AGF Management Ltd. Sells 22,525 Shares of Gentex Corporation $GNTX

AGF Management Ltd. lowered its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 16.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 115,629 shares of the auto parts company’s stock after selling 22,525 shares during the period. AGF Management Ltd. owned 0.05% of Gentex worth $3,272,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. lifted its stake in Gentex by 60.5% in the second quarter. American Century Companies Inc. now owns 6,611,258 shares of the auto parts company’s stock valued at $145,382,000 after acquiring an additional 2,492,026 shares during the last quarter. Norges Bank bought a new stake in shares of Gentex in the 2nd quarter valued at about $51,815,000. Qube Research & Technologies Ltd lifted its stake in Gentex by 370.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 2,615,981 shares of the auto parts company’s stock valued at $57,525,000 after purchasing an additional 2,060,287 shares during the last quarter. Deprince Race & Zollo Inc. bought a new position in Gentex during the third quarter worth about $26,283,000. Finally, Global Alpha Capital Management Ltd. bought a new position in Gentex during the second quarter worth about $19,318,000. 86.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a research note on Thursday, January 22nd. UBS Group set a $25.00 price target on Gentex in a research note on Monday. The Goldman Sachs Group set a $27.00 price target on Gentex and gave the company a “neutral” rating in a report on Monday, October 27th. Robert W. Baird set a $26.00 price objective on shares of Gentex in a research report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $26.71.

Gentex Price Performance

GNTX stock opened at $24.86 on Thursday. Gentex Corporation has a fifty-two week low of $20.28 and a fifty-two week high of $29.38. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 14.29 and a beta of 0.78. The business’s fifty day moving average price is $23.64 and its two-hundred day moving average price is $25.29.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, January 30th. The auto parts company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. Gentex had a net margin of 15.19% and a return on equity of 16.05%. The business had revenue of $644.40 million for the quarter, compared to the consensus estimate of $650.90 million. During the same period in the prior year, the company posted $0.39 earnings per share. Gentex’s revenue was up 19.0% compared to the same quarter last year. Research analysts expect that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Wednesday, January 7th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Wednesday, January 7th. Gentex’s payout ratio is 27.59%.

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).