Hunter Perkins Capital Management LLC Raises Stock Holdings in Gentex Co. (NASDAQ:GNTX)

Hunter Perkins Capital Management LLC grew its stake in Gentex Co. (NASDAQ:GNTX) by 220.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,590 shares of the auto parts company’s stock after buying an additional 80,190 shares during the quarter. Hunter Perkins Capital Management LLC’s holdings in Gentex were worth $3,462,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Gentex by 0.7% during 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 last quarter. Wellington Management Group LLP raised its position in Gentex by 27.9% during the fourth quarter. Wellington Management Group LLP now owns 8,728,378 shares of the auto parts company’s stock valued at $285,069,000 after purchasing an additional 1,905,356 shares during the period. Boston Partners raised its position in Gentex by 4.2% during the first quarter. Boston Partners now owns 5,706,411 shares of the auto parts company’s stock valued at $206,095,000 after purchasing an additional 230,873 shares during the period. TD Asset Management Inc raised its position in Gentex by 41.2% during the first quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock valued at $168,957,000 after purchasing an additional 1,363,898 shares during the period. Finally, Burgundy Asset Management Ltd. raised its holdings in shares of Gentex by 3.0% in the second quarter. Burgundy Asset Management Ltd. now owns 4,343,880 shares of the auto parts company’s stock worth $146,432,000 after buying an additional 126,416 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Trading Up 0.5 %

Shares of NASDAQ GNTX traded up $0.14 during trading on Wednesday, reaching $29.44. 135,217 shares of the company traded hands, compared to its average volume of 1,448,157. The firm’s fifty day simple moving average is $29.80 and its 200 day simple moving average is $32.52. The stock has a market cap of $6.81 billion, a P/E ratio of 15.50, a PEG ratio of 0.95 and a beta of 0.92. Gentex Co. has a 12-month low of $27.86 and a 12-month high of $37.58.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, July 26th. The auto parts company reported $0.37 earnings per share (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 firm had revenue of $572.93 million during the quarter, compared to analyst estimates of $623.28 million. As a group, research analysts expect that Gentex Co. will post 1.96 EPS for the current year.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Wednesday, October 9th. Gentex’s dividend payout ratio is currently 25.40%.

Insider Transactions at Gentex

In related news, major shareholder Corp Gentex bought 3,152,500 shares of the stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the acquisition, the insider now directly owns 6,463,808 shares in the company, valued at approximately $32,319,040. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GNTX. The Goldman Sachs Group reduced their price target on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. StockNews.com downgraded Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. B. Riley dropped their target price on Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. BNP Paribas cut Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. dropped their target price on Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.13.

Gentex Company 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.