Gentex Co. (NASDAQ:GNTX) is Hendershot Investments Inc.’s 8th Largest Position

Hendershot Investments Inc. increased its stake in Gentex Co. (NASDAQ:GNTX) by 4.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 630,686 shares of the auto parts company’s stock after purchasing an additional 29,484 shares during the quarter. Gentex comprises about 3.1% of Hendershot Investments Inc.’s holdings, making the stock its 8th largest position. Hendershot Investments Inc. owned 0.27% of Gentex worth $21,260,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Neo Ivy Capital Management purchased a new position in shares of Gentex in the fourth quarter valued at $29,000. National Bank of Canada FI grew its position in shares of Gentex by 159.1% in the fourth quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock valued at $30,000 after purchasing an additional 571 shares in the last quarter. Gladius Capital Management LP purchased a new position in shares of Gentex in the second quarter valued at $34,000. GAMMA Investing LLC grew its position in shares of Gentex by 26.3% in the first quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock valued at $63,000 after purchasing an additional 363 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Gentex in the second quarter valued at $73,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Gentex Trading Down 0.3 %

GNTX opened at $30.59 on Friday. The company has a market cap of $7.07 billion, a P/E ratio of 16.19, a P/E/G ratio of 1.03 and a beta of 0.93. The business’s 50-day moving average price is $31.61 and its 200-day moving average price is $33.86. Gentex Co. has a 12 month low of $27.86 and a 12 month high of $37.58.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.15). Gentex had a return on equity of 17.78% and a net margin of 17.87%. The company had revenue of $572.93 million during the quarter, compared to analysts’ expectations of $623.28 million. Equities research analysts forecast that Gentex Co. will post 1.96 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.57%. Gentex’s dividend payout ratio (DPR) is 25.40%.

Insiders Place Their Bets

In other news, major shareholder Corp Gentex bought 3,152,500 shares of Gentex stock in a transaction on Friday, August 23rd. The shares were purchased at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the acquisition, the insider now owns 6,463,808 shares of the company’s stock, valued at $32,319,040. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on GNTX. Robert W. Baird dropped their price objective on Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. B. Riley dropped their price objective on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, July 29th. StockNews.com lowered Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. UBS Group started coverage on Gentex in a research note on Wednesday. They set a “neutral” rating and a $34.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their price target on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.86.

Gentex Profile

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.