True Wealth Design LLC Invests $839,000 in Gentex Co. (NASDAQ:GNTX)

True Wealth Design LLC purchased a new stake in shares of Gentex Co. (NASDAQ:GNTX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 25,690 shares of the auto parts company’s stock, valued at approximately $839,000.

Several other institutional investors also recently modified their holdings of the business. IFG Advisory LLC grew its position in Gentex by 85.1% in the 4th quarter. IFG Advisory LLC now owns 129,203 shares of the auto parts company’s stock worth $4,220,000 after purchasing an additional 59,407 shares during the period. TD Asset Management Inc increased its position in Gentex by 58.1% during the fourth quarter. TD Asset Management Inc now owns 3,313,757 shares of the auto parts company’s stock valued at $108,227,000 after acquiring an additional 1,217,278 shares during the last quarter. Thematics Asset Management lifted its holdings in Gentex by 51.2% in the fourth quarter. Thematics Asset Management now owns 523,207 shares of the auto parts company’s stock valued at $17,088,000 after acquiring an additional 177,207 shares during the period. First Trust Advisors LP boosted its position in Gentex by 301.6% in the fourth quarter. First Trust Advisors LP now owns 2,568,775 shares of the auto parts company’s stock worth $83,896,000 after purchasing an additional 1,929,150 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its stake in shares of Gentex by 14.6% during the 4th quarter. Epoch Investment Partners Inc. now owns 2,235,337 shares of the auto parts company’s stock valued at $73,006,000 after purchasing an additional 284,260 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Joseph B. Anderson, Jr. sold 4,716 shares of Gentex stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $34.46, for a total value of $162,513.36. Following the sale, the director now directly owns 3,764 shares of the company’s stock, valued at $129,707.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.41% of the company’s stock.

Gentex Stock Performance

Shares of Gentex stock traded down $0.28 during trading hours on Tuesday, hitting $33.81. The company’s stock had a trading volume of 1,479,562 shares, compared to its average volume of 1,351,879. The company has a market cap of $7.82 billion, a PE ratio of 17.89, a PEG ratio of 0.96 and a beta of 0.97. The business has a 50 day moving average price of $34.59 and a two-hundred day moving average price of $34.07. Gentex Co. has a 12-month low of $27.04 and a 12-month high of $37.58.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Gentex had a return on equity of 19.19% and a net margin of 18.77%. The business had revenue of $590.23 million during the quarter, compared to analysts’ expectations of $600.38 million. During the same period in the prior year, the firm posted $0.42 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, research analysts anticipate that Gentex Co. will post 2.11 earnings per share for the current year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 17th. Shareholders of record on Friday, July 5th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. Gentex’s dividend payout ratio is currently 25.40%.

Wall Street Analyst Weigh In

A number of analysts have commented on GNTX shares. StockNews.com cut shares of Gentex from a “buy” rating to a “hold” rating in a report on Saturday. B. Riley upped their price target on Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, Guggenheim boosted their price objective on Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $37.83.

Gentex Profile

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.