QSV Equity Investors LLC Purchases 54,248 Shares of Gentex Corporation $GNTX

QSV Equity Investors LLC raised its position in shares of Gentex Corporation (NASDAQ:GNTX) by 500.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 65,095 shares of the auto parts company’s stock after buying an additional 54,248 shares during the quarter. Gentex comprises about 1.5% of QSV Equity Investors LLC’s investment portfolio, making the stock its 28th largest holding. QSV Equity Investors LLC’s holdings in Gentex were worth $1,431,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. First Trust Advisors LP raised its stake in shares of Gentex by 18.5% during the 2nd quarter. First Trust Advisors LP now owns 2,674,997 shares of the auto parts company’s stock worth $58,823,000 after acquiring an additional 416,686 shares in the last quarter. XXEC Inc. grew its holdings in Gentex by 2.5% in the second quarter. XXEC Inc. now owns 301,317 shares of the auto parts company’s stock worth $6,626,000 after purchasing an additional 7,486 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Gentex by 2,038.4% during the second quarter. EverSource Wealth Advisors LLC now owns 4,512 shares of the auto parts company’s stock worth $99,000 after purchasing an additional 4,301 shares in the last quarter. Invesco Ltd. increased its position in shares of Gentex by 8.0% during the second quarter. Invesco Ltd. now owns 813,163 shares of the auto parts company’s stock worth $17,881,000 after purchasing an additional 60,127 shares in the last quarter. Finally, Systematic Financial Management LP lifted its holdings in shares of Gentex by 4.4% during the 2nd quarter. Systematic Financial Management LP now owns 384,136 shares of the auto parts company’s stock valued at $8,447,000 after purchasing an additional 16,181 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Trading Up 0.8%

GNTX opened at $23.00 on Thursday. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $31.25. The firm has a 50 day moving average of $24.66 and a two-hundred day moving average of $24.80. The firm has a market capitalization of $5.04 billion, a PE ratio of 13.53 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, October 24th. The auto parts company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Gentex had a return on equity of 15.86% and a net margin of 15.61%.The business had revenue of $570.32 million during the quarter, compared to analyst estimates of $661.10 million. During the same quarter in the previous year, the company earned $0.53 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, analysts predict that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Wednesday, January 7th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, January 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. Gentex’s dividend payout ratio (DPR) is presently 28.24%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GNTX. JPMorgan Chase & Co. boosted their target price on Gentex from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Robert W. Baird set a $29.00 price target on Gentex in a research note on Monday, October 27th. The Goldman Sachs Group set a $27.00 price objective on shares of Gentex and gave the company a “neutral” rating in a research report on Monday, October 27th. Zacks Research downgraded shares of Gentex from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Finally, UBS Group restated a “neutral” rating and set a $29.00 price target (up previously from $28.00) on shares of Gentex in a research note on Monday, October 6th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $28.29.

Gentex 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.