Hendershot Investments Inc. Boosts Stake in Gentex Corporation $GNTX

Hendershot Investments Inc. lifted its holdings in shares of Gentex Corporation (NASDAQ:GNTX) by 7.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 486,286 shares of the auto parts company’s stock after purchasing an additional 33,290 shares during the quarter. Gentex comprises approximately 1.7% of Hendershot Investments Inc.’s investment portfolio, making the stock its 19th biggest position. Hendershot Investments Inc. owned 0.22% of Gentex worth $13,762,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Nordea Investment Management AB acquired a new position in shares of Gentex in the 3rd quarter worth approximately $6,422,000. Deprince Race & Zollo Inc. acquired a new stake in Gentex in the 3rd quarter valued at approximately $26,283,000. Cidel Asset Management Inc. raised its position in Gentex by 13.7% in the third quarter. Cidel Asset Management Inc. now owns 450,780 shares of the auto parts company’s stock valued at $12,757,000 after purchasing an additional 54,328 shares during the period. JPMorgan Chase & Co. lifted its stake in Gentex by 21.9% during the third quarter. JPMorgan Chase & Co. now owns 6,725,426 shares of the auto parts company’s stock worth $190,330,000 after purchasing an additional 1,206,060 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. purchased a new position in shares of Gentex during the second quarter worth $19,318,000. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Trading Down 1.2%

Shares of Gentex stock opened at $23.40 on Friday. The company has a fifty day simple moving average of $23.91 and a 200-day simple moving average of $25.06. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 13.45 and a beta of 0.78. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $29.38.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, January 30th. The auto parts company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $644.40 million for the quarter, compared to analyst estimates of $650.90 million. Gentex had a return on equity of 16.05% and a net margin of 15.19%.The firm’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 earnings per share. On average, analysts forecast 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 will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, April 8th. Gentex’s dividend payout ratio is 27.59%.

Analyst Ratings Changes

Several research firms recently issued reports on GNTX. Robert W. Baird set a $26.00 price objective on Gentex in a report on Wednesday, January 14th. Wall Street Zen lowered shares of Gentex from a “buy” rating to a “hold” rating in a research note on Saturday. B. Riley Financial lowered their price objective on shares of Gentex from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a report on Thursday, January 22nd. Finally, UBS Group set a $25.00 target price on shares of Gentex in a report on Monday, February 2nd. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $26.71.

Insider Buying and Selling

In other news, CFO Kevin C. Nash sold 11,885 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $24.98, for a total value of $296,887.30. Following the completion of the sale, the chief financial officer owned 59,430 shares in the company, valued at approximately $1,484,561.40. This trade represents a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Neil Boehm sold 11,248 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $24.82, for a total transaction of $279,175.36. Following the transaction, the chief technology officer owned 58,951 shares in the company, valued at approximately $1,463,163.82. This trade represents a 16.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 58,133 shares of company stock valued at $1,442,313 over the last three months. 0.45% of the stock is currently owned by company insiders.

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).