Lightrock Netherlands B.V. Sells 298,000 Shares of Gentex Corporation $GNTX

by · The Cerbat Gem

Lightrock Netherlands B.V. cut its holdings in Gentex Corporation (NASDAQ:GNTX – Free Report) by 60.8% in the third quarter, Holdings Channel reports. The fund owned 192,384 shares of the auto parts company’s stock after selling 298,000 shares during the quarter. Lightrock Netherlands B.V.’s holdings in Gentex were worth $5,444,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Nordea Investment Management AB purchased a new position in Gentex during the third quarter valued at approximately $6,422,000. Aurora Investment Counsel bought a new stake in Gentex during the 2nd quarter valued at $534,000. Deprince Race & Zollo Inc. purchased a new position in shares of Gentex in the 3rd quarter valued at $26,283,000. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Gentex by 329.8% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 87,438 shares of the auto parts company’s stock worth $1,923,000 after acquiring an additional 67,094 shares in the last quarter. Finally, Jump Financial LLC lifted its stake in shares of Gentex by 37.3% during the 2nd quarter. Jump Financial LLC now owns 224,065 shares of the auto parts company’s stock worth $4,927,000 after purchasing an additional 60,827 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on GNTX shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a research note on Thursday. The Goldman Sachs Group set a $27.00 price target on shares of Gentex and gave the company a “neutral” rating in a report on Monday, October 27th. JPMorgan Chase & Co. lifted their price objective on shares of Gentex from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. UBS Group reissued a “neutral” rating and set a $29.00 target price (up previously from $28.00) on shares of Gentex in a research report on Monday, October 6th. Finally, Robert W. Baird set a $26.00 target price on shares of Gentex in a research note on Wednesday, January 14th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gentex has a consensus rating of “Hold” and a consensus price target of $27.86.

View Our Latest Analysis on GNTX

Gentex Stock Performance

Shares of GNTX stock opened at $23.59 on Friday. Gentex Corporation has a fifty-two week low of $20.28 and a fifty-two week high of $29.38. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 13.88 and a beta of 0.78. The stock’s 50-day simple moving average is $23.40 and its 200-day simple moving average is $25.24.

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

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Wednesday, January 7th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Wednesday, January 7th. Gentex’s payout ratio is presently 28.24%.

Gentex Profile

(Free Report)

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).

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