Intech Investment Management LLC Lowers Holdings in Gentex Corporation $GNTX

Intech Investment Management LLC decreased its holdings in Gentex Corporation (NASDAQ:GNTX) by 60.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,949 shares of the auto parts company’s stock after selling 49,389 shares during the quarter. Intech Investment Management LLC’s holdings in Gentex were worth $743,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Employees Retirement System of Texas purchased a new position in shares of Gentex in the fourth quarter valued at approximately $56,000. Studio Investment Management LLC increased its stake in shares of Gentex by 13.7% during the fourth quarter. Studio Investment Management LLC now owns 11,418 shares of the auto parts company’s stock worth $266,000 after buying an additional 1,380 shares during the period. Malaga Cove Capital LLC purchased a new stake in shares of Gentex during the fourth quarter worth approximately $618,000. Royce & Associates LP increased its stake in shares of Gentex by 70.9% during the fourth quarter. Royce & Associates LP now owns 179,338 shares of the auto parts company’s stock worth $4,173,000 after buying an additional 74,380 shares during the period. Finally, Clearstead Advisors LLC increased 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 worth $58,000 after buying an additional 437 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Gentex from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Wall Street Zen upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research note on Sunday, March 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Gentex in a research note on Tuesday, June 2nd. Robert W. Baird upped their target price on shares of Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Finally, UBS Group set a $26.00 target price on shares of Gentex in a research note on Sunday, April 26th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $26.83.

Insider Buying and Selling at Gentex

In other Gentex news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $22.98, for a total value of $136,478.22. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Brian C. Walker sold 5,939 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. Following the completion of the transaction, the director owned 24,205 shares in the company, valued at $556,230.90. This represents a 19.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,693 shares of company stock worth $385,194 over the last three months. Insiders own 0.55% of the company’s stock.

Gentex Stock Up 0.3%

Shares of Gentex stock opened at $24.71 on Tuesday. The firm has a market capitalization of $5.26 billion, a P/E ratio of 13.88 and a beta of 0.79. Gentex Corporation has a 52 week low of $20.48 and a 52 week high of $29.38. The firm’s 50 day moving average is $23.00 and its two-hundred day moving average is $23.16.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.44 by $0.04. The company had revenue of $675.44 million for the quarter, compared to analyst estimates of $649.42 million. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The firm’s revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 earnings per share. As a group, research analysts expect that Gentex Corporation will post 1.96 earnings per share for the current fiscal year.

Gentex Announces Dividend

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 $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, July 8th. Gentex’s dividend payout ratio is currently 26.97%.

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).