SBI Okasan Asset Management Co.Ltd. Buys New Holdings in Gentex Corporation $GNTX

SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of Gentex Corporation (NASDAQ:GNTX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 43,100 shares of the auto parts company’s stock, valued at approximately $1,011,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clearstead Advisors LLC lifted its stake in shares of Gentex by 21.4% in the 4th quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock valued at $58,000 after purchasing an additional 437 shares in the last quarter. Arizona State Retirement System increased its position in Gentex by 0.7% during the 3rd quarter. Arizona State Retirement System now owns 66,519 shares of the auto parts company’s stock worth $1,882,000 after purchasing an additional 487 shares in the last quarter. Orion Porfolio Solutions LLC raised its holdings in Gentex by 4.5% in the second quarter. Orion Porfolio Solutions LLC now owns 13,025 shares of the auto parts company’s stock valued at $286,000 after buying an additional 562 shares during the period. Merit Financial Group LLC raised its holdings in Gentex by 2.1% in the fourth quarter. Merit Financial Group LLC now owns 30,641 shares of the auto parts company’s stock valued at $713,000 after buying an additional 635 shares during the period. Finally, Novem Group lifted its position in Gentex by 6.3% during the fourth quarter. Novem Group now owns 11,683 shares of the auto parts company’s stock valued at $272,000 after buying an additional 696 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Gentex Stock Up 0.3%

Shares of NASDAQ:GNTX opened at $24.16 on Friday. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 13.57 and a beta of 0.78. The company has a 50 day moving average of $22.61 and a two-hundred day moving average of $23.09. Gentex Corporation has a 52-week low of $20.48 and a 52-week high of $29.38.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, April 24th. The auto parts company reported $0.48 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 analysts’ expectations of $649.42 million. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 earnings per share. On average, equities analysts anticipate that Gentex Corporation will post 1.96 earnings per share for the current year.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, July 8th. Gentex’s dividend payout ratio is presently 26.97%.

Analysts Set New Price Targets

Several research firms have recently issued reports on GNTX. Freedom Capital raised shares of Gentex to a “strong-buy” rating in a research report on Friday, March 27th. B. Riley Financial restated a “buy” rating and set a $29.00 target price (up from $28.00) on shares of Gentex in a report on Monday, April 27th. UBS Group set a $26.00 price target on Gentex in a report on Sunday, April 26th. Robert W. Baird raised their price objective on Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Finally, Wall Street Zen upgraded Gentex from a “hold” rating to a “buy” rating in a research note on Sunday, March 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $26.83.

Insider Transactions at Gentex

In related news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Brian C. Walker sold 5,939 shares of the 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 completion of the transaction, the director directly owned 24,205 shares of the company’s stock, valued at $556,230.90. This represents a 19.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 16,693 shares of company stock valued at $385,194. 0.55% of the stock is currently owned by insiders.

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).