Gateway Investment Advisers LLC Has $1.33 Million Stock Position in Gentex Co. (NASDAQ:GNTX)

Gateway Investment Advisers LLC lessened its holdings in Gentex Co. (NASDAQ:GNTX) by 11.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,914 shares of the auto parts company’s stock after selling 7,699 shares during the period. Gateway Investment Advisers LLC’s holdings in Gentex were worth $1,326,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Midwest Capital Advisors LLC acquired a new stake in shares of Gentex in the 4th quarter worth about $26,000. TD Private Client Wealth LLC raised its holdings 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 worth $33,000 after acquiring an additional 662 shares during the last quarter. Harbor Investment Advisory LLC raised its holdings in shares of Gentex by 208.2% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company’s stock worth $38,000 after acquiring an additional 1,093 shares during the last quarter. NBC Securities Inc. raised its holdings in shares of Gentex by 268,600.0% in the 1st quarter. NBC Securities Inc. now owns 2,687 shares of the auto parts company’s stock worth $62,000 after acquiring an additional 2,686 shares during the last quarter. Finally, LRI Investments LLC raised its holdings 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 worth $79,000 after acquiring an additional 686 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GNTX shares. UBS Group lowered their target price on shares of Gentex from $29.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Robert W. Baird restated a “neutral” rating and issued a $25.00 target price (down previously from $31.00) on shares of Gentex in a report on Tuesday, April 15th. Baird R W downgraded shares of Gentex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Guggenheim reduced their price objective on shares of Gentex from $30.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group reduced their price objective on shares of Gentex from $28.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Gentex currently has a consensus rating of “Hold” and a consensus price target of $28.31.

Insider Activity

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 value of $86,082.68. Following the completion of the transaction, the director now directly owns 5,939 shares of the company’s stock, valued at approximately $135,824.93. This trade represents a 38.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.45% of the company’s stock.

Gentex Stock Up 0.4%

Gentex stock opened at $21.41 on Monday. Gentex Co. has a twelve month low of $20.28 and a twelve month high of $35.32. The firm has a 50 day moving average price of $21.82 and a 200-day moving average price of $25.15. The company has a market capitalization of $4.81 billion, a P/E ratio of 12.16, a P/E/G ratio of 0.84 and a beta of 0.81.

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

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Wednesday, July 9th. Gentex’s dividend 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.