Gentex Co. (NASDAQ:GNTX) Stock Position Raised by Voloridge Investment Management LLC

Voloridge Investment Management LLC raised its stake in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 69.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 752,101 shares of the auto parts company's stock after purchasing an additional 308,774 shares during the period. Voloridge Investment Management LLC owned 0.33% of Gentex worth $21,608,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of GNTX. Bank of New York Mellon Corp raised its position in shares of Gentex by 16.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company's stock worth $80,079,000 after buying an additional 386,461 shares during the period. LPL Financial LLC lifted its stake in shares of Gentex by 31.6% in the 4th quarter. LPL Financial LLC now owns 189,254 shares of the auto parts company's stock valued at $5,437,000 after purchasing an additional 45,475 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Gentex during the 4th quarter worth about $24,479,000. Marshall Wace LLP acquired a new stake in Gentex during the 4th quarter worth approximately $10,868,000. Finally, BCGM Wealth Management LLC raised its holdings in Gentex by 64.2% in the fourth quarter. BCGM Wealth Management LLC now owns 56,743 shares of the auto parts company's stock valued at $1,630,000 after buying an additional 22,180 shares during the period. Hedge funds and other institutional investors own 86.76% of the company's stock.

Analyst Upgrades and Downgrades

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

Gentex Price Performance

GNTX traded up $0.30 on Tuesday, reaching $21.92. The company's stock had a trading volume of 1,185,403 shares, compared to its average volume of 1,807,454. Gentex Co. has a 1 year low of $20.28 and a 1 year high of $35.32. The business's 50 day moving average is $22.26 and its 200 day moving average is $25.68. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 0.84 and a beta of 0.85.

Gentex (NASDAQ:GNTX - Get Free Report) last released its earnings results on Friday, April 25th. The auto parts company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The company had revenue of $576.77 million during the quarter, compared to analysts' expectations of $578.68 million. Gentex had a return on equity of 16.74% and a net margin of 17.49%. The business's revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 EPS. As a group, research analysts forecast that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

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

Insider Transactions at Gentex

In other Gentex news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $22.87, for a total transaction of $86,082.68. Following the transaction, the director now owns 5,939 shares of the company's stock, valued at $135,824.93. This trade represents a 38.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.45% of the company's stock.

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.