Illinois Municipal Retirement Fund grew its stake in Gentex Corporation (NASDAQ:GNTX – Free Report) by 111.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,745 shares of the auto parts company’s stock after acquiring an additional 27,753 shares during the period. Illinois Municipal Retirement Fund’s holdings in Gentex were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Anchor Investment Management LLC bought a new position in Gentex in the 1st quarter worth approximately $26,000. AdvisorNet Financial Inc increased its stake in shares of Gentex by 2,299.0% in the 1st quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock valued at $52,000 after buying an additional 2,299 shares during the period. Arax Advisory Partners bought a new stake in shares of Gentex during the fourth quarter worth $52,000. Employees Retirement System of Texas bought a new stake in shares of Gentex during the fourth quarter worth $56,000. Finally, Clearstead Advisors LLC lifted its stake in shares of Gentex by 21.4% during the fourth quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock valued at $58,000 after acquiring an additional 437 shares during the period. 86.76% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages recently commented on GNTX. UBS Group reiterated a “neutral” rating and issued a $25.00 price objective (down from $26.00) on shares of Gentex in a research report on Thursday, July 9th. Freedom Capital upgraded shares of Gentex to a “strong-buy” rating in a research report on Friday, March 27th. Weiss Ratings raised shares of Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. lifted their price target on shares of Gentex from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Wall Street Zen downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.00.
Insider Transactions at Gentex
In related news, Director Richard O. Schaum sold 4,815 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $23.31, for a total value of $112,237.65. Following the completion of the transaction, the director directly owned 81,443 shares in the company, valued at approximately $1,898,436.33. The trade was a 5.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian C. Walker 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. Following 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,693 shares of company stock valued at $385,194 over the last 90 days. 0.55% of the stock is owned by company insiders.
Gentex Stock Down 0.2%
Shares of NASDAQ GNTX opened at $23.91 on Thursday. Gentex Corporation has a twelve month low of $20.48 and a twelve month high of $29.38. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 13.43 and a beta of 0.78. The company’s fifty day moving average is $24.48 and its 200-day moving average is $23.53.
Gentex (NASDAQ:GNTX – Get Free Report) last released its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The business had revenue of $675.44 million during the quarter, compared to analysts’ expectations of $649.42 million. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 EPS. On average, research analysts anticipate that Gentex Corporation will post 1.97 EPS for the current fiscal year.
Gentex Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, July 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. Gentex’s dividend payout ratio (DPR) is currently 26.97%.
Gentex Company 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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