JLB & Associates Inc. Grows Stock Position in Gentex Co. (NASDAQ:GNTX)

JLB & Associates Inc. boosted its stake in shares of Gentex Co. (NASDAQ:GNTX) by 2.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,031 shares of the auto parts company’s stock after acquiring an additional 490 shares during the quarter. JLB & Associates Inc.’s holdings in Gentex were worth $713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of GNTX. Neo Ivy Capital Management purchased a new position in shares of Gentex in the fourth quarter valued at about $29,000. Quest Partners LLC purchased a new position in Gentex during the 2nd quarter valued at about $31,000. Gladius Capital Management LP bought a new position in Gentex during the 2nd quarter valued at approximately $34,000. EverSource Wealth Advisors LLC raised 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 valued at $42,000 after purchasing an additional 850 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Gentex by 26.3% in 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 during the period. 86.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Corp Gentex purchased 3,152,500 shares of the business’s stock in a transaction dated 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 completion of the acquisition, the insider now directly owns 6,463,808 shares in the company, valued at approximately $32,319,040. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on GNTX. JPMorgan Chase & Co. decreased their target price on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. B. Riley dropped their target price on shares of Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Monday, July 29th. StockNews.com lowered shares of Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. BNP Paribas downgraded shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target for the company. in a research note on Tuesday, July 30th. Finally, Robert W. Baird cut their price objective on Gentex from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.29.

Gentex Stock Performance

Shares of GNTX opened at $29.47 on Thursday. The firm’s 50-day simple moving average is $30.07 and its two-hundred day simple moving average is $32.99. Gentex Co. has a fifty-two week low of $27.86 and a fifty-two week high of $37.58. The stock has a market cap of $6.81 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 0.99 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 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $623.28 million. Equities research analysts predict that Gentex Co. will post 1.96 EPS for the current year.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be paid 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 yield of 1.63%. Gentex’s dividend payout ratio is currently 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.