Susquehanna Fundamental Investments LLC Increases Position in Gentex Co. (NASDAQ:GNTX)

Susquehanna Fundamental Investments LLC boosted its position in Gentex Co. (NASDAQ:GNTX) by 43.7% in the 2nd quarter, Holdings Channel reports. The fund owned 126,850 shares of the auto parts company’s stock after purchasing an additional 38,589 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Gentex were worth $4,276,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Scharf Investments LLC boosted its stake in Gentex by 36,001.4% in the 2nd quarter. Scharf Investments LLC now owns 2,278,357 shares of the auto parts company’s stock worth $76,803,000 after buying an additional 2,272,046 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Gentex by 301.6% in the fourth quarter. First Trust Advisors LP now owns 2,568,775 shares of the auto parts company’s stock worth $83,896,000 after acquiring an additional 1,929,150 shares during the last quarter. Wellington Management Group LLP grew its holdings in Gentex by 27.9% in 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 purchasing an additional 1,905,356 shares during the period. TD Asset Management Inc increased its position in Gentex by 41.2% during 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, Motley Fool Asset Management LLC raised its stake in Gentex by 287.7% during the first quarter. Motley Fool Asset Management LLC now owns 1,204,152 shares of the auto parts company’s stock worth $43,494,000 after purchasing an additional 893,552 shares during the period. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Gentex Stock Performance

Gentex stock opened at $30.98 on Monday. The firm has a market capitalization of $7.16 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92. Gentex Co. has a one year low of $27.86 and a one year high of $37.58. The stock’s 50 day moving average price is $30.28 and its 200 day moving average price is $33.10.

Gentex (NASDAQ:GNTX) last posted 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 firm had revenue of $572.93 million for the quarter, compared to analyst estimates of $623.28 million. Gentex had a return on equity of 17.78% and a net margin of 17.87%. On average, analysts forecast 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. Stockholders of record on Wednesday, October 9th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.55%. Gentex’s dividend payout ratio is presently 25.40%.

Analyst Ratings Changes

Several brokerages have recently issued reports on GNTX. BNP Paribas cut shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research note on Tuesday, July 30th. JPMorgan Chase & Co. dropped their price target on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. UBS Group started coverage on Gentex in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price objective on the stock. 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. Finally, StockNews.com cut shares of Gentex from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $36.86.

Insider Transactions at Gentex

In other Gentex news, major shareholder Corp Gentex acquired 3,152,500 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the acquisition, the insider now directly owns 6,463,808 shares of the company’s stock, valued at $32,319,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.41% of the company’s stock.

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.