Quest Partners LLC Makes New Investment in Gentex Co. (NASDAQ:GNTX)

Quest Partners LLC acquired a new position in shares of Gentex Co. (NASDAQ:GNTX) during the second quarter, HoldingsChannel reports. The firm acquired 921 shares of the auto parts company’s stock, valued at approximately $31,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GNTX. Neo Ivy Capital Management acquired a new stake in shares of Gentex in the fourth quarter valued at about $29,000. Gladius Capital Management LP bought a new stake in Gentex in the 2nd quarter valued at $34,000. GAMMA Investing LLC grew its stake in shares of Gentex by 26.3% in the first quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock valued at $63,000 after acquiring an additional 363 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Gentex during the 2nd quarter worth approximately $73,000. Finally, LRI Investments LLC acquired a new stake in Gentex during the first quarter worth approximately $93,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GNTX. BNP Paribas downgraded shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research note on Tuesday, July 30th. B. Riley reduced their price target on shares of Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. Robert W. Baird decreased 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. StockNews.com cut Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Finally, JPMorgan Chase & Co. decreased their price target on Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Five 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, Gentex presently has an average rating of “Hold” and an average target price of $36.86.

Insider Activity

In related news, major shareholder Corp Gentex purchased 3,152,500 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were acquired at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the purchase, the insider now directly owns 6,463,808 shares of the company’s stock, valued at $32,319,040. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.41% of the stock is owned by corporate insiders.

Gentex Price Performance

Shares of GNTX opened at $29.82 on Friday. Gentex Co. has a 1 year low of $27.86 and a 1 year high of $37.58. The stock’s fifty day moving average price is $30.75 and its two-hundred day moving average price is $33.40. The firm has a market cap of $6.89 billion, a PE ratio of 15.78, a PEG ratio of 0.96 and a beta of 0.92.

Gentex (NASDAQ:GNTX) last issued 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. Sell-side analysts anticipate that Gentex Co. will post 1.96 earnings per share for the current fiscal year.

Gentex Announces Dividend

The firm also recently declared 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. This represents a $0.48 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Wednesday, October 9th. Gentex’s dividend payout ratio (DPR) is presently 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.