Hsbc Holdings PLC Acquires 101,656 Shares of Gentex Corporation $GNTX

Hsbc Holdings PLC grew its holdings in Gentex Corporation (NASDAQ:GNTX) by 308.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 134,570 shares of the auto parts company’s stock after acquiring an additional 101,656 shares during the period. Hsbc Holdings PLC’s holdings in Gentex were worth $3,141,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Arax Advisory Partners bought a new position in shares of Gentex in the 4th quarter valued at about $52,000. Employees Retirement System of Texas purchased a new position in Gentex in the fourth quarter worth about $56,000. Clearstead Advisors LLC increased its stake in Gentex by 82.3% during the third quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 922 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Gentex by 2,420.7% during the third quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 1,985 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in Gentex during the fourth quarter valued at approximately $63,000. 86.76% of the stock is currently owned by institutional investors.

Gentex Stock Performance

Shares of NASDAQ GNTX opened at $25.65 on Monday. Gentex Corporation has a fifty-two week low of $20.48 and a fifty-two week high of $29.38. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 14.41 and a beta of 0.79. The business’s 50 day moving average price is $24.04 and its 200-day moving average price is $23.44.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The company had revenue of $675.44 million during the quarter, compared to analysts’ expectations of $649.42 million. Gentex had a return on equity of 16.27% and a net margin of 14.75%.Gentex’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 EPS. Sell-side analysts predict that Gentex Corporation will post 1.96 earnings per share for the current year.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, July 8th. Gentex’s payout ratio is currently 26.97%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GNTX shares. Wall Street Zen downgraded Gentex from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings upgraded shares of Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. B. Riley Financial reissued 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. JPMorgan Chase & Co. raised their target price on shares of Gentex from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, Robert W. Baird lifted their price target on shares of Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Gentex currently has an average rating of “Hold” and an average target price of $26.83.

Insider Activity

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

Gentex 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).