Systematic Financial Management LP Has $7.36 Million Holdings in Gentex Co. (NASDAQ:GNTX)

Systematic Financial Management LP cut its stake in Gentex Co. (NASDAQ:GNTX) by 4.3% in the second quarter, Holdings Channel.com reports. The firm owned 218,315 shares of the auto parts company’s stock after selling 9,732 shares during the quarter. Systematic Financial Management LP’s holdings in Gentex were worth $7,359,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Neo Ivy Capital Management bought a new stake in Gentex during the 4th quarter worth about $29,000. Quest Partners LLC bought a new stake in Gentex during the 2nd quarter worth about $31,000. Gladius Capital Management LP bought a new stake in Gentex during the 2nd quarter worth about $34,000. EverSource Wealth Advisors LLC lifted its position 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 worth $42,000 after buying an additional 850 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position 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 buying an additional 363 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Stock Up 0.1 %

Gentex stock opened at $30.98 on Monday. The stock has a market cap of $7.16 billion, a P/E ratio of 16.39, a P/E/G ratio of 0.99 and a beta of 0.92. Gentex Co. has a twelve month low of $27.86 and a twelve month high of $37.58. The company’s 50-day moving average price is $30.28 and its two-hundred day moving average price is $33.10.

Gentex (NASDAQ:GNTX) last announced 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 business had revenue of $572.93 million for the quarter, compared to analyst estimates of $623.28 million. Equities analysts anticipate that Gentex Co. will post 1.96 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.55%. Gentex’s payout ratio is presently 25.40%.

Wall Street Analyst Weigh In

GNTX has been the topic of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. StockNews.com cut shares of Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. BNP Paribas cut shares of 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. Robert W. Baird dropped their target price on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. Finally, B. Riley dropped their target price on shares of Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $36.86.

Insiders Place Their Bets

In other Gentex news, major shareholder Corp Gentex bought 3,152,500 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were 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 approximately $32,319,040. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.41% of the company’s stock.

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.