Alpha Omega Wealth Management LLC Acquires 18,967 Shares of Gentex Co. (NASDAQ:GNTX)

Alpha Omega Wealth Management LLC lifted its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 11.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 188,524 shares of the auto parts company’s stock after acquiring an additional 18,967 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Gentex were worth $4,393,000 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 business. Bank of New York Mellon Corp boosted its holdings in shares of Gentex by 16.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company’s stock valued at $80,079,000 after acquiring an additional 386,461 shares during the last quarter. LPL Financial LLC lifted its position in Gentex by 31.6% during the fourth quarter. LPL Financial LLC now owns 189,254 shares of the auto parts company’s stock valued at $5,437,000 after purchasing an additional 45,475 shares during the period. Raymond James Financial Inc. purchased a new stake in Gentex in the fourth quarter worth approximately $24,479,000. Marshall Wace LLP bought a new stake in Gentex in the 4th quarter worth approximately $10,868,000. Finally, BCGM Wealth Management LLC raised its stake in Gentex by 64.2% during the 4th quarter. BCGM Wealth Management LLC now owns 56,743 shares of the auto parts company’s stock valued at $1,630,000 after buying an additional 22,180 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on GNTX. Guggenheim dropped their price target on Gentex from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group dropped their target price on Gentex from $28.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. UBS Group cut their price target on Gentex from $29.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Robert W. Baird reiterated a “neutral” rating and issued a $25.00 price objective (down previously from $31.00) on shares of Gentex in a research note on Tuesday, April 15th. Finally, Baird R W lowered shares of Gentex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Gentex presently has an average rating of “Hold” and a consensus price target of $28.31.

Gentex Stock Up 2.9%

NASDAQ GNTX opened at $22.26 on Wednesday. Gentex Co. has a 52 week low of $20.28 and a 52 week high of $35.32. The company has a market capitalization of $5.00 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 0.84 and a beta of 0.82. The stock’s 50-day moving average price is $21.78 and its 200-day moving average price is $25.07.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, April 25th. The auto parts company reported $0.43 EPS for the quarter, hitting analysts’ consensus estimates of $0.43. The company had revenue of $576.77 million for the quarter, compared to analysts’ expectations of $578.68 million. Gentex had a net margin of 17.49% and a return on equity of 16.74%. The firm’s revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.47 EPS. Research analysts anticipate that Gentex Co. will post 2.04 EPS for the current year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Wednesday, July 9th. Gentex’s dividend payout ratio (DPR) is 28.07%.

Insider Activity at Gentex

In related news, Director Joseph B. Anderson, Jr. sold 3,764 shares of Gentex stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $22.87, for a total transaction of $86,082.68. Following the sale, the director now owns 5,939 shares of the company’s stock, valued at approximately $135,824.93. This trade represents a 38.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.45% of the stock is owned by corporate insiders.

Gentex 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.