Independent Advisor Alliance Makes New $1.65 Million Investment in Gentex Corporation $GNTX

Key Points

• Independent Advisor Alliance bought a new stake in Gentex during the fourth quarter, purchasing 71,026 shares valued at about $1.65 million.
• Gentex reported better-than-expected quarterly results, with EPS of $0.48 versus $0.44 expected and revenue of $675.44 million, up 17.1% year over year.
• The company also paid a quarterly dividend of $0.12 per share and has a consensus Wall Street rating of Hold with an average price target of $26.83.

Independent Advisor Alliance acquired a new stake in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 71,026 shares of the auto parts company's stock, valued at approximately $1,653,000.

A number of other large investors have also modified their holdings of GNTX. Royal Bank of Canada increased its holdings in Gentex by 33.1% in the 1st quarter. Royal Bank of Canada now owns 189,561 shares of the auto parts company's stock valued at $4,418,000 after buying an additional 47,150 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Gentex by 1.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,321,634 shares of the auto parts company's stock worth $30,794,000 after acquiring an additional 23,454 shares during the period. Empowered Funds LLC lifted its holdings in shares of Gentex by 255.6% during the 1st quarter. Empowered Funds LLC now owns 81,142 shares of the auto parts company's stock worth $1,891,000 after acquiring an additional 58,323 shares during the period. Invesco Ltd. boosted its position in shares of Gentex by 8.0% during the 2nd quarter. Invesco Ltd. now owns 813,163 shares of the auto parts company's stock valued at $17,881,000 after acquiring an additional 60,127 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Gentex by 2,038.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,512 shares of the auto parts company's stock valued at $99,000 after acquiring an additional 4,301 shares during the period. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Gentex news, Director Richard O. Schaum sold 4,815 shares of Gentex stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $23.31, for a total value of $112,237.65. Following the completion of the transaction, the director owned 81,443 shares in the company, valued at approximately $1,898,436.33. The trade was a 5.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph B. Anderson, Jr. sold 5,939 shares of the business's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 74,826 shares of company stock worth $1,827,507. 0.55% of the stock is currently owned by insiders.

Gentex Stock Down 2.3%

Shares of GNTX stock opened at $22.87 on Friday. The company has a market capitalization of $4.87 billion, a P/E ratio of 12.85 and a beta of 0.78. Gentex Corporation has a 12-month low of $20.48 and a 12-month high of $29.38. The firm has a 50-day moving average price of $22.19 and a 200 day moving average price of $23.08.

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, topping the consensus estimate of $0.44 by $0.04. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The firm had revenue of $675.44 million for the quarter, compared to analysts' expectations of $649.42 million. During the same period in the prior year, the firm earned $0.42 earnings per share. The company's quarterly revenue was up 17.1% compared to the same quarter last year. As a group, research analysts expect that Gentex Corporation will post 1.92 earnings per share for the current year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Wednesday, April 8th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, April 8th. Gentex's dividend payout ratio (DPR) is currently 26.97%.

Wall Street Analyst Weigh In

GNTX has been the subject of several recent research reports. Robert W. Baird increased their price target on shares of Gentex from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Monday, April 27th. B. Riley Financial reiterated a "buy" rating and issued a $29.00 price objective (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. Weiss Ratings reissued a "hold (c)" rating on shares of Gentex in a report on Thursday, January 22nd. UBS Group set a $26.00 target price on Gentex in a research report on Sunday, April 26th. Finally, JPMorgan Chase & Co. boosted their price target on Gentex from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $26.83.

Gentex Company 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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.