UBS Group AG decreased its position in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 47.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,623,043 shares of the auto parts company's stock after selling 1,460,627 shares during the period. UBS Group AG owned 0.74% of Gentex worth $37,768,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in Gentex by 10.3% in the 3rd quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company's stock valued at $419,636,000 after acquiring an additional 1,383,203 shares during the last quarter. State Street Corp lifted its stake in shares of Gentex by 1.0% during the 2nd quarter. State Street Corp now owns 7,439,333 shares of the auto parts company's stock worth $163,591,000 after purchasing an additional 74,779 shares during the period. American Century Companies Inc. boosted its holdings in shares of Gentex by 2.0% during the third quarter. American Century Companies Inc. now owns 6,742,293 shares of the auto parts company's stock worth $190,807,000 after purchasing an additional 131,035 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Gentex by 21.9% in the third quarter. JPMorgan Chase & Co. now owns 6,725,426 shares of the auto parts company's stock valued at $190,330,000 after purchasing an additional 1,206,060 shares during the period. Finally, Boston Partners grew its position in shares of Gentex by 2.1% in the third quarter. Boston Partners now owns 5,912,491 shares of the auto parts company's stock valued at $167,299,000 after purchasing an additional 123,731 shares during the period. Institutional investors and hedge funds own 86.76% of the company's stock.
Wall Street Analyst Weigh In
GNTX has been the topic of several recent analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Gentex in a research report on Thursday, January 22nd. UBS Group set a $26.00 price target on Gentex in a report on Sunday, April 26th. JPMorgan Chase & Co. cut their price objective on shares of Gentex from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Thursday, April 23rd. B. Riley Financial reissued a "buy" rating and issued a $29.00 target price (up from $28.00) on shares of Gentex in a research report on Monday, April 27th. Finally, Robert W. Baird boosted their target price 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 research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Gentex currently has a consensus rating of "Hold" and an average target price of $26.67.
Get Our Latest Analysis on GNTX
Gentex Trading Down 2.0%
Shares of GNTX opened at $23.08 on Friday. Gentex Corporation has a twelve month low of $20.48 and a twelve month high of $29.38. The firm has a market capitalization of $4.93 billion, a P/E ratio of 12.97 and a beta of 0.78. The stock's fifty day simple moving average is $22.22 and its 200 day simple moving average is $23.18.
Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.44 by $0.04. The company had revenue of $675.44 million during the quarter, compared to analyst estimates of $649.42 million. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The firm's revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 earnings per share. Sell-side analysts predict that Gentex Corporation will post 1.92 earnings per share for the current year.
Gentex Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 8th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, April 8th. Gentex's payout ratio is 26.97%.
Insider Buying and Selling at Gentex
In other news, CEO Steven R. Downing sold 35,000 shares of the firm's stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $24.75, for a total value of $866,250.00. Following the transaction, the chief executive officer owned 211,670 shares of the company's stock, valued at approximately $5,238,832.50. This trade represents a 14.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard O. Schaum sold 4,815 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $23.31, for a total value of $112,237.65. Following the completion of the sale, the director owned 81,443 shares of the company's stock, valued at approximately $1,898,436.33. This represents a 5.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 62,948 shares of company stock valued at $1,554,550 in the last ninety days. Corporate insiders own 0.55% of the company's stock.
About Gentex
(
Free Report)
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).
See Also
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