Quantinno Capital Management LP Acquires 32,573 Shares of Gentex Co. (NASDAQ:GNTX)

Quantinno Capital Management LP lifted its stake in Gentex Co. (NASDAQ:GNTX - Free Report) by 162.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,601 shares of the auto parts company's stock after buying an additional 32,573 shares during the period. Quantinno Capital Management LP's holdings in Gentex were worth $1,511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in GNTX. Oppenheimer Asset Management Inc. grew its holdings in shares of Gentex by 6.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,445 shares of the auto parts company's stock worth $214,000 after purchasing an additional 457 shares in the last quarter. Scotia Capital Inc. grew its stake in Gentex by 0.5% during the fourth quarter. Scotia Capital Inc. now owns 126,325 shares of the auto parts company's stock worth $3,629,000 after buying an additional 608 shares in the last quarter. Smith Moore & CO. boosted its position in shares of Gentex by 3.5% during the 4th quarter. Smith Moore & CO. now owns 18,666 shares of the auto parts company's stock worth $536,000 after acquiring an additional 632 shares in the last quarter. Treasurer of the State of North Carolina raised its position in Gentex by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 101,711 shares of the auto parts company's stock valued at $2,922,000 after purchasing an additional 640 shares in the last quarter. Finally, Centurion Wealth Management LLC lifted its stake in Gentex by 7.8% during the fourth quarter. Centurion Wealth Management LLC now owns 9,011 shares of the auto parts company's stock worth $259,000 after purchasing an additional 652 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

Wall Street Analysts Forecast Growth

GNTX has been the subject of a number of research analyst reports. Baird R W cut Gentex from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. 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 restated a "neutral" rating and issued a $25.00 price target (down from $31.00) on shares of Gentex in a research note on Tuesday, April 15th. B. Riley reissued a "buy" rating and issued a $32.50 price objective (down previously from $37.00) on shares of Gentex in a research note on Monday, February 3rd. Finally, UBS Group decreased their target price on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Eight investment 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, the stock presently has an average rating of "Hold" and an average price target of $28.31.

Gentex Trading Down 0.9%

GNTX traded down $0.19 during trading on Wednesday, reaching $21.81. 245,805 shares of the company's stock were exchanged, compared to its average volume of 1,805,344. Gentex Co. has a one year low of $20.28 and a one year high of $35.32. The firm has a fifty day moving average price of $22.22 and a two-hundred day moving average price of $25.66. The stock has a market capitalization of $4.90 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 0.84 and a beta of 0.85.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The auto parts company reported $0.43 EPS for the quarter, hitting analysts' consensus estimates of $0.43. The company had revenue of $576.77 million for the quarter, compared to analyst estimates of $578.68 million. Gentex had a net margin of 17.49% and a return on equity of 16.74%. Gentex's revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 earnings per share. Sell-side analysts expect that Gentex Co. will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.20%. Gentex's payout ratio is 28.07%.

Insider Transactions at Gentex

In other Gentex news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $22.87, for a total transaction of $86,082.68. Following the completion of the sale, the director now owns 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 document filed with the SEC, which can be accessed through this hyperlink. 0.45% of the stock is owned by corporate insiders.

About Gentex

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.