Parvin Asset Management LLC Has $1.01 Million Stock Position in Gentex Corporation $GNTX

Parvin Asset Management LLC grew its position in shares of Gentex Corporation (NASDAQ:GNTX) by 380.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,480 shares of the auto parts company’s stock after acquiring an additional 34,430 shares during the quarter. Parvin Asset Management LLC’s holdings in Gentex were worth $1,012,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Clearstead Advisors LLC boosted its position in Gentex by 82.3% during the 3rd quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 922 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Gentex by 2,420.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock worth $58,000 after purchasing an additional 1,985 shares in the last quarter. Arax Advisory Partners bought a new stake in shares of Gentex during the 4th quarter worth approximately $52,000. Employees Retirement System of Texas bought a new stake in shares of Gentex during the 4th quarter worth approximately $56,000. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of Gentex during the 4th quarter worth approximately $63,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Trading Down 1.2%

GNTX opened at $25.73 on Wednesday. Gentex Corporation has a 1-year low of $20.48 and a 1-year high of $29.38. The stock’s fifty day simple moving average is $23.46 and its 200 day simple moving average is $23.29. The stock has a market cap of $5.48 billion, a PE ratio of 14.46 and a beta of 0.79.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $649.42 million. During the same quarter in the prior year, the business earned $0.42 EPS. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. Equities analysts forecast that Gentex Corporation will post 1.96 earnings per share for the current year.

Gentex Dividend Announcement

The firm also recently declared 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. This represents a $0.48 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, July 8th. Gentex’s dividend payout ratio is 26.97%.

Insider Activity at Gentex

In related news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard O. Schaum sold 4,815 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $23.31, for a total value of $112,237.65. Following the completion of the sale, the director owned 81,443 shares in the company, valued at approximately $1,898,436.33. This trade represents a 5.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 16,693 shares of company stock worth $385,194. Company insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GNTX shares. Freedom Capital upgraded Gentex to a “strong-buy” rating in a research note on Friday, March 27th. B. Riley Financial reiterated a “buy” rating and set a $29.00 price objective (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. UBS Group set a $26.00 price objective on Gentex in a research note on Sunday, April 26th. JPMorgan Chase & Co. upped their price objective on Gentex from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Wall Street Zen cut Gentex from a “buy” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average 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).