Gentex Co. (NASDAQ:GNTX) Shares Purchased by Wedge Capital Management L L P NC

by · The Cerbat Gem

Wedge Capital Management L L P NC lifted its holdings in Gentex Co. (NASDAQ:GNTX – Free Report) by 8.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 394,025 shares of the auto parts company’s stock after purchasing an additional 30,670 shares during the period. Wedge Capital Management L L P NC owned approximately 0.17% of Gentex worth $11,699,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GNTX. Wellington Management Group LLP grew its holdings in shares of Gentex by 27.9% in 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 in the last quarter. ICA Group Wealth Management LLC acquired a new position in Gentex during the 4th quarter worth approximately $127,000. Vanguard Group Inc. grew its holdings in Gentex by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock worth $727,688,000 after acquiring an additional 163,373 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Gentex by 129.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 111,827 shares of the auto parts company’s stock worth $3,652,000 after acquiring an additional 63,152 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Gentex by 26.3% during the 1st quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock worth $63,000 after acquiring an additional 363 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Robert W. Baird lowered their price target on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Monday, July 29th. B. Riley lowered their price target on shares of Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a report on Monday, July 29th. JPMorgan Chase & Co. lowered their price target on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. The Goldman Sachs Group reduced their price objective on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Finally, UBS Group assumed coverage on shares of Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Gentex presently has a consensus rating of “Hold” and an average target price of $36.13.

Read Our Latest Report on Gentex

Gentex Price Performance

GNTX stock opened at $29.55 on Tuesday. The company has a fifty day moving average price of $29.79 and a 200 day moving average price of $32.57. Gentex Co. has a 12 month low of $27.86 and a 12 month high of $37.58. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92.

Gentex (NASDAQ:GNTX – Get Free Report) last released its quarterly earnings results on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.15). Gentex had a net margin of 17.87% and a return on equity of 17.78%. The business had revenue of $572.93 million during the quarter, compared to analysts’ expectations of $623.28 million. As a group, analysts anticipate that Gentex Co. will post 1.96 earnings per share for the current year.

Gentex Dividend Announcement

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

Insider Activity at Gentex

In other Gentex news, major shareholder Corp Gentex purchased 3,152,500 shares of Gentex stock in a transaction that occurred 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 transaction, the insider now directly owns 6,463,808 shares in the company, valued at $32,319,040. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.41% of the stock is owned by insiders.

Gentex Profile

(Free Report)

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.

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