Taylor Hoffman Capital Management LLC Grows Holdings in Gentex Co. (NASDAQ:GNTX)

Taylor Hoffman Capital Management LLC grew its stake in Gentex Co. (NASDAQ:GNTX) by 5.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 146,706 shares of the auto parts company’s stock after acquiring an additional 8,102 shares during the period. Gentex comprises 1.5% of Taylor Hoffman Capital Management LLC’s investment portfolio, making the stock its 25th biggest holding. Taylor Hoffman Capital Management LLC’s holdings in Gentex were worth $4,215,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Midwest Capital Advisors LLC purchased a new stake in shares of Gentex in the 4th quarter valued at approximately $26,000. TD Private Client Wealth LLC raised its stake in shares of Gentex by 138.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company’s stock valued at $33,000 after acquiring an additional 662 shares during the period. Synergy Asset Management LLC purchased a new stake in shares of Gentex in the 4th quarter valued at approximately $34,000. LRI Investments LLC raised its stake in shares of Gentex by 33.2% in the 4th quarter. LRI Investments LLC now owns 2,750 shares of the auto parts company’s stock valued at $79,000 after acquiring an additional 686 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Gentex in the 4th quarter valued at approximately $96,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $22.87, for a total transaction of $86,082.68. Following the sale, the director now owns 5,939 shares in the company, valued at approximately $135,824.93. This trade represents a 38.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.45% of the stock is owned by insiders.

Analysts Set New Price Targets

GNTX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. UBS Group dropped their price objective on shares of Gentex from $29.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. B. Riley restated a “buy” rating and issued a $32.50 price objective (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. Baird R W cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Finally, Robert W. Baird restated a “neutral” rating and issued a $25.00 price objective (down previously from $31.00) on shares of Gentex in a report on Tuesday, April 15th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Gentex currently has a consensus rating of “Hold” and an average price target of $28.31.

Gentex Stock Down 2.1%

NASDAQ GNTX opened at $22.56 on Wednesday. Gentex Co. has a 52 week low of $20.28 and a 52 week high of $35.32. The stock has a market capitalization of $5.07 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.84 and a beta of 0.85. The firm has a 50 day moving average of $22.44 and a two-hundred day moving average of $25.95.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. Gentex had a net margin of 17.49% and a return on equity of 16.74%. The business had revenue of $576.77 million during the quarter, compared to analysts’ expectations of $578.68 million. During the same quarter in the prior year, the business posted $0.47 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities research analysts expect that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a yield of 2.13%. Gentex’s payout ratio is currently 28.07%.

About Gentex

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.