Independent Advisor Alliance Takes $1.65 Million Position in Gentex Corporation $GNTX

Independent Advisor Alliance purchased a new stake in Gentex Corporation (NASDAQ:GNTX) in the fourth quarter, HoldingsChannel reports. The firm purchased 71,026 shares of the auto parts company’s stock, valued at approximately $1,653,000.

Several other institutional investors have also recently bought and sold shares of GNTX. Hudson Bay Capital Management LP acquired a new position in Gentex in the third quarter valued at approximately $3,613,000. WINTON GROUP Ltd acquired a new stake in Gentex during the 3rd quarter worth $7,258,000. Nordea Investment Management AB bought a new stake in shares of Gentex during the 3rd quarter valued at $6,422,000. Elo Mutual Pension Insurance Co bought a new stake in shares of Gentex during the 3rd quarter valued at $726,000. Finally, Clark Capital Management Group Inc. acquired a new position in shares of Gentex in the 3rd quarter valued at $8,179,000. Institutional investors own 86.76% of the company’s stock.

Gentex Stock Down 2.3%

Shares of GNTX stock opened at $22.87 on Friday. Gentex Corporation has a 12-month low of $20.48 and a 12-month high of $29.38. The firm has a fifty day moving average of $22.19 and a 200-day moving average of $23.08. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 12.85 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.44 by $0.04. The business had revenue of $675.44 million for the quarter, compared to the consensus estimate of $649.42 million. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The firm’s revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. Research analysts expect that Gentex Corporation will post 1.92 earnings per share for the current year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, April 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. Gentex’s dividend payout ratio (DPR) is currently 26.97%.

Insider Buying and Selling at Gentex

In related news, CEO Steven R. Downing sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $24.75, for a total value of $866,250.00. Following the completion of the transaction, the chief executive officer directly owned 211,670 shares in the company, valued at approximately $5,238,832.50. The trade was a 14.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian C. Walker sold 5,939 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. Following the sale, the director directly owned 24,205 shares of the company’s stock, valued at approximately $556,230.90. The trade was a 19.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 74,826 shares of company stock worth $1,827,507 over the last three months. Company insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GNTX shares. Freedom Capital upgraded Gentex to a “strong-buy” rating in a research report on Friday, March 27th. Wall Street Zen raised Gentex from a “hold” rating to a “buy” rating in a research note on Sunday, March 8th. JPMorgan Chase & Co. raised their target price on Gentex from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday. Robert W. Baird boosted their target price on Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gentex in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $26.83.

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).