Y Intercept Hong Kong Ltd Acquires 36,490 Shares of Gentex Corporation (NASDAQ:GNTX)

Y Intercept Hong Kong Ltd raised its position in Gentex Corporation (NASDAQ:GNTX - Free Report) by 156.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 59,800 shares of the auto parts company's stock after buying an additional 36,490 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Gentex were worth $1,393,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of GNTX. Wellington Management Group LLP increased its stake in Gentex by 6.1% in the 4th quarter. Wellington Management Group LLP now owns 18,023,056 shares of the auto parts company's stock valued at $517,802,000 after purchasing an additional 1,038,912 shares in the last quarter. Burgundy Asset Management Ltd. raised its stake in shares of Gentex by 1.6% during the 4th quarter. Burgundy Asset Management Ltd. now owns 5,516,817 shares of the auto parts company's stock worth $158,498,000 after buying an additional 86,929 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Gentex by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 5,423,820 shares of the auto parts company's stock worth $155,861,000 after buying an additional 55,816 shares in the last quarter. TD Asset Management Inc. grew its stake in Gentex by 7.1% in the 4th quarter. TD Asset Management Inc. now owns 5,415,871 shares of the auto parts company's stock valued at $155,598,000 after acquiring an additional 356,854 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Gentex by 162.4% during the 4th quarter. JPMorgan Chase & Co. now owns 5,249,230 shares of the auto parts company's stock valued at $150,810,000 after acquiring an additional 3,248,434 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company's stock.

Gentex Price Performance

Shares of GNTX traded up $3.82 during trading hours on Friday, reaching $27.42. 6,812,382 shares of the company's stock traded hands, compared to its average volume of 2,467,679. Gentex Corporation has a twelve month low of $20.28 and a twelve month high of $31.75. The business's fifty day simple moving average is $22.37 and its two-hundred day simple moving average is $23.48. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 15.49 and a beta of 0.81.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.08. The firm had revenue of $657.86 million during the quarter, compared to analyst estimates of $591.94 million. Gentex had a return on equity of 16.11% and a net margin of 17.01%. The firm's quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the company posted $0.37 EPS. On average, equities research analysts expect that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Wednesday, July 9th. Gentex's dividend payout ratio (DPR) is currently 27.12%.

Gentex announced that its board has authorized a share buyback program on Wednesday, July 16th that permits the company to buyback 40,000,000 shares. This buyback authorization permits the auto parts company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have weighed in on GNTX. Baird R W downgraded Gentex from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. UBS Group reaffirmed a "neutral" rating and set a $23.00 price objective (up previously from $21.00) on shares of Gentex in a research note on Monday, July 14th. Wall Street Zen raised shares of Gentex from a "hold" rating to a "buy" rating in a research note on Saturday. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Gentex in a research note on Friday, July 11th. Finally, Robert W. Baird boosted their price objective on shares of Gentex from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Gentex presently has an average rating of "Hold" and a consensus target price of $28.28.

Insider Activity

In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $22.87, for a total value of $86,082.68. Following the completion of the sale, the director owned 5,939 shares in the company, valued at $135,824.93. This represents a 38.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.45% of the stock is owned by corporate 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.