Jensen Investment Management Inc. Cuts Stock Position in Gentex Corporation $GNTX

Jensen Investment Management Inc. cut its position in Gentex Corporation (NASDAQ:GNTX) by 17.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 133,540 shares of the auto parts company’s stock after selling 28,000 shares during the quarter. Jensen Investment Management Inc. owned approximately 0.06% of Gentex worth $3,779,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GNTX. AlTi Global Inc. purchased a new position in shares of Gentex in the 3rd quarter worth approximately $362,000. Alps Advisors Inc. boosted its stake in Gentex by 16.2% in the third quarter. Alps Advisors Inc. now owns 730,472 shares of the auto parts company’s stock valued at $20,672,000 after acquiring an additional 101,997 shares in the last quarter. Altrius Capital Management Inc boosted its stake in Gentex by 0.6% in the third quarter. Altrius Capital Management Inc now owns 203,574 shares of the auto parts company’s stock valued at $5,761,000 after acquiring an additional 1,291 shares in the last quarter. Savant Capital LLC grew its holdings in Gentex by 8.7% in the third quarter. Savant Capital LLC now owns 13,657 shares of the auto parts company’s stock worth $386,000 after purchasing an additional 1,091 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its position in shares of Gentex by 50.3% during the third quarter. Hantz Financial Services Inc. now owns 7,229 shares of the auto parts company’s stock worth $205,000 after purchasing an additional 2,418 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GNTX shares. UBS Group set a $25.00 price objective on Gentex in a research report on Monday, February 2nd. Robert W. Baird set a $26.00 price target on Gentex in a research note on Wednesday, January 14th. Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a research note on Thursday, January 22nd. The Goldman Sachs Group set a $27.00 price objective on shares of Gentex and gave the company a “neutral” rating in a research report on Monday, October 27th. Finally, B. Riley Financial lowered their target price 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. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $26.71.

Gentex Stock Up 1.8%

Gentex stock opened at $24.17 on Wednesday. The stock has a 50-day moving average price of $23.74 and a 200 day moving average price of $25.29. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 13.89 and a beta of 0.78. Gentex Corporation has a 52 week low of $20.28 and a 52 week high of $29.38.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, January 30th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. The company had revenue of $644.40 million during the quarter, compared to analyst estimates of $650.90 million. Gentex had a net margin of 15.19% and a return on equity of 16.05%. Gentex’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period last year, the firm posted $0.39 EPS. Research analysts anticipate that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Wednesday, January 7th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, January 7th. Gentex’s dividend payout ratio is presently 27.59%.

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).