GHP Investment Advisors Inc. Has $4.98 Million Stock Position in Gentex Co. (NASDAQ:GNTX)

GHP Investment Advisors Inc. lessened its stake in Gentex Co. (NASDAQ:GNTX) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,730 shares of the auto parts company’s stock after selling 2,656 shares during the quarter. GHP Investment Advisors Inc. owned about 0.07% of Gentex worth $4,980,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Outlook Wealth Advisors LLC raised its position in Gentex by 12.6% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 10,309 shares of the auto parts company’s stock worth $306,000 after purchasing an additional 1,157 shares during the last quarter. BayBridge Capital Group LLC increased its stake in shares of Gentex by 11.8% in the 3rd quarter. BayBridge Capital Group LLC now owns 13,833 shares of the auto parts company’s stock valued at $411,000 after buying an additional 1,456 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Gentex by 24.9% during the third quarter. Assenagon Asset Management S.A. now owns 76,016 shares of the auto parts company’s stock worth $2,257,000 after acquiring an additional 15,145 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Gentex by 4.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 58,442 shares of the auto parts company’s stock valued at $1,735,000 after acquiring an additional 2,388 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Gentex by 53.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 905,080 shares of the auto parts company’s stock valued at $26,872,000 after acquiring an additional 315,164 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

Gentex Trading Up 5.4 %

GNTX stock opened at $31.25 on Friday. Gentex Co. has a 1-year low of $27.86 and a 1-year high of $37.58. The business’s 50-day moving average price is $29.93 and its two-hundred day moving average price is $32.19. The firm has a market cap of $7.19 billion, a PE ratio of 17.46, a P/E/G ratio of 0.91 and a beta of 0.92.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, October 25th. The auto parts company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.03. Gentex had a return on equity of 17.78% and a net margin of 17.87%. The business had revenue of $608.53 million for the quarter, compared to analysts’ expectations of $611.33 million. On average, analysts forecast that Gentex Co. will post 1.94 earnings per share for the current year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.54%. Gentex’s payout ratio is 26.82%.

Insider Buying and Selling

In other news, major shareholder Corp Gentex bought 3,152,500 shares of the stock in a transaction on Friday, August 23rd. The stock was 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 in the company, valued at approximately $32,319,040. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GNTX shares. StockNews.com downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Robert W. Baird reduced their price objective on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Bank of America lowered their target price on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 14th. The Goldman Sachs Group cut their price target on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Finally, UBS Group began coverage on Gentex in a research note on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price objective for the company. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Gentex presently has an average rating of “Hold” and an average price target of $36.13.

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.