Quantinno Capital Management LP Boosts Position in Gentex Co. (NASDAQ:GNTX)

Quantinno Capital Management LP boosted its holdings in Gentex Co. (NASDAQ:GNTX - Free Report) by 162.6% during the 4th quarter, according to its most recent disclosure with the SEC. 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 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Midwest Capital Advisors LLC purchased a new stake in shares of Gentex during the fourth quarter valued at approximately $26,000. TD Private Client Wealth LLC raised its stake in shares of Gentex by 138.8% during the fourth quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company's stock valued at $33,000 after purchasing an additional 662 shares during the period. Synergy Asset Management LLC purchased a new stake in shares of Gentex during the fourth quarter valued at approximately $34,000. LRI Investments LLC raised its stake in shares of Gentex by 33.2% during the fourth quarter. LRI Investments LLC now owns 2,750 shares of the auto parts company's stock valued at $79,000 after purchasing an additional 686 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Gentex during the fourth quarter valued at approximately $96,000. Hedge funds and other institutional investors own 86.76% of the company's stock.

Gentex Trading Down 0.9%

GNTX stock opened at $21.96 on Friday. Gentex Co. has a twelve month low of $20.28 and a twelve month high of $35.32. The company has a market capitalization of $4.94 billion, a P/E ratio of 12.48, a PEG ratio of 0.84 and a beta of 0.85. The firm has a 50 day simple moving average of $22.35 and a 200-day simple moving average of $25.87.

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

Gentex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Wednesday, April 9th. Gentex's dividend payout ratio is presently 28.07%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GNTX. JPMorgan Chase & Co. dropped their price objective on shares of Gentex from $34.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. B. Riley reiterated a "buy" rating and set a $32.50 price objective (down previously from $37.00) on shares of Gentex in a research note on Monday, February 3rd. Guggenheim dropped their price objective on shares of Gentex from $30.00 to $24.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. UBS Group decreased their price target on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, Robert W. Baird reissued a "neutral" rating and set a $25.00 price target (down previously from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Gentex currently has an average rating of "Hold" and an average target price of $28.31.

Insiders Place Their Bets

In other Gentex news, Director Joseph B. Anderson, Jr. sold 3,764 shares of Gentex stock in a transaction on Friday, May 16th. The shares were sold at an average price of $22.87, for a total value of $86,082.68. Following the completion of the transaction, the director now owns 5,939 shares of the company's stock, valued at $135,824.93. The trade was a 38.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.45% of the stock is currently 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.

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