Gentex stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 16,693 shares of company stock valued at $385,194. Insiders own 0.55% of the company's stock.

Analyst Ratings Changes

GNTX has been the subject of several research analyst reports. Weiss Ratings upgraded Gentex from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, June 23rd. Robert W. Baird boosted their price target on Gentex from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Monday, April 27th. UBS Group set a $26.00 price target on Gentex in a research note on Sunday, April 26th. Wall Street Zen downgraded Gentex from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Finally, Freedom Capital raised shares of Gentex to a "strong-buy" rating in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, Gentex presently has an average rating of "Hold" and an average target price of $26.83.

Gentex Price Performance

Shares of GNTX stock opened at $25.65 on Monday. The stock has a market cap of $5.46 billion, a P/E ratio of 14.41 and a beta of 0.79. Gentex Corporation has a 52 week low of $20.48 and a 52 week high of $29.38. The company's fifty day simple moving average is $24.04 and its two-hundred day simple moving average is $23.44.

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

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors 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 yield of 1.9%. Gentex's dividend payout ratio is presently 26.97%.

Gentex Profile

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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