XXEC Inc. Makes New $4.66 Million Investment in Gentex Co. (NASDAQ:GNTX)

XXEC Inc. acquired a new stake in shares of Gentex Co. (NASDAQ:GNTX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 129,000 shares of the auto parts company's stock, valued at approximately $4,659,000. Gentex accounts for about 3.5% of XXEC Inc.'s portfolio, making the stock its 12th largest holding. XXEC Inc. owned about 0.06% of Gentex as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Simplicity Solutions LLC raised its stake in Gentex by 6.7% during the 3rd quarter. Simplicity Solutions LLC now owns 23,811 shares of the auto parts company's stock worth $775,000 after acquiring an additional 1,501 shares during the period. Hunter Perkins Capital Management LLC raised its position in shares of Gentex by 21.5% during the 3rd quarter. Hunter Perkins Capital Management LLC now owns 9,600 shares of the auto parts company's stock valued at $312,000 after purchasing an additional 1,700 shares during the period. Oak Family Advisors LLC lifted its stake in shares of Gentex by 22.7% during the 3rd quarter. Oak Family Advisors LLC now owns 200,465 shares of the auto parts company's stock valued at $6,523,000 after buying an additional 37,088 shares in the last quarter. Sheets Smith Wealth Management bought a new position in Gentex in the 3rd quarter worth $385,000. Finally, Hendershot Investments Inc. increased its stake in Gentex by 1.7% in the 3rd quarter. Hendershot Investments Inc. now owns 567,032 shares of the auto parts company's stock worth $18,451,000 after buying an additional 9,418 shares in the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Gentex Stock Performance

GNTX stock traded down $0.56 during trading on Tuesday, hitting $34.30. 1,843,502 shares of the company's stock traded hands, compared to its average volume of 1,437,398. Gentex Co. has a 52 week low of $25.86 and a 52 week high of $37.58. The stock has a market capitalization of $7.93 billion, a price-to-earnings ratio of 18.15, a P/E/G ratio of 0.73 and a beta of 0.99. The business has a fifty day simple moving average of $35.65 and a 200 day simple moving average of $33.15.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings results on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.01). Gentex had a net margin of 18.77% and a return on equity of 19.19%. The business had revenue of $590.23 million during the quarter, compared to the consensus estimate of $600.38 million. During the same period in the previous year, the business posted $0.42 EPS. The firm's revenue was up 7.2% on a year-over-year basis. Research analysts forecast that Gentex Co. will post 2.17 earnings per share for the current fiscal year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, April 5th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Thursday, April 4th. Gentex's dividend payout ratio is currently 25.40%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GNTX. Guggenheim boosted their price objective on Gentex from $40.00 to $41.00 and gave the company a "buy" rating in a research report on Wednesday, April 17th. StockNews.com lowered shares of Gentex from a "buy" rating to a "hold" rating in a report on Monday. The Goldman Sachs Group lifted their price objective on shares of Gentex from $31.00 to $35.00 and gave the company a "neutral" rating in a research report on Monday, January 29th. JPMorgan Chase & Co. upped their target price on shares of Gentex from $36.00 to $37.00 and gave the stock a "neutral" rating in a research report on Thursday, January 25th. Finally, B. Riley lifted their price target on shares of Gentex from $42.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, March 20th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Gentex currently has a consensus rating of "Hold" and an average price target of $37.83.

Insider Activity at Gentex

In other news, Director Richard O. Schaum sold 6,022 shares of the firm's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $33.93, for a total value of $204,326.46. Following the completion of the sale, the director now owns 62,555 shares in the company, valued at approximately $2,122,491.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Kevin C. Nash sold 13,500 shares of the business's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total transaction of $446,040.00. Following the completion of the transaction, the chief financial officer now owns 44,321 shares in the company, valued at approximately $1,464,365.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard O. Schaum sold 6,022 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $33.93, for a total value of $204,326.46. Following the completion of the sale, the director now owns 62,555 shares in the company, valued at approximately $2,122,491.15. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Gentex Profile

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.

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