Taylor Hoffman Capital Management LLC Buys 11,971 Shares of Gentex Corporation (NASDAQ:GNTX)

Key Points

• Taylor Hoffman Capital Management LLC increased its stake in Gentex Corporation by 8.2%, acquiring an additional 11,971 shares, bringing its total holdings to 158,677 shares valued at approximately $3.72 million.
• Analysts have given Gentex a consensus rating of "Hold," with price targets ranging from $25.00 to $30.00 following updates from multiple firms.
• Gentex recently announced a quarterly dividend of $0.12 per share and initiated a share repurchase program allowing for the buyback of up to 40 million shares, indicating confidence in its stock value.

Taylor Hoffman Capital Management LLC increased its stake in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 8.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 158,677 shares of the auto parts company's stock after acquiring an additional 11,971 shares during the quarter. Taylor Hoffman Capital Management LLC owned about 0.07% of Gentex worth $3,723,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GNTX. Vanguard Group Inc. lifted its position in Gentex by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 22,581,938 shares of the auto parts company's stock worth $526,159,000 after buying an additional 886,785 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Gentex by 46.2% during the 1st quarter. JPMorgan Chase & Co. now owns 7,673,701 shares of the auto parts company's stock worth $178,797,000 after buying an additional 2,424,471 shares in the last quarter. Burgundy Asset Management Ltd. lifted its position in Gentex by 1.6% during the 4th quarter. Burgundy Asset Management Ltd. now owns 5,516,817 shares of the auto parts company's stock worth $158,498,000 after buying an additional 86,929 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Gentex by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,495,516 shares of the auto parts company's stock worth $129,156,000 after buying an additional 192,375 shares in the last quarter. Finally, Epoch Investment Partners Inc. lifted its position in Gentex by 16.0% during the 4th quarter. Epoch Investment Partners Inc. now owns 4,438,938 shares of the auto parts company's stock worth $127,531,000 after buying an additional 611,635 shares in the last quarter. Institutional investors own 86.76% of the company's stock.

Gentex Stock Performance

NASDAQ GNTX traded down $0.36 during trading hours on Friday, reaching $27.33. 1,719,447 shares of the company's stock were exchanged, compared to its average volume of 2,737,028. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 15.44 and a beta of 0.82. Gentex Corporation has a one year low of $20.28 and a one year high of $31.75. The company's 50-day moving average is $23.94 and its two-hundred day moving average is $23.44.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The auto parts company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.08. The company had revenue of $657.86 million during the quarter, compared to analysts' expectations of $591.94 million. Gentex had a net margin of 16.82% and a return on equity of 16.86%. The business's quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the business earned $0.37 EPS. Research analysts predict that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $0.48 annualized dividend and a yield of 1.8%. Gentex's dividend payout ratio (DPR) is currently 27.12%.

Gentex declared that its board has authorized a stock repurchase program on Wednesday, July 16th that permits the company to buyback 40,000,000 outstanding shares. This buyback authorization permits the auto parts company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

GNTX has been the topic of a number of research reports. B. Riley upped their target price on shares of Gentex from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Guggenheim cut their target price 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. Robert W. Baird upped their price target on Gentex from $26.00 to $30.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Gentex in a research note on Friday, July 11th. Finally, Industrial Alliance Securities set a $25.00 price target on Gentex in a research note on Friday, July 11th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $28.63.

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.