Los Angeles Capital Management LLC Has $26.50 Million Stake in Gentex Corporation $GNTX

Los Angeles Capital Management LLC decreased its holdings in Gentex Corporation (NASDAQ:GNTX) by 28.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,124,792 shares of the auto parts company’s stock after selling 451,465 shares during the quarter. Los Angeles Capital Management LLC owned 0.51% of Gentex worth $26,500,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of GNTX. DB&C Advisors LLC bought a new position in Gentex in the 4th quarter valued at about $234,000. Taylor Hoffman Capital Management LLC increased its position in Gentex by 2.1% during the 4th quarter. Taylor Hoffman Capital Management LLC now owns 193,965 shares of the auto parts company’s stock worth $4,514,000 after purchasing an additional 3,948 shares in the last quarter. State of Wyoming increased its position in Gentex by 73.9% during the 4th quarter. State of Wyoming now owns 26,231 shares of the auto parts company’s stock worth $610,000 after purchasing an additional 11,145 shares in the last quarter. AXQ Capital LP acquired a new position in Gentex during the 4th quarter worth approximately $1,927,000. Finally, Easterly Investment Partners LLC increased its position in Gentex by 31.0% during the 4th quarter. Easterly Investment Partners LLC now owns 54,214 shares of the auto parts company’s stock worth $1,262,000 after purchasing an additional 12,839 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research report on Sunday, March 8th. UBS Group set a $26.00 target price on Gentex in a research report on Sunday, April 26th. Robert W. Baird increased their target price on Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. JPMorgan Chase & Co. increased their target price on Gentex from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Gentex in a research report on Tuesday, June 2nd. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.83.

Insiders Place Their Bets

In other Gentex news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the business’s 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. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brian C. Walker sold 5,939 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $22.98, for a total transaction of $136,478.22. Following the sale, the director directly owned 24,205 shares in the company, valued at $556,230.90. The trade was 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 valued at $385,194 in the last ninety days. 0.55% of the stock is currently owned by insiders.

Gentex Price Performance

GNTX opened at $24.63 on Monday. Gentex Corporation has a fifty-two week low of $20.48 and a fifty-two week high of $29.38. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 13.84 and a beta of 0.79. The company’s 50 day moving average price is $22.94 and its two-hundred day moving average price is $23.15.

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, topping analysts’ consensus estimates of $0.44 by $0.04. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The firm had revenue of $675.44 million for the quarter, compared to analyst estimates of $649.42 million. During the same period in the previous year, the firm posted $0.42 EPS. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. As a group, equities research analysts predict that Gentex Corporation will post 1.96 EPS for the current year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, July 8th. Gentex’s payout ratio is presently 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).