Gentex Corporation $GNTX Stake Reduced by Global Alpha Capital Management Ltd.

Global Alpha Capital Management Ltd. trimmed its stake in Gentex Corporation (NASDAQ:GNTX) by 19.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 708,431 shares of the auto parts company’s stock after selling 165,669 shares during the quarter. Global Alpha Capital Management Ltd.’s holdings in Gentex were worth $16,485,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Hudson Bay Capital Management LP bought a new position in Gentex in the 3rd quarter worth about $3,613,000. WINTON GROUP Ltd bought a new stake in shares of Gentex during the third quarter valued at approximately $7,258,000. Clark Capital Management Group Inc. acquired a new position in shares of Gentex during the third quarter worth approximately $8,179,000. Elo Mutual Pension Insurance Co bought a new position in Gentex in the 3rd quarter worth approximately $726,000. Finally, JPMorgan Chase & Co. raised its stake in Gentex by 21.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,725,426 shares of the auto parts company’s stock valued at $190,330,000 after acquiring an additional 1,206,060 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Insiders Place Their Bets

In other Gentex news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $22.98, for a total transaction of $136,478.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian C. Walker sold 5,939 shares of Gentex stock in a transaction on Friday, May 15th. The shares were sold at an average price of $22.98, for a total value of $136,478.22. Following the sale, the director directly owned 24,205 shares of the company’s stock, valued at approximately $556,230.90. The trade was a 19.70% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 16,693 shares of company stock worth $385,194. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

GNTX has been the topic of several research analyst reports. Robert W. Baird raised their target price on shares of Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. B. Riley Financial restated a “buy” rating and issued a $29.00 target price (up from $28.00) on shares of Gentex in a research report on Monday, April 27th. UBS Group set a $26.00 price objective on Gentex in a research note on Sunday, April 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Gentex in a research note on Tuesday. Finally, Freedom Capital upgraded shares of Gentex to a “strong-buy” rating in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.83.

Gentex Stock Down 1.7%

Shares of Gentex stock opened at $24.63 on Friday. Gentex Corporation has a 12-month low of $20.48 and a 12-month high of $29.38. The firm has a market capitalization of $5.24 billion, a PE ratio of 13.84 and a beta of 0.79. The stock’s fifty day moving average is $22.94 and its 200-day moving average is $23.14.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $675.44 million for the quarter, compared to the consensus estimate of $649.42 million. During the same quarter in the previous year, the company earned $0.42 EPS. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. Analysts expect that Gentex Corporation will post 1.96 EPS for the current year.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be paid a $0.12 dividend. 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 (DPR) is currently 26.97%.

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).