Picton Mahoney Asset Management Makes New $929,000 Investment in Gentex Corporation $GNTX

Picton Mahoney Asset Management acquired a new stake in shares of Gentex Corporation (NASDAQ:GNTX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 32,848 shares of the auto parts company’s stock, valued at approximately $929,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GNTX. Addison Advisors LLC purchased a new position in Gentex during the second quarter valued at $25,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Gentex in the third quarter worth $38,000. Clearstead Advisors LLC increased its holdings in shares of Gentex by 82.3% during the third 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 bought a new position in shares of Gentex during the third quarter valued at $65,000. Finally, Steph & Co. raised its position in shares of Gentex by 30.5% in the 3rd quarter. Steph & Co. now owns 2,684 shares of the auto parts company’s stock worth $76,000 after purchasing an additional 627 shares during the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GNTX has been the topic of several recent analyst reports. UBS Group set a $25.00 price objective on shares of Gentex in a research report on Monday, February 2nd. B. Riley Financial decreased their target price on shares of Gentex from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Wall Street Zen cut shares of Gentex from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a research report on Thursday, January 22nd. Finally, Robert W. Baird set a $26.00 price objective on shares of Gentex in a report on Wednesday, January 14th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Gentex has a consensus rating of “Hold” and an average price target of $26.71.

Gentex Stock Performance

Gentex stock opened at $22.08 on Friday. Gentex Corporation has a one year low of $20.28 and a one year high of $29.38. The stock has a fifty day moving average of $23.85 and a 200 day moving average of $24.91. The stock has a market cap of $4.76 billion, a PE ratio of 12.69 and a beta of 0.76.

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

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, April 8th. Gentex’s dividend payout ratio (DPR) is currently 27.59%.

Insider Activity

In related news, CTO Neil Boehm sold 11,248 shares of Gentex stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $24.82, for a total transaction of $279,175.36. Following the transaction, the chief technology officer directly owned 58,951 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven R. Downing sold 35,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $24.75, for a total value of $866,250.00. Following the sale, the chief executive officer directly owned 211,670 shares of the company’s stock, valued at $5,238,832.50. This represents a 14.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 58,133 shares of company stock valued at $1,442,313 in the last 90 days. Company insiders own 0.45% of the company’s stock.

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).