Baird Financial Group Inc. boosted its position in Gentex Co. (NASDAQ:GNTX) by 7.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 195,436 shares of the auto parts company’s stock after acquiring an additional 13,120 shares during the quarter. Baird Financial Group Inc.’s holdings in Gentex were worth $4,147,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of GNTX. FMR LLC increased its stake in Gentex by 22.6% in the second quarter. FMR LLC now owns 10,889,141 shares of the auto parts company’s stock valued at $250,668,000 after purchasing an additional 2,008,953 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Gentex by 24.5% in the third quarter. Bank of New York Mellon Corp now owns 4,966,771 shares of the auto parts company’s stock valued at $106,585,000 after purchasing an additional 976,219 shares during the last quarter. Glenmede Trust Co. NA increased its stake in Gentex by 7,214.5% in the second quarter. Glenmede Trust Co. NA now owns 983,868 shares of the auto parts company’s stock valued at $22,649,000 after purchasing an additional 970,417 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Gentex by 5,326.5% in the second quarter. Advisors Asset Management Inc. now owns 958,757 shares of the auto parts company’s stock valued at $1,354,000 after purchasing an additional 941,089 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Gentex by 42.2% in the second quarter. Wells Fargo & Company MN now owns 2,712,561 shares of the auto parts company’s stock valued at $62,442,000 after purchasing an additional 804,911 shares during the last quarter. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GNTX opened at $21.66 on Friday. The company has a market cap of $5.76 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 1.21 and a beta of 1.14. Gentex Co. has a 12-month low of $17.80 and a 12-month high of $25.41.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, October 19th. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $460.25 million for the quarter, compared to analyst estimates of $465.51 million. Gentex had a net margin of 25.11% and a return on equity of 21.83%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. As a group, research analysts predict that Gentex Co. will post 1.65 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Stockholders of record on Wednesday, January 9th will be given a dividend of $0.11 per share. The ex-dividend date is Tuesday, January 8th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.03%. Gentex’s dividend payout ratio (DPR) is presently 34.38%.

In other news, CFO Kevin C. Nash sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $21.50, for a total transaction of $129,000.00. Following the transaction, the chief financial officer now directly owns 32,732 shares in the company, valued at $703,738. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have bought 1,155 shares of company stock worth $23,237. Insiders own 0.60% of the company’s stock.

Several brokerages have commented on GNTX. BidaskClub upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. Longbow Research set a $28.00 price target on shares of Gentex and gave the company a “buy” rating in a research note on Friday, August 24th. Jefferies Financial Group initiated coverage on shares of Gentex in a research note on Tuesday. They issued a “hold” rating and a $24.00 price target on the stock. Wells Fargo & Co restated a “buy” rating on shares of Gentex in a research report on Wednesday, November 14th. Finally, Zacks Investment Research lowered shares of Gentex from a “hold” rating to a “sell” rating in a research report on Tuesday, September 18th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Gentex has a consensus rating of “Hold” and a consensus target price of $24.44.

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Gentex Company Profile

Gentex Corporation provides automatic-dimming and non-dimming rearview mirrors, and electronics for the automotive industry; dimmable aircraft windows for the aviation industry; and commercial smoke alarms and signaling devices for the fire protection industry worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.

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Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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