Fox Run Management L.L.C. Takes $991,000 Position in Gentex Corporation $GNTX

Fox Run Management L.L.C. acquired a new position in shares of Gentex Corporation (NASDAQ:GNTX) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 35,027 shares of the auto parts company’s stock, valued at approximately $991,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GNTX. Addison Advisors LLC purchased a new stake in Gentex during the second quarter valued at about $25,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Gentex in the 3rd quarter worth about $38,000. Clearstead Advisors LLC lifted its stake in shares of Gentex by 82.3% in the 3rd quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock valued at $58,000 after purchasing an additional 922 shares in the last quarter. Grey Fox Wealth Advisors LLC acquired a new position in shares of Gentex in the 3rd quarter valued at about $65,000. Finally, Steph & Co. grew its holdings in shares of Gentex by 30.5% during 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 period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Insider Buying and Selling

In other Gentex news, CTO Neil Boehm sold 11,248 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $24.82, for a total transaction of $279,175.36. Following the completion of the transaction, the chief technology officer directly owned 58,951 shares of the company’s stock, valued at $1,463,163.82. This trade represents a 16.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin C. Nash sold 11,885 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $24.98, for a total transaction of $296,887.30. Following the completion of the sale, the chief financial officer directly owned 59,430 shares of the company’s stock, valued at $1,484,561.40. The trade was a 16.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 58,133 shares of company stock worth $1,442,313. Insiders own 0.45% of the company’s stock.

Gentex Trading Up 0.5%

GNTX opened at $23.68 on Friday. Gentex Corporation has a twelve month low of $20.28 and a twelve month high of $29.38. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 13.61 and a beta of 0.78. The company has a fifty day simple moving average of $23.91 and a 200 day simple moving average of $25.10.

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

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, April 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. Gentex’s dividend payout ratio (DPR) is presently 27.59%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a report on Thursday, January 22nd. Robert W. Baird set a $26.00 price objective on shares of Gentex in a research report on Wednesday, January 14th. UBS Group set a $25.00 target price on shares of Gentex in a research note on Monday, February 2nd. Finally, B. Riley Financial decreased their price target on shares of Gentex from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Two 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 company currently has a consensus rating of “Hold” and a consensus price target of $26.71.

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).