Lightrock Netherlands B.V. raised its holdings in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 49.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 490,384 shares of the auto parts company's stock after acquiring an additional 163,341 shares during the quarter. Gentex makes up approximately 3.0% of Lightrock Netherlands B.V.'s holdings, making the stock its 13th biggest position. Lightrock Netherlands B.V. owned approximately 0.22% of Gentex worth $11,445,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in GNTX. JPMorgan Chase & Co. grew its stake in shares of Gentex by 162.4% in the fourth quarter. JPMorgan Chase & Co. now owns 5,249,230 shares of the auto parts company's stock valued at $150,810,000 after buying an additional 3,248,434 shares in the last quarter. Norges Bank bought a new position in shares of Gentex in the fourth quarter valued at $51,959,000. Wellington Management Group LLP grew its stake in shares of Gentex by 6.1% in the fourth quarter. Wellington Management Group LLP now owns 18,023,056 shares of the auto parts company's stock valued at $517,802,000 after buying an additional 1,038,912 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Gentex in the fourth quarter valued at $24,479,000. Finally, American Century Companies Inc. grew its stake in shares of Gentex by 66.9% in the fourth quarter. American Century Companies Inc. now owns 1,657,397 shares of the auto parts company's stock valued at $47,617,000 after buying an additional 664,389 shares in the last quarter. 86.76% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have commented on GNTX. Robert W. Baird reaffirmed a "neutral" rating and set a $25.00 price objective (down from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. The Goldman Sachs Group reduced their price objective on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. UBS Group dropped their target price on Gentex from $29.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Baird R W downgraded Gentex from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, Guggenheim dropped their target price on Gentex from $30.00 to $24.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $28.31.
Get Our Latest Stock Report on Gentex
Gentex Trading Down 0.5%
Shares of NASDAQ GNTX opened at $23.11 on Friday. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 1.14 and a beta of 0.81. Gentex Corporation has a 12 month low of $20.28 and a 12 month high of $35.32. The stock has a 50-day moving average price of $22.00 and a two-hundred day moving average price of $24.06.
Gentex (NASDAQ:GNTX - Get Free Report) last issued its earnings results on Friday, April 25th. The auto parts company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The firm had revenue of $576.77 million during the quarter, compared to the consensus estimate of $578.68 million. Gentex had a return on equity of 16.11% and a net margin of 17.01%. The business's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.47 earnings per share. On average, sell-side analysts predict that Gentex Corporation will post 2.04 earnings per share for the current year.
Gentex Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.08%. The ex-dividend date is Wednesday, July 9th. Gentex's dividend payout ratio (DPR) is presently 28.07%.
Insider Transactions at Gentex
In related news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $22.87, for a total value of $86,082.68. Following the completion of the sale, the director directly owned 5,939 shares of the company's stock, valued at approximately $135,824.93. This represents a 38.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.45% of the company's stock.
About Gentex
(
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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