Cardinal Capital Management Buys 7,011 Shares of Gentex Co. (NASDAQ:GNTX)

Cardinal Capital Management lifted its stake in shares of Gentex Co. (NASDAQ:GNTX) by 12.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 63,298 shares of the auto parts company’s stock after acquiring an additional 7,011 shares during the period. Cardinal Capital Management’s holdings in Gentex were worth $1,879,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Quest Partners LLC bought a new stake in shares of Gentex during the 2nd quarter worth about $31,000. Gladius Capital Management LP bought a new stake in Gentex during the 2nd quarter valued at approximately $34,000. EverSource Wealth Advisors LLC boosted its stake in Gentex by 173.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 850 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Gentex by 227.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock valued at $54,000 after purchasing an additional 1,269 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Gentex by 26.3% during 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. Institutional investors own 86.76% of the company’s stock.

Insider Transactions at Gentex

In related news, major shareholder Corp Gentex bought 3,152,500 shares of the company’s stock in a transaction dated 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 acquisition, the insider now owns 6,463,808 shares in the company, valued at approximately $32,319,040. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GNTX. UBS Group began coverage on Gentex in a research note on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price for the company. B. Riley decreased their target price on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, July 29th. Robert W. Baird decreased their target price on Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. BNP Paribas downgraded Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price for the company. in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. cut their price target on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $36.13.

Gentex Stock Up 1.5 %

Gentex stock opened at $29.69 on Friday. The business has a 50 day moving average price of $29.83 and a two-hundred day moving average price of $32.48. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth 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 issued its earnings results on Friday, July 26th. The auto parts company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). Gentex had a return on equity of 17.78% and a net margin of 17.87%. The company had revenue of $572.93 million during the quarter, compared to analyst estimates of $623.28 million. On average, analysts expect that Gentex Co. will post 1.96 earnings per share for the current fiscal 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 $0.12 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.62%. Gentex’s payout ratio is presently 25.40%.

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.