Gentex Co. (NASDAQ:GNTX) Shares Acquired by XXEC Inc.

XXEC Inc. grew its stake in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 83.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 293,831 shares of the auto parts company's stock after purchasing an additional 133,948 shares during the quarter. Gentex makes up approximately 5.9% of XXEC Inc.'s investment portfolio, making the stock its 6th largest position. XXEC Inc. owned approximately 0.13% of Gentex worth $6,846,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Harbor Investment Advisory LLC lifted its position in shares of Gentex by 208.2% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company's stock worth $38,000 after purchasing an additional 1,093 shares during the period. NBC Securities Inc. lifted 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 valued at $62,000 after buying an additional 2,686 shares during the last quarter. 180 Wealth Advisors LLC lifted its position in shares of Gentex by 6.2% during the first quarter. 180 Wealth Advisors LLC now owns 69,874 shares of the auto parts company's stock valued at $1,628,000 after buying an additional 4,069 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Gentex by 2,604.0% during the first quarter. GAMMA Investing LLC now owns 138,798 shares of the auto parts company's stock valued at $3,234,000 after buying an additional 133,665 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Gentex during the first quarter valued at about $93,000. Hedge funds and other institutional investors own 86.76% of the company's stock.

Gentex Price Performance

Shares of GNTX traded up $0.14 during mid-day trading on Thursday, reaching $21.46. The stock had a trading volume of 1,040,719 shares, compared to its average volume of 1,825,273. The business's fifty day moving average is $21.90 and its 200 day moving average is $25.32. Gentex Co. has a 52-week low of $20.28 and a 52-week high of $35.32. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 12.19, a P/E/G ratio of 0.84 and a beta of 0.85.

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 (EPS) for the quarter, meeting the consensus estimate of $0.43. Gentex had a net margin of 17.49% and a return on equity of 16.74%. The company had revenue of $576.77 million during the quarter, compared to the consensus estimate of $578.68 million. During the same quarter in the prior year, the firm posted $0.47 earnings per share. Gentex's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors 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 yield of 2.24%. The ex-dividend date of this dividend is Wednesday, July 9th. Gentex's dividend payout ratio (DPR) is 28.07%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GNTX shares. UBS Group decreased their target price on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Baird R W lowered Gentex from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Robert W. Baird reaffirmed a "neutral" rating and issued a $25.00 price target (down previously from $31.00) on shares of Gentex in a report on Tuesday, April 15th. The Goldman Sachs Group reduced their price objective on Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Finally, 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. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $28.31.

Insider Buying and Selling

In other Gentex news, Director Joseph B. Anderson, Jr. sold 3,764 shares of Gentex stock in a transaction 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 completion of the transaction, the director now owns 5,939 shares of the company's stock, valued at $135,824.93. The trade was a 38.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.45% of the stock is currently owned by company insiders.

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.