Financial Advocates Investment Management Purchases 3,101 Shares of Gentex Co. (NASDAQ:GNTX)

Financial Advocates Investment Management increased its position in shares of Gentex Co. (NASDAQ:GNTX) by 39.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,008 shares of the auto parts company’s stock after acquiring an additional 3,101 shares during the period. Financial Advocates Investment Management’s holdings in Gentex were worth $371,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Gentex by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock worth $727,688,000 after purchasing an additional 163,373 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of 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 acquiring an additional 1,905,356 shares during the last quarter. Boston Partners lifted its holdings in shares of Gentex by 4.2% during the first quarter. Boston Partners now owns 5,706,411 shares of the auto parts company’s stock worth $206,095,000 after purchasing an additional 230,873 shares during the period. TD Asset Management Inc grew its stake in shares of Gentex by 41.2% in the first quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock worth $168,957,000 after purchasing an additional 1,363,898 shares during the last quarter. Finally, Burgundy Asset Management Ltd. increased its holdings in Gentex by 1.2% in the first quarter. Burgundy Asset Management Ltd. now owns 4,217,464 shares of the auto parts company’s stock valued at $152,335,000 after purchasing an additional 48,435 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Corp Gentex bought 3,152,500 shares of Gentex stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the transaction, the insider now directly owns 6,463,808 shares of the company’s stock, valued at $32,319,040. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on GNTX shares. BNP Paribas downgraded Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price on the stock. in a report on Tuesday, July 30th. StockNews.com cut Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. 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. Robert W. Baird reduced their price objective on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Finally, B. Riley lowered their target price on shares of Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, July 29th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $37.33.

Gentex Stock Up 0.8 %

Gentex stock opened at $31.03 on Friday. The stock has a market cap of $7.17 billion, a P/E ratio of 16.42, a P/E/G ratio of 0.91 and a beta of 0.93. The company’s 50 day moving average price is $31.95 and its two-hundred day moving average price is $34.02. Gentex Co. has a 52 week low of $27.86 and a 52 week high of $37.58.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). The business had revenue of $572.93 million for the quarter, compared to the consensus estimate of $623.28 million. Gentex had a return on equity of 17.78% and a net margin of 17.87%. On average, equities analysts anticipate that Gentex Co. will post 2.02 EPS for the current year.

Gentex 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.