Hunter Perkins Capital Management LLC Raises Holdings in Gentex Corporation (NASDAQ:GNTX)

Hunter Perkins Capital Management LLC raised its stake in Gentex Corporation (NASDAQ:GNTX - Free Report) by 37.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 161,184 shares of the auto parts company's stock after acquiring an additional 43,604 shares during the quarter. Hunter Perkins Capital Management LLC owned approximately 0.07% of Gentex worth $3,756,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GNTX. TD Private Client Wealth LLC raised its position in shares of Gentex by 138.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company's stock worth $33,000 after buying an additional 662 shares during the period. Harbor Investment Advisory LLC increased its stake in Gentex by 208.2% during the first quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company's stock worth $38,000 after acquiring an additional 1,093 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Gentex by 103.3% in 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 period. NBC Securities Inc. lifted its stake in shares of Gentex by 268,600.0% in the 1st quarter. NBC Securities Inc. now owns 2,687 shares of the auto parts company's stock valued at $62,000 after purchasing an additional 2,686 shares in the last quarter. Finally, LRI Investments LLC grew its holdings in shares of Gentex by 33.2% during the 4th quarter. LRI Investments LLC now owns 2,750 shares of the auto parts company's stock worth $79,000 after purchasing an additional 686 shares during the period. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $22.87, for a total value of $86,082.68. Following the transaction, the director now owns 5,939 shares in the company, valued at $135,824.93. This represents a 38.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.45% of the stock is currently owned by corporate insiders.

Gentex Price Performance

Gentex stock opened at $21.86 on Friday. The firm has a 50 day simple moving average of $21.87 and a 200-day simple moving average of $24.38. The stock has a market capitalization of $4.91 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 1.07 and a beta of 0.81. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $35.32.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The auto parts company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. Gentex had a net margin of 17.01% and a return on equity of 16.11%. The company had revenue of $576.77 million during the quarter, compared to analyst estimates of $578.68 million. During the same quarter last year, the firm posted $0.47 EPS. The business's revenue for the quarter was down 2.3% on a year-over-year basis. On average, analysts forecast that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

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 paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Wednesday, July 9th. Gentex's dividend payout ratio is presently 28.07%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Baird R W lowered shares of Gentex from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Robert W. Baird reaffirmed a "neutral" rating and set a $25.00 price target (down previously from $31.00) on shares of Gentex in a research note on Tuesday, April 15th. UBS Group lowered their target price on Gentex from $29.00 to $21.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. The Goldman Sachs Group cut their price target on Gentex from $28.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Finally, Guggenheim reduced their price target on Gentex from $30.00 to $24.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Gentex has an average rating of "Hold" and an average price target of $28.31.

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.

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