27,415 Shares in Gentex Corporation $GNTX Bought by TrueMark Investments LLC

TrueMark Investments LLC purchased a new stake in shares of Gentex Corporation (NASDAQ:GNTX) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 27,415 shares of the auto parts company’s stock, valued at approximately $776,000.

Other hedge funds have also modified their holdings of the company. Covestor Ltd lifted its holdings in shares of Gentex by 17.6% during the third quarter. Covestor Ltd now owns 10,169 shares of the auto parts company’s stock worth $288,000 after purchasing an additional 1,525 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Gentex by 1.3% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 88,568 shares of the auto parts company’s stock valued at $2,506,000 after acquiring an additional 1,130 shares during the period. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Gentex in the 3rd quarter valued at $65,000. Parsons Capital Management Inc. RI acquired a new stake in shares of Gentex in the third quarter worth $210,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Gentex by 1.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 49,687 shares of the auto parts company’s stock worth $1,323,000 after purchasing an additional 863 shares during the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GNTX has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gentex in a report on Thursday. Robert W. Baird set a $26.00 price target on Gentex in a report on Wednesday, January 14th. UBS Group reaffirmed a “neutral” rating and set a $29.00 price objective (up previously from $28.00) on shares of Gentex in a research note on Monday, October 6th. Finally, The Goldman Sachs Group set a $27.00 target price on shares of Gentex and gave the company a “neutral” rating in a research note on Monday, October 27th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $27.86.

Gentex Price Performance

Shares of GNTX stock opened at $23.59 on Friday. The stock has a 50 day simple moving average of $23.40 and a 200-day simple moving average of $25.24. Gentex Corporation has a 1-year low of $20.28 and a 1-year high of $29.38. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 13.88 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last posted 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). The company had revenue of $570.32 million for 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 business’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 earnings per share. Analysts anticipate that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Wednesday, January 7th were given 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 dividend payout ratio is 28.24%.

Gentex 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).