Gentex Corporation $GNTX Shares Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its position in Gentex Corporation (NASDAQ:GNTX) by 76.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,703 shares of the auto parts company’s stock after purchasing an additional 65,615 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Gentex were worth $3,315,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Hudson Bay Capital Management LP acquired a new stake in Gentex during the 3rd quarter worth approximately $3,613,000. WINTON GROUP Ltd acquired a new stake in shares of Gentex in the third quarter worth $7,258,000. Clark Capital Management Group Inc. purchased a new position in shares of Gentex in the 3rd quarter valued at $8,179,000. Thompson Siegel & Walmsley LLC lifted its holdings in shares of Gentex by 57.1% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 377,484 shares of the auto parts company’s stock valued at $8,784,000 after acquiring an additional 137,245 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Gentex by 3,905.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 700,693 shares of the auto parts company’s stock worth $16,305,000 after purchasing an additional 683,201 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Insider Buying and Selling

In other news, Director Brian C. Walker sold 5,939 shares of Gentex stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. Following the transaction, the director directly owned 24,205 shares in the company, valued at approximately $556,230.90. The trade was a 19.70% decrease in their ownership of the stock. The transaction 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 shares were sold at an average price of $22.98, for a total value of $136,478.22. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,693 shares of company stock worth $385,194 in the last quarter. 0.55% of the stock is currently owned by company insiders.

Gentex Stock Performance

Shares of NASDAQ:GNTX traded down $0.20 during midday trading on Tuesday, hitting $24.27. 550,532 shares of the stock were exchanged, compared to its average volume of 2,315,421. The company has a market capitalization of $5.17 billion, a PE ratio of 13.63 and a beta of 0.78. Gentex Corporation has a 52-week low of $20.48 and a 52-week high of $29.38. The business’s fifty day simple moving average is $24.30 and its two-hundred day simple moving average is $23.48.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, April 24th. The auto parts company reported $0.48 earnings per share 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 return on equity of 16.27% and a net margin of 14.75%.The business’s revenue was up 17.1% compared to the same quarter last year. During the same period last year, the company earned $0.42 earnings per share. As a group, equities analysts anticipate that Gentex Corporation will post 1.97 EPS for the current year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, July 8th. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. Gentex’s dividend payout ratio (DPR) is presently 26.97%.

Analyst Ratings Changes

GNTX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Gentex from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Wall Street Zen upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research note on Saturday. Robert W. Baird increased their price target on Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Freedom Capital raised shares of Gentex to a “strong-buy” rating in a research note on Friday, March 27th. Finally, B. Riley Financial reiterated a “buy” rating and issued a $29.00 price objective (up from $28.00) on shares of Gentex in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.83.

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).