Seizert Capital Partners LLC Takes Position in Gentex Corporation $GNTX

Key Points

• Seizert Capital Partners acquired a new position of 267,863 shares in Gentex (NASDAQ:GNTX) during Q4, valued at about $6.23 million and representing roughly 0.12% of the company.
• Multiple institutional investors — including RBC, Goldman Sachs, Empowered Funds and Invesco — increased their stakes, leaving institutional ownership at about 86.76%.
• Gentex beat Q1 estimates with $0.48 EPS (vs. $0.44 est.) and revenue of $675.4M (up 17.1% YoY), and pays a quarterly dividend of $0.12 (annualized yield ~2.1%).

Seizert Capital Partners LLC acquired a new position in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 267,863 shares of the auto parts company's stock, valued at approximately $6,233,000. Seizert Capital Partners LLC owned approximately 0.12% of Gentex at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GNTX. Royal Bank of Canada lifted its holdings in shares of Gentex by 33.1% in the 1st quarter. Royal Bank of Canada now owns 189,561 shares of the auto parts company's stock valued at $4,418,000 after purchasing an additional 47,150 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Gentex by 1.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,321,634 shares of the auto parts company's stock worth $30,794,000 after acquiring an additional 23,454 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Gentex by 255.6% in the 1st quarter. Empowered Funds LLC now owns 81,142 shares of the auto parts company's stock valued at $1,891,000 after acquiring an additional 58,323 shares during the period. Invesco Ltd. raised its position in Gentex by 8.0% in the 2nd quarter. Invesco Ltd. now owns 813,163 shares of the auto parts company's stock valued at $17,881,000 after purchasing an additional 60,127 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Gentex by 2,038.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,512 shares of the auto parts company's stock worth $99,000 after purchasing an additional 4,301 shares during the period. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Richard O. Schaum sold 4,815 shares of Gentex stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $23.31, for a total transaction of $112,237.65. Following the completion of the sale, the director directly owned 81,443 shares in the company, valued at $1,898,436.33. The trade was a 5.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kevin C. Nash sold 11,885 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $24.98, for a total transaction of $296,887.30. Following the completion of the transaction, the chief financial officer directly owned 59,430 shares of the company's stock, valued at approximately $1,484,561.40. This represents a 16.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 62,948 shares of company stock valued at $1,554,550 over the last quarter. 0.55% of the stock is currently owned by company insiders.

Gentex Price Performance

NASDAQ GNTX opened at $22.75 on Monday. The business has a 50 day moving average price of $22.25 and a 200 day moving average price of $23.24. The company has a market capitalization of $4.86 billion, a P/E ratio of 12.78 and a beta of 0.78. Gentex Corporation has a 1-year low of $20.48 and a 1-year high of $29.38.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. The business had revenue of $675.44 million for the quarter, compared to the consensus estimate of $649.42 million. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The business's revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 earnings per share. On average, research analysts expect that Gentex Corporation will post 1.92 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 8th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, April 8th. Gentex's dividend payout ratio (DPR) is currently 26.97%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. B. Riley Financial reissued a "buy" rating and issued a $29.00 price objective (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. UBS Group set a $26.00 target price on Gentex in a report on Sunday, April 26th. JPMorgan Chase & Co. decreased their target price on shares of Gentex from $28.00 to $27.00 and set a "neutral" rating on the stock in a research report on Thursday, April 23rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Gentex in a research note on Thursday, January 22nd. Finally, Robert W. Baird increased their price target on shares of Gentex from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $26.67.

Gentex 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).

Want to see what other hedge funds are holding GNTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gentex Corporation (NASDAQ:GNTX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.