SG Americas Securities LLC Raises Holdings in Gentex Co. (NASDAQ:GNTX)

SG Americas Securities LLC increased its stake in shares of Gentex Co. (NASDAQ:GNTX) by 212.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,632 shares of the auto parts company’s stock after acquiring an additional 21,508 shares during the period. SG Americas Securities LLC’s holdings in Gentex were worth $939,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of GNTX. Speece Thorson Capital Group Inc. grew its stake in shares of Gentex by 0.7% during the 4th quarter. Speece Thorson Capital Group Inc. now owns 517,623 shares of the auto parts company’s stock worth $16,906,000 after purchasing an additional 3,414 shares during the period. Neo Ivy Capital Management purchased a new stake in Gentex during the fourth quarter worth $29,000. Wellington Management Group LLP grew its position in 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 buying an additional 1,905,356 shares during the period. ICA Group Wealth Management LLC purchased a new position in Gentex in the fourth quarter valued at $127,000. Finally, Vanguard Group Inc. raised its position in shares of Gentex by 0.7% in the fourth 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 during the period. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Gentex

In related news, major shareholder Corp Gentex purchased 3,152,500 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the completion of the acquisition, the insider now 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 legal filing with the SEC, which is available through this link. Insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

GNTX has been the topic of a number of analyst reports. B. Riley dropped their target price on Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. StockNews.com lowered Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. 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. Robert W. Baird dropped their price target 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, The Goldman Sachs Group cut their price target on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Gentex presently has a consensus rating of “Hold” and a consensus price target of $36.29.

Gentex Stock Performance

NASDAQ GNTX opened at $29.32 on Friday. The business has a fifty day moving average price of $29.79 and a 200 day moving average price of $32.71. Gentex Co. has a one year low of $27.86 and a one year high of $37.58. The company has a market cap of $6.78 billion, a P/E ratio of 15.51, a P/E/G ratio of 0.95 and a beta of 0.92.

Gentex (NASDAQ:GNTX) last released 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). The business had revenue of $572.93 million for the quarter, compared to analysts’ expectations of $623.28 million. Gentex had a return on equity of 17.78% and a net margin of 17.87%. As a group, sell-side analysts predict that Gentex Co. will post 1.96 EPS 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 paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Wednesday, October 9th. Gentex’s dividend payout ratio (DPR) is 25.40%.

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.