Gentex Co. (NASDAQ:GNTX) Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. raised its stake in Gentex Co. (NASDAQ:GNTX) by 33.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,054 shares of the auto parts company’s stock after acquiring an additional 14,061 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Gentex were worth $1,890,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Neo Ivy Capital Management purchased a new stake in Gentex during the fourth quarter valued at about $29,000. National Bank of Canada FI grew its position in Gentex by 159.1% during the fourth quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock valued at $30,000 after acquiring an additional 571 shares during the period. Gladius Capital Management LP purchased a new stake in Gentex during the second quarter valued at about $34,000. GAMMA Investing LLC purchased a new stake in Gentex during the fourth quarter valued at about $46,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Gentex during the second quarter worth about $73,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on GNTX shares. B. Riley reduced their price objective on Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. JPMorgan Chase & Co. reduced their price objective on Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. BNP Paribas cut Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research note on Tuesday, July 30th. Robert W. Baird cut their price target on Gentex from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Finally, StockNews.com cut Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $37.33.

Gentex Trading Up 1.3 %

NASDAQ GNTX traded up $0.38 on Monday, hitting $30.02. 766,620 shares of the stock traded hands, compared to its average volume of 1,407,942. The stock has a 50-day moving average of $32.50 and a 200 day moving average of $34.23. Gentex Co. has a twelve month low of $27.86 and a twelve month high of $37.58. The company has a market capitalization of $6.94 billion, a P/E ratio of 15.88, a price-to-earnings-growth ratio of 0.91 and a beta of 0.93.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, July 26th. The auto parts company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.15). The firm had revenue of $572.93 million for the quarter, compared to analyst estimates of $623.28 million. Gentex had a net margin of 17.87% and a return on equity of 17.78%. As a group, equities research analysts expect that Gentex Co. will post 2.02 earnings per share for the current year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Stockholders of record on Friday, July 5th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Friday, July 5th. Gentex’s dividend payout ratio (DPR) is presently 25.40%.

About Gentex

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.