16,600 Shares in Gentex Co. (NASDAQ:GNTX) Acquired by nVerses Capital LLC

nVerses Capital LLC bought a new position in shares of Gentex Co. (NASDAQ:GNTX) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 16,600 shares of the auto parts company’s stock, valued at approximately $493,000.

A number of other institutional investors have also made changes to their positions in the business. Phoenix Wealth Advisors boosted its stake in Gentex by 3.1% in the 2nd quarter. Phoenix Wealth Advisors now owns 10,196 shares of the auto parts company’s stock valued at $344,000 after purchasing an additional 306 shares during the period. GAMMA Investing LLC boosted its stake in Gentex by 26.3% in the 1st 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 during the period. Toronto Dominion Bank boosted its stake in Gentex by 0.9% in the 1st quarter. Toronto Dominion Bank now owns 42,346 shares of the auto parts company’s stock valued at $1,530,000 after purchasing an additional 370 shares during the period. JLB & Associates Inc. boosted its stake in Gentex by 1.7% in the 1st quarter. JLB & Associates Inc. now owns 24,381 shares of the auto parts company’s stock valued at $881,000 after purchasing an additional 416 shares during the period. Finally, United Services Automobile Association boosted its stake in Gentex by 2.5% in the 2nd quarter. United Services Automobile Association now owns 17,447 shares of the auto parts company’s stock valued at $588,000 after purchasing an additional 427 shares during the period. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Stock Up 1.5 %

NASDAQ:GNTX opened at $29.69 on Friday. The stock’s 50-day simple moving average is $29.83 and its 200 day simple moving average is $32.48. The firm has a market capitalization of $6.86 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92. Gentex Co. has a twelve month low of $27.86 and a twelve 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 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.15). The business 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%. On average, analysts anticipate that Gentex Co. will post 1.96 EPS for the current fiscal year.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.62%. The ex-dividend date is Wednesday, October 9th. Gentex’s dividend payout ratio (DPR) is presently 25.40%.

Analysts Set New Price Targets

Several research firms recently issued reports on GNTX. BNP Paribas downgraded Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target for the company. in a research note on Tuesday, July 30th. UBS Group initiated coverage on Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price for the company. Robert W. Baird cut their target price on Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. Bank of America cut their target price on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday. Finally, B. Riley cut their target price on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Monday, July 29th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Gentex presently has a consensus rating of “Hold” and an average target price of $36.13.

Insider Activity at Gentex

In other news, major shareholder Corp Gentex bought 3,152,500 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the transaction, the insider now owns 6,463,808 shares of the company’s stock, valued at $32,319,040. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.41% of the stock is currently owned by insiders.

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.