IFG Advisory LLC Boosts Position in Gentex Co. (NASDAQ:GNTX)

IFG Advisory LLC grew its position in shares of Gentex Co. (NASDAQ:GNTX) by 85.1% during the fourth quarter, HoldingsChannel reports. The firm owned 129,203 shares of the auto parts company’s stock after buying an additional 59,407 shares during the period. IFG Advisory LLC’s holdings in Gentex were worth $4,220,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Belpointe Asset Management LLC raised its stake in shares of Gentex by 414.3% during the first quarter. Belpointe Asset Management LLC now owns 900 shares of the auto parts company’s stock valued at $25,000 after purchasing an additional 725 shares during the period. VisionPoint Advisory Group LLC raised its stake in shares of Gentex by 123.6% during the third quarter. VisionPoint Advisory Group LLC now owns 1,203 shares of the auto parts company’s stock valued at $39,000 after purchasing an additional 665 shares during the period. Quent Capital LLC raised its stake in shares of Gentex by 209.0% during the third quarter. Quent Capital LLC now owns 1,749 shares of the auto parts company’s stock valued at $57,000 after purchasing an additional 1,183 shares during the period. Covestor Ltd raised its stake in shares of Gentex by 79.2% during the first quarter. Covestor Ltd now owns 1,887 shares of the auto parts company’s stock valued at $55,000 after purchasing an additional 834 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Gentex by 31.7% during the first quarter. Steward Partners Investment Advisory LLC now owns 2,774 shares of the auto parts company’s stock valued at $78,000 after purchasing an additional 667 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Insiders Place Their Bets

In other Gentex news, Director Richard O. Schaum sold 6,022 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $33.93, for a total value of $204,326.46. Following the sale, the director now directly owns 62,555 shares in the company, valued at $2,122,491.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Kevin C. Nash sold 13,500 shares of Gentex stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total transaction of $446,040.00. Following the sale, the chief financial officer now directly owns 44,321 shares in the company, valued at $1,464,365.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard O. Schaum sold 6,022 shares of Gentex stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $33.93, for a total transaction of $204,326.46. Following the sale, the director now owns 62,555 shares in the company, valued at $2,122,491.15. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate insiders.

Gentex Price Performance

Gentex stock opened at $36.31 on Thursday. The company has a market cap of $8.41 billion, a PE ratio of 19.73, a P/E/G ratio of 0.96 and a beta of 0.99. The company has a fifty day moving average price of $35.06 and a two-hundred day moving average price of $32.60. Gentex Co. has a 12 month low of $25.85 and a 12 month high of $37.58.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, January 26th. The auto parts company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. The firm had revenue of $589.13 million during the quarter, compared to the consensus estimate of $563.42 million. Gentex had a net margin of 18.63% and a return on equity of 19.25%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.37 earnings per share. Equities research analysts anticipate that Gentex Co. will post 2.16 earnings per share for the current year.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Friday, April 5th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Thursday, April 4th. Gentex’s dividend payout ratio is presently 26.09%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GNTX shares. B. Riley lifted their price objective on shares of Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. StockNews.com raised shares of Gentex from a “hold” rating to a “buy” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. raised their price target on shares of Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Guggenheim raised their price target on shares of Gentex from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, The Goldman Sachs Group raised their price target on shares of Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Gentex has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

Gentex Company 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.