35,479 Gentex Corporation $GNTX Shares Bought by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH boosted its holdings in Gentex Corporation (NASDAQ:GNTX) by 3.2% in the third quarter, Holdings Channel reports. The institutional investor owned 1,141,490 shares of the auto parts company’s stock after buying an additional 35,479 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Gentex were worth $24,816,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Bank of America Corp DE bought a new position in shares of Gentex during the 2nd quarter worth approximately $29,155,000. MAC Alpha Capital Management LP lifted its stake in shares of Gentex by 36.0% in the second quarter. MAC Alpha Capital Management LP now owns 416,657 shares of the auto parts company’s stock valued at $10,530,000 after buying an additional 110,300 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Gentex by 2,636.4% in the fourth quarter. Pacer Advisors Inc. now owns 799,243 shares of the auto parts company’s stock valued at $18,598,000 after buying an additional 770,035 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Gentex by 25,026.7% during the first quarter. Hillsdale Investment Management Inc. now owns 188,450 shares of the auto parts company’s stock valued at $4,118,000 after buying an additional 187,700 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Gentex during the second quarter valued at about $1,533,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on GNTX. The Goldman Sachs Group downgraded shares of Gentex from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $23.00 to $20.00 in a research report on Tuesday, October 6th. Freedom Capital downgraded Gentex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Wall Street Zen downgraded Gentex from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings lowered Gentex from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Finally, JPMorgan Chase & Co. lowered their price objective on Gentex from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, August 10th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $25.20.

Gentex Price Performance

Shares of GNTX stock opened at $21.11 on Friday. The firm has a 50-day moving average of $22.58 and a 200-day moving average of $23.32. The company has a market cap of $4.50 billion, a P/E ratio of 11.17 and a beta of 0.86. Gentex Corporation has a one year low of $20.48 and a one year high of $26.99.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.08. Gentex had a net margin of 15.50% and a return on equity of 16.78%. The business had revenue of $651.30 million for the quarter, compared to analysts’ expectations of $669.65 million. During the same period in the previous year, the company earned $0.43 earnings per share. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, research analysts expect that Gentex Corporation will post 2.06 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Wednesday, October 7th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $0.48 annualized dividend and a yield of 2.3%. Gentex’s dividend payout ratio (DPR) is 25.40%.

Gentex Company Profile

Gentex Corporation develops, manufactures and supplies technology products for the automotive, aerospace and fire-protection industries. The company is best known for its automatic-dimming rearview mirrors, which use electrochromic technology to reduce glare, as well as related interior and exterior vehicle electronics.

Gentex’s automotive portfolio also includes camera-based driver-assistance systems, connected-car technologies, vehicle lighting and sensing products, biometric and occupant-monitoring systems, and integrated electronic features designed to improve vehicle safety, comfort and convenience.