Twin Capital Management Inc. Purchases Shares of 80,496 Gentex Corporation (NASDAQ:GNTX)

Twin Capital Management Inc. purchased a new stake in Gentex Corporation (NASDAQ:GNTX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 80,496 shares of the auto parts company's stock, valued at approximately $1,876,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. South Dakota Investment Council grew its holdings in shares of Gentex by 67.3% during the first quarter. South Dakota Investment Council now owns 207,540 shares of the auto parts company's stock worth $4,836,000 after buying an additional 83,484 shares during the last quarter. Buckhead Capital Management LLC grew its holdings in shares of Gentex by 35.7% during the first quarter. Buckhead Capital Management LLC now owns 158,227 shares of the auto parts company's stock worth $3,687,000 after buying an additional 41,609 shares during the last quarter. Easterly Investment Partners LLC purchased a new position in shares of Gentex during the first quarter worth about $933,000. Segall Bryant & Hamill LLC grew its holdings in shares of Gentex by 6.4% during the first quarter. Segall Bryant & Hamill LLC now owns 492,911 shares of the auto parts company's stock worth $11,485,000 after buying an additional 29,752 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Gentex by 26.8% during the first quarter. Victory Capital Management Inc. now owns 93,735 shares of the auto parts company's stock worth $2,184,000 after buying an additional 19,799 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GNTX. Industrial Alliance Securities set a $25.00 price target on Gentex in a report on Friday, July 11th. Guggenheim dropped their target price on 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 raised their price target on Gentex from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Friday, July 11th. UBS Group reissued a "neutral" rating and issued a $23.00 price target (up from $21.00) on shares of Gentex in a report on Monday, July 14th. Finally, Baird R W cut Gentex from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Gentex has an average rating of "Hold" and an average target price of $28.28.

Insider Activity at Gentex

In other Gentex news, Director Joseph B. Anderson, Jr. sold 3,764 shares of Gentex stock in a transaction that occurred 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 transaction, the director owned 5,939 shares in the company, valued at approximately $135,824.93. The trade was a 38.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.45% of the stock is owned by corporate insiders.

Gentex Stock Performance

Shares of GNTX stock opened at $22.94 on Monday. Gentex Corporation has a one year low of $20.28 and a one year high of $33.57. The company's 50-day simple moving average is $22.24 and its 200-day simple moving average is $23.57. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 13.42 and a beta of 0.81.

Gentex (NASDAQ:GNTX - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The auto parts company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The firm had revenue of $576.77 million for the quarter, compared to analyst estimates of $578.68 million. Gentex had a net margin of 17.01% and a return on equity of 16.11%. Gentex's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.47 earnings per share. As a group, research analysts forecast that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Announces Dividend

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 paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.09%. Gentex's dividend payout ratio is presently 28.07%.

Gentex announced that its Board of Directors has initiated a share repurchase plan on Wednesday, July 16th that authorizes the company to buyback 40,000,000 shares. This buyback authorization authorizes the auto parts company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Gentex Company 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.

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