Norris Perne & French LLP MI Has $1.46 Million Stake in Gentex Corporation $GNTX

Norris Perne & French LLP MI boosted its stake in Gentex Corporation (NASDAQ:GNTX) by 138.7% in the third quarter, HoldingsChannel reports. The firm owned 51,599 shares of the auto parts company’s stock after buying an additional 29,981 shares during the period. Norris Perne & French LLP MI’s holdings in Gentex were worth $1,460,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GNTX. Ethic Inc. acquired a new position in shares of Gentex during the third quarter valued at about $310,000. Deprince Race & Zollo Inc. bought a new position in shares of Gentex in the third quarter valued at approximately $26,283,000. 180 Wealth Advisors LLC increased its position in shares of Gentex by 4.4% during the third quarter. 180 Wealth Advisors LLC now owns 76,407 shares of the auto parts company’s stock valued at $2,162,000 after acquiring an additional 3,251 shares during the last quarter. Blue Trust Inc. lifted its holdings in Gentex by 11.6% during the third quarter. Blue Trust Inc. now owns 15,857 shares of the auto parts company’s stock worth $449,000 after acquiring an additional 1,648 shares during the period. Finally, CWM LLC boosted its position in Gentex by 5.1% in the third quarter. CWM LLC now owns 9,648 shares of the auto parts company’s stock worth $273,000 after purchasing an additional 467 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Stock Up 0.4%

GNTX opened at $23.47 on Monday. The firm has a 50-day moving average price of $23.46 and a 200-day moving average price of $25.02. Gentex Corporation has a twelve month low of $20.28 and a twelve month high of $29.52. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 13.81 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, October 24th. The auto parts company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). Gentex had a return on equity of 15.86% and a net margin of 15.61%.The business had revenue of $570.32 million during the quarter, compared to the consensus estimate of $661.10 million. During the same period last year, the business posted $0.53 earnings per share. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts expect that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Wednesday, January 7th will be given a $0.12 dividend. The ex-dividend date is Wednesday, January 7th. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. Gentex’s payout ratio is 28.24%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. UBS Group reaffirmed a “neutral” rating and set a $29.00 target price (up from $28.00) on shares of Gentex in a research report on Monday, October 6th. Zacks Research downgraded shares of Gentex from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. 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. Robert W. Baird set a $29.00 price target on shares of Gentex in a research note on Monday, October 27th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Gentex presently has an average rating of “Hold” and an average target price of $28.29.

About Gentex

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).