Penserra Capital Management LLC Purchases Shares of 13,035 Gentex Corporation (NASDAQ:GNTX)

Penserra Capital Management LLC bought a new stake in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 13,035 shares of the auto parts company's stock, valued at approximately $303,000.

Several other institutional investors have also recently made changes to their positions in GNTX. Jones Financial Companies Lllp grew its stake in Gentex by 382.4% in the 4th quarter. Jones Financial Companies Lllp now owns 5,731 shares of the auto parts company's stock valued at $165,000 after acquiring an additional 4,543 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Gentex by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,560,100 shares of the auto parts company's stock valued at $44,822,000 after acquiring an additional 5,277 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Gentex by 65.2% during the fourth quarter. Victory Capital Management Inc. now owns 73,936 shares of the auto parts company's stock worth $2,124,000 after buying an additional 29,168 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Gentex during the fourth quarter worth $892,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Gentex during the fourth quarter worth $24,479,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Trading Down 0.9%

Shares of GNTX stock traded down $0.20 during mid-day trading on Friday, reaching $23.08. The stock had a trading volume of 2,209,646 shares, compared to its average volume of 1,895,115. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $35.32. The company has a market cap of $5.19 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 1.15 and a beta of 0.81. The business has a 50-day simple moving average of $22.13 and a 200 day simple moving average of $23.85.

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

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Wednesday, July 9th. Gentex's dividend payout ratio is presently 28.07%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GNTX shares. The Goldman Sachs Group dropped their target price on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Robert W. Baird upped their target price on shares of Gentex from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Friday. UBS Group lowered their price target on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Guggenheim lowered their price target on shares of Gentex from $30.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Baird R W cut shares of Gentex from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Gentex has an average rating of "Hold" and a consensus price target of $28.44.

Insider Buying and Selling

In other Gentex news, Director Joseph B. Anderson, Jr. sold 3,764 shares of Gentex 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 completion of the sale, the director owned 5,939 shares in the company, valued at $135,824.93. The trade was a 38.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.45% of the company's stock.

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.