Gentex Co. (NASDAQ:GNTX) Stock Position Raised by Financial Enhancement Group LLC

Financial Enhancement Group LLC lifted its position in Gentex Co. (NASDAQ:GNTX) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 127,834 shares of the auto parts company’s stock after buying an additional 1,003 shares during the quarter. Financial Enhancement Group LLC owned about 0.06% of Gentex worth $4,309,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Neo Ivy Capital Management acquired a new position in shares of Gentex during the 4th quarter worth $29,000. National Bank of Canada FI increased its position in Gentex by 159.1% during the fourth quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock worth $30,000 after buying an additional 571 shares during the last quarter. Gladius Capital Management LP bought a new position in Gentex during the second quarter valued at about $34,000. GAMMA Investing LLC boosted its stake in shares of Gentex by 26.3% during the 1st quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock worth $63,000 after acquiring an additional 363 shares in the last quarter. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Gentex during the 2nd quarter valued at about $73,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Stock Performance

NASDAQ:GNTX traded down $0.22 on Wednesday, hitting $30.33. 174,059 shares of the stock were exchanged, compared to its average volume of 1,395,375. Gentex Co. has a 52 week low of $27.86 and a 52 week high of $37.58. The stock has a market capitalization of $7.01 billion, a price-to-earnings ratio of 16.16, a P/E/G ratio of 1.03 and a beta of 0.93. The company’s 50-day moving average price is $31.72 and its 200 day moving average price is $33.90.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, July 26th. The auto parts company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.15). The company had revenue of $572.93 million during the quarter, compared to analyst estimates of $623.28 million. Gentex had a net margin of 17.87% and a return on equity of 17.78%. As a group, equities research analysts predict that Gentex Co. 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, October 23rd. Stockholders of record on Wednesday, October 9th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Wednesday, October 9th. Gentex’s dividend payout ratio is currently 25.40%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GNTX. Robert W. Baird reduced their target price on Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Monday, July 29th. StockNews.com downgraded shares of Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. JPMorgan Chase & Co. dropped their target price on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. BNP Paribas lowered shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price for the company. in a research report on Tuesday, July 30th. Finally, UBS Group began coverage on Gentex in a research report on Wednesday. They issued a “neutral” rating and a $34.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Gentex has an average rating of “Hold” and an average target price of $36.86.

Insider Activity

In other Gentex news, major shareholder Corp Gentex bought 3,152,500 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the purchase, the insider now owns 6,463,808 shares in the company, valued at $32,319,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is currently owned by company insiders.

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.