Gentex Co. (NASDAQ:GNTX) Shares Purchased by Harbor Investment Advisory LLC

by · The Markets Daily

Harbor Investment Advisory LLC raised its stake in shares of Gentex Co. (NASDAQ:GNTX – Free Report) by 208.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,618 shares of the auto parts company’s stock after purchasing an additional 1,093 shares during the period. Harbor Investment Advisory LLC’s holdings in Gentex were worth $38,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in Gentex by 6.1% during the fourth quarter. Wellington Management Group LLP now owns 18,023,056 shares of the auto parts company’s stock worth $517,802,000 after purchasing an additional 1,038,912 shares during the last quarter. Burgundy Asset Management Ltd. increased its position in shares of Gentex by 1.6% in the fourth quarter. Burgundy Asset Management Ltd. now owns 5,516,817 shares of the auto parts company’s stock worth $158,498,000 after acquiring an additional 86,929 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Gentex by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 5,423,820 shares of the auto parts company’s stock worth $155,861,000 after acquiring an additional 55,816 shares in the last quarter. TD Asset Management Inc. increased its position in shares of Gentex by 7.1% in the fourth quarter. TD Asset Management Inc. now owns 5,415,871 shares of the auto parts company’s stock worth $155,598,000 after acquiring an additional 356,854 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Gentex by 162.4% in the fourth quarter. JPMorgan Chase & Co. now owns 5,249,230 shares of the auto parts company’s stock worth $150,810,000 after acquiring an additional 3,248,434 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Trading Down 0.4%

Shares of GNTX stock opened at $21.32 on Thursday. Gentex Co. has a twelve month low of $20.28 and a twelve month high of $35.32. The company has a market capitalization of $4.79 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 0.84 and a beta of 0.85. The firm has a fifty day simple moving average of $21.90 and a 200-day simple moving average of $25.32.

Gentex (NASDAQ:GNTX – Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The auto parts company reported $0.43 EPS 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 for the quarter, compared to the consensus estimate of $578.68 million. During the same period in the prior year, the firm posted $0.47 EPS. The firm’s revenue was down 2.3% compared to the same quarter last year. Equities research analysts predict that Gentex Co. will post 2.04 EPS for the current year.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $0.48 dividend on an annualized basis and a yield of 2.25%. Gentex’s dividend payout ratio (DPR) is 28.07%.

Insider Buying and Selling at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $22.87, for a total value of $86,082.68. Following the transaction, the director now directly owns 5,939 shares in the company, 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 SEC, which can be accessed through the SEC website. 0.45% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GNTX. Baird R W lowered shares of Gentex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Robert W. Baird reissued a “neutral” rating and issued a $25.00 price objective (down previously from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. 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 research report on Thursday, April 10th. The Goldman Sachs Group decreased their target price on shares of Gentex from $28.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Finally, Guggenheim decreased their target price on shares of Gentex from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $28.31.

Get Our Latest Report on GNTX

Gentex Company Profile

(Free Report)

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.

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