Parvin Asset Management LLC Purchases 34,430 Shares of Gentex Corporation $GNTX

Parvin Asset Management LLC boosted its position in shares of Gentex Corporation (NASDAQ:GNTX) by 380.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,480 shares of the auto parts company’s stock after purchasing an additional 34,430 shares during the quarter. Parvin Asset Management LLC’s holdings in Gentex were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clearstead Advisors LLC raised its holdings in Gentex by 21.4% during the 4th quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock worth $58,000 after purchasing an additional 437 shares during the last quarter. Gagnon Securities LLC grew its position in shares of Gentex by 0.8% during the 4th quarter. Gagnon Securities LLC now owns 55,672 shares of the auto parts company’s stock worth $1,295,000 after buying an additional 458 shares during the period. Orion Porfolio Solutions LLC grew its position in shares of Gentex by 4.5% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 13,025 shares of the auto parts company’s stock worth $286,000 after buying an additional 562 shares during the period. Merit Financial Group LLC grew its position in shares of Gentex by 2.1% during the 4th quarter. Merit Financial Group LLC now owns 30,641 shares of the auto parts company’s stock worth $713,000 after buying an additional 635 shares during the period. Finally, Novem Group grew its position in shares of Gentex by 6.3% during the 4th quarter. Novem Group now owns 11,683 shares of the auto parts company’s stock worth $272,000 after buying an additional 696 shares during the period. 86.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Gentex news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $22.98, for a total transaction of $136,478.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian C. Walker sold 5,939 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. Following the transaction, the director directly owned 24,205 shares of the company’s stock, valued at approximately $556,230.90. This trade represents a 19.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 16,693 shares of company stock valued at $385,194 in the last quarter. 0.55% of the stock is currently owned by insiders.

Gentex Stock Performance

Shares of GNTX opened at $25.73 on Wednesday. The stock has a 50 day simple moving average of $23.46 and a 200 day simple moving average of $23.29. Gentex Corporation has a 52-week low of $20.48 and a 52-week high of $29.38. The firm has a market capitalization of $5.48 billion, a PE ratio of 14.46 and a beta of 0.79.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The business had revenue of $675.44 million during the quarter, compared to analyst estimates of $649.42 million. During the same period in the previous year, the firm earned $0.42 EPS. Gentex’s quarterly revenue was up 17.1% compared to the same quarter last year. Equities research analysts predict that Gentex Corporation will post 1.96 EPS for the current fiscal year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.9%. Gentex’s dividend payout ratio is 26.97%.

Analysts Set New Price Targets

Several research firms have recently issued reports on GNTX. JPMorgan Chase & Co. boosted their target price on Gentex from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Freedom Capital upgraded Gentex to a “strong-buy” rating in a research report on Friday, March 27th. UBS Group set a $26.00 target price on Gentex in a research report on Sunday, April 26th. Robert W. Baird boosted their target price on Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, Wall Street Zen lowered Gentex from a “buy” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.83.

Gentex 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).