1,019,037 Shares in Gentex Corporation $GNTX Acquired by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH purchased a new stake in Gentex Corporation (NASDAQ:GNTX) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 1,019,037 shares of the auto parts company’s stock, valued at approximately $22,266,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its position in shares of Gentex by 14,398.7% during the 4th quarter. Bank of Montreal Can now owns 7,726,057 shares of the auto parts company’s stock worth $179,785,000 after buying an additional 7,672,769 shares during the last quarter. Caisse de depot et placement du Quebec boosted its holdings in shares of Gentex by 297.0% in the 4th quarter. Caisse de depot et placement du Quebec now owns 3,144,881 shares of the auto parts company’s stock valued at $73,181,000 after buying an additional 2,352,668 shares in the last quarter. Norges Bank purchased a new position in shares of Gentex in the 4th quarter valued at $52,767,000. Wellington Management Group LLP grew its position in shares of Gentex by 10.3% in the 3rd quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company’s stock valued at $419,636,000 after buying an additional 1,383,203 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Gentex by 25.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,629,380 shares of the auto parts company’s stock worth $154,271,000 after acquiring an additional 1,349,445 shares in 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 set a $26.00 price target on shares of Gentex in a research report on Sunday, April 26th. Freedom Capital raised shares of Gentex to a “strong-buy” rating in a research report on Friday, March 27th. JPMorgan Chase & Co. increased their target price on shares of Gentex from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. B. Riley Financial reissued a “buy” rating and set a $29.00 price target (up from $28.00) on shares of Gentex in a report on Monday, April 27th. Finally, Wall Street Zen cut Gentex from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.83.

Insider Transactions at Gentex

In related news, Director Brian C. Walker sold 5,939 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $22.98, for a total value of $136,478.22. Following the completion of the sale, the director owned 24,205 shares in the company, valued at $556,230.90. This trade represents a 19.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph B. Anderson, Jr. sold 5,939 shares of Gentex stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $22.98, for a total value of $136,478.22. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,693 shares of company stock worth $385,194 over the last ninety days. 0.55% of the stock is currently owned by company insiders.

Gentex Price Performance

Shares of NASDAQ GNTX opened at $25.65 on Monday. The stock has a fifty day moving average price of $24.04 and a 200 day moving average price of $23.44. Gentex Corporation has a 1-year low of $20.48 and a 1-year high of $29.38. The company has a market cap of $5.46 billion, a PE ratio of 14.41 and a beta of 0.79.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. The company had revenue of $675.44 million for the quarter, compared to analysts’ expectations of $649.42 million. Gentex had a net margin of 14.75% and a return on equity of 16.27%. Gentex’s revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. Analysts anticipate that Gentex Corporation will post 1.96 earnings per share for the current fiscal year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $0.48 annualized dividend and a dividend yield of 1.9%. 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).