Pacer Advisors Inc. Has $19.23 Million Stock Position in Gentex Corporation $GNTX

Key Points

• Pacer Advisors increased its Gentex stake by 10.1% in the first quarter, bringing its holdings to 880,091 shares valued at approximately $19.23 million. Institutional investors collectively own 86.76% of the company.
• Gentex reported quarterly earnings of $0.58 per share, beating estimates of $0.50, while revenue of $651.3 million fell short of expectations and declined 1% year over year.
• The company paid a quarterly dividend of $0.12, equivalent to an annualized $0.48 dividend and a 2.0% yield. Analysts maintain a consensus “Hold” rating with an average price target of $27.00.

Pacer Advisors Inc. lifted its holdings in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 10.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 880,091 shares of the auto parts company's stock after purchasing an additional 80,848 shares during the period. Pacer Advisors Inc. owned 0.41% of Gentex worth $19,230,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of GNTX. Clearstead Advisors LLC raised its position in Gentex by 21.4% during the 4th quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company's stock worth $58,000 after purchasing an additional 437 shares during the last quarter. Gagnon Securities LLC increased its stake in shares of Gentex by 0.8% in the fourth quarter. Gagnon Securities LLC now owns 55,672 shares of the auto parts company's stock valued at $1,295,000 after buying an additional 458 shares during the period. First Citizens Bank & Trust Co. increased its stake in shares of Gentex by 1.6% in the first quarter. First Citizens Bank & Trust Co. now owns 30,294 shares of the auto parts company's stock valued at $662,000 after buying an additional 487 shares during the period. Sei Investments Co. raised its position in shares of Gentex by 0.3% during the first quarter. Sei Investments Co. now owns 196,776 shares of the auto parts company's stock worth $4,300,000 after acquiring an additional 521 shares during the last quarter. Finally, Orion Porfolio Solutions LLC raised its position in shares of Gentex by 4.5% during the second quarter. Orion Porfolio Solutions LLC now owns 13,025 shares of the auto parts company's stock worth $286,000 after acquiring an additional 562 shares during the last quarter. Institutional investors own 86.76% of the company's stock.

Gentex Price Performance

NASDAQ:GNTX opened at $23.45 on Tuesday. The firm has a 50-day moving average of $24.53 and a 200-day moving average of $23.49. The company has a market cap of $4.99 billion, a PE ratio of 12.41 and a beta of 0.78. Gentex Corporation has a one year low of $20.48 and a one year high of $29.38.

Gentex (NASDAQ:GNTX - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.08. Gentex had a net margin of 15.50% and a return on equity of 16.78%. The business had revenue of $651.30 million for the quarter, compared to analysts' expectations of $669.65 million. During the same period in the previous year, the company earned $0.43 earnings per share. The firm's revenue for the quarter was down 1.0% compared to the same quarter last year. On average, equities research analysts expect that Gentex Corporation will post 1.99 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, July 8th. Gentex's dividend payout ratio (DPR) is currently 25.40%.

Wall Street Analysts Forecast Growth

GNTX has been the subject of a number of recent analyst reports. UBS Group reissued a "neutral" rating and set a $25.00 target price (down from $26.00) on shares of Gentex in a research report on Thursday, July 9th. JPMorgan Chase & Co. upped their price objective on shares of Gentex from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Weiss Ratings upgraded shares of Gentex from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, June 23rd. B. Riley Financial reiterated a "buy" rating and set a $29.00 price objective (up from $28.00) on shares of Gentex in a research report on Monday, April 27th. Finally, Freedom Capital downgraded shares of Gentex from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $27.00.

Insider Transactions at Gentex

In other Gentex news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian C. Walker sold 5,939 shares of Gentex stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. Following the completion of the transaction, the director owned 24,205 shares of the company's stock, valued at $556,230.90. This represents a 19.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.55% of the company's stock.

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).

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