70,510 Shares of Gentex Corporation $GNTX Purchased by Villanova Investment Management Co

Villanova Investment Management Co purchased a new stake in Gentex Corporation (NASDAQ:GNTX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 70,510 shares of the auto parts company’s stock, valued at approximately $1,533,000.

Several other hedge funds have also modified their holdings of the company. XXEC Inc. purchased a new stake in shares of Gentex in the second quarter valued at approximately $7,705,220,000. BlackRock Inc. acquired a new stake in shares of Gentex in the second quarter valued at about $550,287,000. Dimensional Fund Advisors LP raised its holdings in Gentex by 12.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,463,299 shares of the auto parts company’s stock valued at $163,067,000 after acquiring an additional 833,919 shares during the last quarter. Caisse de depot et placement du Quebec purchased a new position in Gentex during the second quarter worth approximately $79,924,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Gentex by 21.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,995,044 shares of the auto parts company’s stock worth $65,442,000 after acquiring an additional 534,905 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Robert W. Baird reduced their price target on Gentex from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, October 26th. JPMorgan Chase & Co. dropped their price objective on Gentex from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Monday, October 26th. Weiss Ratings lowered Gentex from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. The Goldman Sachs Group cut Gentex from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $23.00 to $20.00 in a research note on Tuesday, October 6th. Finally, Seaport Research Partners set a $25.00 price objective on shares of Gentex in a research report on Monday, October 26th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $23.08.

Gentex Price Performance

GNTX stock opened at $20.21 on Friday. The company has a fifty day moving average price of $21.66 and a 200 day moving average price of $23.03. Gentex Corporation has a 12 month low of $19.75 and a 12 month high of $26.48. The company has a market cap of $4.30 billion, a price-to-earnings ratio of 10.62 and a beta of 0.85.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, October 23rd. The auto parts company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Gentex had a return on equity of 16.67% and a net margin of 15.15%. The business had revenue of $647.71 million for the quarter, compared to analyst estimates of $669.69 million. During the same quarter in the prior year, the company earned $0.46 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, analysts anticipate that Gentex Corporation will post 2.02 earnings per share for the current year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 21st. Stockholders of record on Wednesday, October 7th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, October 7th. Gentex’s dividend payout ratio is presently 25.81%.

Gentex Company Profile

Gentex Corporation (NASDAQ:GNTX) is a technology manufacturer headquartered in Zeeland, Michigan. Founded in 1974, the company develops products primarily for the automotive industry, along with selected applications in the aerospace and fire-protection markets.

Gentex is best known for its automatic-dimming rearview and side-view mirrors, which use electrochromic technology to reduce glare. Its automotive product portfolio also includes camera-based driver-assistance systems, digital vision and sensing technologies, connected-car products, overhead console systems, and HomeLink universal garage-door and home-control systems.