Gentex Co. (NASDAQ:GNTX) Shares Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lifted its stake in shares of Gentex Co. (NASDAQ:GNTX) by 8.4% during the third quarter, HoldingsChannel.com reports. The firm owned 394,025 shares of the auto parts company’s stock after purchasing an additional 30,670 shares during the period. Wedge Capital Management L L P NC’s holdings in Gentex were worth $11,699,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Phoenix Wealth Advisors grew its stake in Gentex by 3.1% in the 2nd quarter. Phoenix Wealth Advisors now owns 10,196 shares of the auto parts company’s stock valued at $344,000 after acquiring an additional 306 shares during the last quarter. GAMMA Investing LLC grew its stake in Gentex by 26.3% in the 1st quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock valued at $63,000 after acquiring an additional 363 shares during the last quarter. Toronto Dominion Bank grew its stake in Gentex by 0.9% in the 1st quarter. Toronto Dominion Bank now owns 42,346 shares of the auto parts company’s stock valued at $1,530,000 after acquiring an additional 370 shares during the last quarter. JLB & Associates Inc. grew its stake in Gentex by 1.7% in the 1st quarter. JLB & Associates Inc. now owns 24,381 shares of the auto parts company’s stock valued at $881,000 after acquiring an additional 416 shares during the last quarter. Finally, United Services Automobile Association grew its stake in Gentex by 2.5% in the 2nd quarter. United Services Automobile Association now owns 17,447 shares of the auto parts company’s stock valued at $588,000 after acquiring an additional 427 shares during the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Gentex

In related news, major shareholder Corp Gentex acquired 3,152,500 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the acquisition, the insider now directly owns 6,463,808 shares in the company, valued at approximately $32,319,040. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.41% of the company’s stock.

Gentex Price Performance

Gentex stock opened at $29.55 on Tuesday. The stock has a market capitalization of $6.83 billion, a P/E ratio of 15.63, a P/E/G ratio of 0.95 and a beta of 0.92. Gentex Co. has a 12-month low of $27.86 and a 12-month high of $37.58. The firm’s 50-day moving average is $29.79 and its two-hundred day moving average is $32.57.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, July 26th. The auto parts company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.15). The company had revenue of $572.93 million for the quarter, compared to analysts’ expectations of $623.28 million. Gentex had a return on equity of 17.78% and a net margin of 17.87%. As a group, analysts forecast that Gentex Co. will post 1.96 EPS for the current year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, October 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.62%. Gentex’s payout ratio is currently 25.40%.

Analysts Set New Price Targets

A number of brokerages recently commented on GNTX. JPMorgan Chase & Co. lowered their price objective on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. B. Riley lowered their price objective on shares of Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. Robert W. Baird lowered their price objective on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. UBS Group assumed coverage on shares of Gentex in a research note on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price target on the stock. Finally, The Goldman Sachs Group decreased their price target on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.13.

Gentex Company 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.