Gentex Corporation $GNTX Shares Purchased by Gotham Asset Management LLC

Gotham Asset Management LLC boosted its stake in Gentex Corporation (NASDAQ:GNTX) by 11.1% in the third quarter, Holdings Channel.com reports. The fund owned 1,361,319 shares of the auto parts company’s stock after buying an additional 136,112 shares during the quarter. Gotham Asset Management LLC’s holdings in Gentex were worth $38,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. CWM LLC increased its position in shares of Gentex by 5.1% during the third quarter. CWM LLC now owns 9,648 shares of the auto parts company’s stock worth $273,000 after purchasing an additional 467 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Gentex by 0.7% in the 3rd quarter. Arizona State Retirement System now owns 66,519 shares of the auto parts company’s stock valued at $1,882,000 after purchasing an additional 487 shares during the period. Orion Porfolio Solutions LLC boosted its position in shares of Gentex by 4.5% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 13,025 shares of the auto parts company’s stock valued at $286,000 after purchasing an additional 562 shares during the period. Steph & Co. grew its stake in Gentex by 30.5% during the 3rd quarter. Steph & Co. now owns 2,684 shares of the auto parts company’s stock worth $76,000 after buying an additional 627 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Gentex by 5.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 12,509 shares of the auto parts company’s stock worth $275,000 after buying an additional 634 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Neil Boehm sold 11,248 shares of Gentex stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $24.82, for a total value of $279,175.36. Following the sale, the chief technology officer directly owned 58,951 shares in the company, valued at $1,463,163.82. The trade was a 16.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin C. Nash sold 11,885 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $24.98, for a total value of $296,887.30. Following the transaction, the chief financial officer directly owned 59,430 shares in the company, valued at $1,484,561.40. This represents a 16.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 58,133 shares of company stock worth $1,442,313. Company insiders own 0.45% of the company’s stock.

Gentex Stock Performance

GNTX stock opened at $20.97 on Monday. The stock has a market capitalization of $4.52 billion, a PE ratio of 12.05 and a beta of 0.76. The company has a fifty day moving average of $23.65 and a 200-day moving average of $24.64. Gentex Corporation has a one year low of $20.28 and a one year high of $29.38.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, January 30th. The auto parts company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $644.40 million for the quarter, compared to analyst estimates of $650.90 million. Gentex had a net margin of 15.19% and a return on equity of 16.05%. The business’s revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 earnings per share. Equities analysts forecast that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 8th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, April 8th. This represents a $0.48 annualized dividend and a yield of 2.3%. Gentex’s payout ratio is presently 27.59%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GNTX. UBS Group set a $25.00 price objective on Gentex in a research note on Monday, February 2nd. Robert W. Baird set a $26.00 target price on shares of Gentex in a research report on Wednesday, January 14th. B. Riley Financial cut their target price on shares of Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Wall Street Zen upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research report on Sunday, March 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $26.71.

About Gentex

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).