Jensen Investment Management Inc. Lowers Position in Gentex Corporation $GNTX

Jensen Investment Management Inc. reduced its position in Gentex Corporation (NASDAQ:GNTX) by 17.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 133,540 shares of the auto parts company’s stock after selling 28,000 shares during the quarter. Jensen Investment Management Inc.’s holdings in Gentex were worth $3,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. AlTi Global Inc. purchased a new position in Gentex in the third quarter valued at $362,000. Alps Advisors Inc. boosted its stake in shares of Gentex by 16.2% during the 3rd quarter. Alps Advisors Inc. now owns 730,472 shares of the auto parts company’s stock worth $20,672,000 after acquiring an additional 101,997 shares in the last quarter. Altrius Capital Management Inc grew its position in shares of Gentex by 0.6% during the 3rd 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 during the period. Savant Capital LLC grew its position in shares of Gentex by 8.7% during the 3rd quarter. Savant Capital LLC now owns 13,657 shares of the auto parts company’s stock valued at $386,000 after acquiring an additional 1,091 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in shares of Gentex by 50.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 7,229 shares of the auto parts company’s stock valued at $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.

Gentex Stock Up 1.8%

Shares of Gentex stock opened at $24.17 on Wednesday. Gentex Corporation has a 52 week low of $20.28 and a 52 week high of $29.38. The business’s fifty day simple moving average is $23.74 and its 200-day simple moving average is $25.29. The firm has a market cap of $5.29 billion, a PE ratio of 13.89 and a beta of 0.78.

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

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Wednesday, January 7th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, January 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. Gentex’s dividend payout ratio is currently 27.59%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. UBS Group set a $25.00 price target on Gentex in a research report on Monday, February 2nd. The Goldman Sachs Group set a $27.00 price objective on Gentex and gave the company a “neutral” rating in a research report on Monday, October 27th. B. Riley Financial decreased their target price on Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Gentex from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.71.

About Gentex

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).