Y Intercept Hong Kong Ltd Has $3.31 Million Holdings in Gentex Corporation $GNTX

Key Points

• Y Intercept Hong Kong Ltd boosted its Gentex stake by 76.2% in the first quarter, adding 65,615 shares and bringing its total holding to 151,703 shares worth about $3.31 million.
• Gentex reported better-than-expected quarterly results, with EPS of $0.48 versus $0.44 expected and revenue of $675.44 million versus $649.42 million expected. Revenue rose 17.1% year over year.
• The company also declared a quarterly dividend of $0.12 per share, implying an annualized yield of 2.0%. Meanwhile, analysts currently have a consensus Hold rating with an average target price of $26.83.

Y Intercept Hong Kong Ltd raised its stake in Gentex Corporation (NASDAQ:GNTX - Free Report) by 76.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,703 shares of the auto parts company's stock after acquiring an additional 65,615 shares during the period. Y Intercept Hong Kong Ltd owned approximately 0.07% of Gentex worth $3,315,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Royal Bank of Canada grew its position in shares of Gentex by 33.1% in the 1st quarter. Royal Bank of Canada now owns 189,561 shares of the auto parts company's stock valued at $4,418,000 after buying an additional 47,150 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Gentex by 1.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,321,634 shares of the auto parts company's stock valued at $30,794,000 after purchasing an additional 23,454 shares during the last quarter. Empowered Funds LLC increased its position in shares of Gentex by 255.6% during the first quarter. Empowered Funds LLC now owns 81,142 shares of the auto parts company's stock worth $1,891,000 after buying an additional 58,323 shares during the period. Invesco Ltd. raised its stake in Gentex by 8.0% during the second quarter. Invesco Ltd. now owns 813,163 shares of the auto parts company's stock worth $17,881,000 after buying an additional 60,127 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Gentex by 2,038.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,512 shares of the auto parts company's stock valued at $99,000 after buying an additional 4,301 shares during the period. 86.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Brian C. Walker sold 5,939 shares of Gentex stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $22.98, for a total value of $136,478.22. Following the sale, the director owned 24,205 shares in the company, valued at $556,230.90. This trade represents a 19.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard O. Schaum sold 4,815 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 81,443 shares of the company's stock, valued at $1,898,436.33. The trade was a 5.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 16,693 shares of company stock worth $385,194. Company insiders own 0.55% of the company's stock.

Gentex Stock Down 0.8%

GNTX traded down $0.20 on Tuesday, reaching $24.27. 550,532 shares of the company traded hands, compared to its average volume of 2,315,421. The company has a market cap of $5.17 billion, a P/E ratio of 13.63 and a beta of 0.78. The firm has a fifty day simple moving average of $24.30 and a two-hundred day simple moving average of $23.48. Gentex Corporation has a one year low of $20.48 and a one year high of $29.38.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.04. The business had revenue of $675.44 million for the quarter, compared to the consensus estimate of $649.42 million. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The business's revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 EPS. On average, equities analysts forecast that Gentex Corporation will post 1.97 earnings per share for the current year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. Gentex's dividend payout ratio (DPR) is currently 26.97%.

Wall Street Analysts Forecast Growth

GNTX has been the subject of several recent research reports. B. Riley Financial reiterated a "buy" rating and issued a $29.00 target price (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. Wall Street Zen raised shares of Gentex from a "hold" rating to a "buy" rating in a report on Saturday. Robert W. Baird upped their target price on shares of Gentex from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Monday, April 27th. UBS Group set a $26.00 target price on Gentex in a research note on Sunday, April 26th. Finally, Freedom Capital raised shares of Gentex to a "strong-buy" rating in a report on Friday, March 27th. One equities 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 company. Based on data from MarketBeat.com, Gentex presently has a consensus rating of "Hold" and an average target price of $26.83.

Gentex Company Profile

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).

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