Qube Research & Technologies Ltd purchased a new stake in Gentex Co. (NASDAQ:GNTX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,758 shares of the auto parts company’s stock, valued at approximately $265,000.
A number of other hedge funds have also modified their holdings of GNTX. Creative Financial Designs Inc. ADV purchased a new position in Gentex in the 1st quarter valued at approximately $27,000. Bremer Bank National Association purchased a new stake in shares of Gentex during the 1st quarter worth $29,000. Icon Wealth Partners LLC purchased a new stake in shares of Gentex during the 1st quarter worth $31,000. Carroll Financial Associates Inc. lifted its position in shares of Gentex by 159.1% during the 2nd quarter. Carroll Financial Associates Inc. now owns 1,285 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 789 shares during the last quarter. Finally, Cornerstone Advisors Inc. purchased a new stake in shares of Gentex during the 1st quarter worth $49,000. 82.44% of the stock is owned by institutional investors.
NASDAQ:GNTX traded up $0.35 during midday trading on Wednesday, hitting $26.83. 7,630 shares of the company were exchanged, compared to its average volume of 2,052,980. The company has a fifty day simple moving average of $25.88 and a 200 day simple moving average of $22.81. Gentex Co. has a fifty-two week low of $17.80 and a fifty-two week high of $27.94. The company has a market capitalization of $6.82 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 3.14 and a beta of 1.22.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th were paid a $0.115 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $0.46 dividend on an annualized basis and a yield of 1.71%. Gentex’s dividend payout ratio is presently 28.40%.
Several equities research analysts have recently issued reports on GNTX shares. ValuEngine cut shares of Gentex from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research raised shares of Gentex from a “sell” rating to a “hold” rating and set a $28.00 price objective for the company in a research report on Tuesday, July 23rd. Longbow Research reaffirmed a “hold” rating on shares of Gentex in a research report on Sunday, July 7th. B. Riley set a $29.00 price objective on shares of Gentex and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, BidaskClub raised shares of Gentex from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $23.66.
In other Gentex news, VP Matthew Chiodo sold 5,560 shares of Gentex stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $27.07, for a total value of $150,509.20. Following the transaction, the vice president now directly owns 30,776 shares in the company, valued at $833,106.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gary F. Goode sold 2,586 shares of Gentex stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $27.60, for a total transaction of $71,373.60. Following the completion of the transaction, the director now owns 22,989 shares in the company, valued at $634,496.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,394 shares of company stock worth $937,122. 0.37% of the stock is currently owned by company insiders.
Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.
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