Chesapeake Capital Corp IL Has $496,000 Holdings in Gentex Co. (NASDAQ:GNTX)

Chesapeake Capital Corp IL lessened its stake in Gentex Co. (NASDAQ:GNTX) by 51.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 14,716 shares of the auto parts company’s stock after selling 15,573 shares during the period. Chesapeake Capital Corp IL’s holdings in Gentex were worth $496,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GNTX. PNC Financial Services Group Inc. lifted its holdings in Gentex by 129.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 111,827 shares of the auto parts company’s stock valued at $3,652,000 after buying an additional 63,152 shares during the period. TD Asset Management Inc grew its stake in Gentex by 58.1% during the fourth quarter. TD Asset Management Inc now owns 3,313,757 shares of the auto parts company’s stock worth $108,227,000 after purchasing an additional 1,217,278 shares during the period. Thematics Asset Management increased its holdings in Gentex by 51.2% in the fourth quarter. Thematics Asset Management now owns 523,207 shares of the auto parts company’s stock worth $17,088,000 after purchasing an additional 177,207 shares in the last quarter. Vanguard Group Inc. lifted its stake in Gentex by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock valued at $727,688,000 after buying an additional 163,373 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of Gentex by 91.0% during the 1st quarter. Cetera Investment Advisers now owns 127,876 shares of the auto parts company’s stock worth $4,619,000 after buying an additional 60,934 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Insider Transactions at Gentex

In related news, major shareholder Corp Gentex acquired 3,152,500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the acquisition, the insider now owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.41% of the company’s stock.

Gentex Price Performance

GNTX opened at $29.83 on Tuesday. Gentex Co. has a fifty-two week low of $27.86 and a fifty-two week high of $37.58. The firm has a market capitalization of $6.87 billion, a P/E ratio of 15.78, a PEG ratio of 0.99 and a beta of 0.92. The company’s 50-day moving average is $31.46 and its 200 day moving average is $33.76.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, July 26th. The auto parts company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). The business had revenue of $572.93 million during the quarter, compared to analysts’ expectations of $623.28 million. Gentex had a return on equity of 17.78% and a net margin of 17.87%. On average, equities research analysts expect that Gentex Co. will post 1.96 earnings per share for the current year.

Gentex Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Wednesday, October 9th. Gentex’s dividend payout ratio is presently 25.40%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GNTX shares. UBS Group initiated coverage on shares of Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price on the stock. JPMorgan Chase & Co. cut their price objective on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. BNP Paribas lowered 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. B. Riley reduced 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. Finally, StockNews.com lowered Gentex from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Five 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 an average rating of “Hold” and an average target price of $36.86.

About Gentex

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.