Wealth Enhancement Advisory Services LLC Raises Holdings in Gentex Corporation (NASDAQ:GNTX)

Wealth Enhancement Advisory Services LLC lifted its position in Gentex Corporation (NASDAQ:GNTX - Free Report) by 42.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 50,056 shares of the auto parts company's stock after purchasing an additional 15,025 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Gentex were worth $1,166,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. TD Private Client Wealth LLC boosted its position in shares of Gentex by 138.8% during the fourth quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company's stock worth $33,000 after purchasing an additional 662 shares in the last quarter. Harbor Investment Advisory LLC lifted its holdings in Gentex by 208.2% during the first quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company's stock worth $38,000 after acquiring an additional 1,093 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Gentex by 103.3% in the first quarter. UMB Bank n.a. now owns 2,124 shares of the auto parts company's stock worth $49,000 after acquiring an additional 1,079 shares in the last quarter. NBC Securities Inc. raised its position in shares of Gentex by 268,600.0% during the first quarter. NBC Securities Inc. now owns 2,687 shares of the auto parts company's stock worth $62,000 after purchasing an additional 2,686 shares during the period. Finally, LRI Investments LLC lifted its holdings in shares of Gentex by 33.2% during the 4th quarter. LRI Investments LLC now owns 2,750 shares of the auto parts company's stock valued at $79,000 after purchasing an additional 686 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

Gentex Price Performance

Shares of GNTX stock traded up $0.36 during trading hours on Wednesday, reaching $23.22. The company had a trading volume of 2,047,754 shares, compared to its average volume of 2,260,490. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 1.09 and a beta of 0.81. The business has a fifty day simple moving average of $21.91 and a 200-day simple moving average of $24.16. Gentex Corporation has a 12 month low of $20.28 and a 12 month high of $35.32.

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

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Wednesday, July 9th. Gentex's dividend payout ratio (DPR) is currently 28.07%.

Insider Transactions at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the firm's stock in a transaction dated 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 directly owned 5,939 shares of the company's stock, valued at approximately $135,824.93. This trade represents a 38.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.45% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Baird R W cut Gentex from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Guggenheim reduced their price target on Gentex from $30.00 to $24.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Robert W. Baird reaffirmed a "neutral" rating and set a $25.00 price target (down from $31.00) on shares of Gentex in a research note on Tuesday, April 15th. The Goldman Sachs Group cut their price objective on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Finally, UBS Group reduced their target price on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Eight 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, the company presently has a consensus rating of "Hold" and a consensus target price of $28.31.

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.