Gentex Corporation $GNTX Shares Bought by South Dakota Investment Council

South Dakota Investment Council lifted its position in shares of Gentex Corporation (NASDAQ:GNTX) by 12.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,640 shares of the auto parts company’s stock after acquiring an additional 26,100 shares during the quarter. South Dakota Investment Council owned 0.11% of Gentex worth $6,612,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Addison Advisors LLC acquired a new stake in Gentex in the second quarter valued at $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Gentex in the 3rd quarter valued at about $38,000. Clearstead Advisors LLC increased its holdings in Gentex by 82.3% during the 3rd quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock valued at $58,000 after acquiring an additional 922 shares in the last quarter. Grey Fox Wealth Advisors LLC acquired a new position in Gentex during the third quarter worth about $65,000. Finally, Steph & Co. lifted its holdings in shares of Gentex by 30.5% in the third quarter. Steph & Co. now owns 2,684 shares of the auto parts company’s stock valued at $76,000 after purchasing an additional 627 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity

In other Gentex news, 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 completion of the sale, the chief technology officer owned 58,951 shares of the company’s stock, valued at approximately $1,463,163.82. The trade was a 16.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steven R. Downing sold 35,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $24.75, for a total value of $866,250.00. Following the sale, the chief executive officer owned 211,670 shares of the company’s stock, valued at $5,238,832.50. This represents a 14.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 58,133 shares of company stock valued at $1,442,313 in the last ninety days. Company insiders own 0.45% of the company’s stock.

Gentex Trading Down 1.3%

NASDAQ GNTX opened at $23.00 on Wednesday. The company has a market capitalization of $4.95 billion, a PE ratio of 13.22 and a beta of 0.76. The business’s 50-day moving average price is $23.90 and its 200 day moving average price is $24.98. Gentex Corporation has a twelve month low of $20.28 and a twelve month high of $29.38.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, January 30th. The auto parts company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Gentex had a net margin of 15.19% and a return on equity of 16.05%. The company had revenue of $644.40 million during the quarter, compared to the consensus estimate of $650.90 million. During the same quarter in the prior year, the company posted $0.39 EPS. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. Equities analysts predict that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 8th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, April 8th. Gentex’s dividend payout ratio (DPR) is 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).