Principal Financial Group Inc. Has $26.27 Million Stock Position in Gentex Co. (NASDAQ:GNTX)

Principal Financial Group Inc. reduced its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 774,194 shares of the auto parts company’s stock after selling 16,038 shares during the quarter. Principal Financial Group Inc. owned 0.32% of Gentex worth $26,268,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GNTX. International Assets Investment Management LLC bought a new stake in shares of Gentex during the 4th quarter worth $28,000. Fieldpoint Private Securities LLC bought a new position in Gentex in the fourth quarter valued at about $29,000. Alpha Paradigm Partners LLC bought a new position in Gentex in the fourth quarter valued at about $35,000. Valeo Financial Advisors LLC raised its position in Gentex by 114.7% in the fourth quarter. Valeo Financial Advisors LLC now owns 2,168 shares of the auto parts company’s stock valued at $74,000 after purchasing an additional 1,158 shares during the last quarter. Finally, JJJ Advisors Inc. raised its position in Gentex by 420.5% in the fourth quarter. JJJ Advisors Inc. now owns 2,280 shares of the auto parts company’s stock valued at $77,000 after purchasing an additional 1,842 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

NASDAQ GNTX opened at $35.73 on Thursday. The business has a 50 day simple moving average of $35.77 and a 200 day simple moving average of $32.83. Gentex Co. has a one year low of $22.10 and a one year high of $37.75. The stock has a market capitalization of $8.71 billion, a P/E ratio of 29.29, a P/E/G ratio of 7.13 and a beta of 1.15.

Gentex (NASDAQ:GNTX) last released its earnings results on Thursday, January 28th. The auto parts company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.50 by $0.08. Gentex had a return on equity of 16.59% and a net margin of 18.96%. The business had revenue of $529.60 million during the quarter, compared to analysts’ expectations of $482.66 million. During the same quarter last year, the firm posted $0.39 earnings per share. The firm’s revenue was up 19.3% on a year-over-year basis. As a group, sell-side analysts predict that Gentex Co. will post 1.36 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 21st. Investors of record on Friday, April 9th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $0.48 annualized dividend and a yield of 1.34%. Gentex’s dividend payout ratio is currently 28.92%.

In other Gentex news, VP Matthew Chiodo sold 6,851 shares of the firm’s stock in a transaction that occurred on Wednesday, March 31st. The stock was sold at an average price of $35.66, for a total value of $244,306.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John A. Mulder sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $34.90, for a total value of $244,300.00. Following the completion of the sale, the director now directly owns 41,365 shares of the company’s stock, valued at approximately $1,443,638.50. The disclosure for this sale can be found here. Insiders have sold 43,926 shares of company stock valued at $1,559,307 in the last ninety days. 0.37% of the stock is currently owned by insiders.

Several research firms have commented on GNTX. B. Riley increased their target price on Gentex from $38.75 to $40.00 and gave the company a “buy” rating in a research report on Monday, February 1st. KeyCorp increased their price target on Gentex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, January 25th. Seaport Global Securities initiated coverage on Gentex in a research note on Thursday, January 28th. They issued a “neutral” rating for the company. Finally, Zacks Investment Research raised Gentex from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Wednesday, February 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $30.67.

Gentex Profile

Gentex Corp. is a technology company, which engages in the design, development, and manufacture and supply of digital vision, connected car, dimmable glass, and fire protection products. The firm operates through Automotive Products and Other segments. The Automotive Products segment operates in virtually all of the foregoing facilities.

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Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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