XXEC Inc. cut its stake in Gentex Corporation (NASDAQ:GNTX – Free Report) by 12.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 263,942 shares of the auto parts company’s stock after selling 36,426 shares during the quarter. Gentex makes up approximately 6.0% of XXEC Inc.’s investment portfolio, making the stock its 7th largest holding. XXEC Inc.’s holdings in Gentex were worth $6,142,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Hudson Bay Capital Management LP acquired a new stake in Gentex during the third quarter worth approximately $3,613,000. WINTON GROUP Ltd bought a new position in Gentex in the 3rd quarter valued at approximately $7,258,000. Clark Capital Management Group Inc. bought a new stake in Gentex during the 3rd quarter worth $8,179,000. Elo Mutual Pension Insurance Co bought a new position in shares of Gentex during the third quarter valued at $726,000. Finally, Thompson Siegel & Walmsley LLC lifted its position in shares of Gentex by 57.1% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 377,484 shares of the auto parts company’s stock worth $8,784,000 after purchasing an additional 137,245 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.
Gentex Stock Performance
GNTX opened at $25.95 on Friday. Gentex Corporation has a 1-year low of $20.48 and a 1-year high of $29.38. The company has a market cap of $5.53 billion, a price-to-earnings ratio of 14.58 and a beta of 0.79. The company’s fifty day moving average price is $23.70 and its two-hundred day moving average price is $23.35.
Gentex Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, July 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.8%. Gentex’s payout ratio is 26.97%.
Insider Buying and Selling at Gentex
In other Gentex news, Director Brian C. Walker sold 5,939 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $22.98, for a total transaction of $136,478.22. Following the completion of the sale, the director directly owned 24,205 shares of the company’s stock, valued at approximately $556,230.90. The trade was a 19.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph B. Anderson, Jr. sold 5,939 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 16,693 shares of company stock worth $385,194. Insiders own 0.55% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on GNTX shares. JPMorgan Chase & Co. boosted their price objective on Gentex from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. UBS Group set a $26.00 target price on Gentex in a report on Sunday, April 26th. Freedom Capital raised Gentex to a “strong-buy” rating in a research note on Friday, March 27th. Wall Street Zen cut Gentex from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Gentex in a research report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.83.
Get Our Latest Stock Report on Gentex
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).
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