Corient Private Wealth LLC Buys 21,963 Shares of Gentex Corporation $GNTX

Corient Private Wealth LLC increased its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 49.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,612 shares of the auto parts company’s stock after buying an additional 21,963 shares during the period. Corient Private Wealth LLC’s holdings in Gentex were worth $1,551,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GNTX. Bank of Montreal Can grew its position in shares of Gentex by 14,398.7% during the 4th quarter. Bank of Montreal Can now owns 7,726,057 shares of the auto parts company’s stock valued at $179,785,000 after acquiring an additional 7,672,769 shares during the period. Caisse de depot et placement du Quebec raised its holdings in shares of Gentex by 297.0% in the 4th quarter. Caisse de depot et placement du Quebec now owns 3,144,881 shares of the auto parts company’s stock worth $73,181,000 after purchasing an additional 2,352,668 shares during the period. Norges Bank bought a new stake in shares of Gentex in the 4th quarter worth approximately $52,767,000. Wellington Management Group LLP lifted its stake in Gentex by 10.3% in the third quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company’s stock valued at $419,636,000 after purchasing an additional 1,383,203 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Gentex by 25.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,629,380 shares of the auto parts company’s stock valued at $154,271,000 after purchasing an additional 1,349,445 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

Gentex Price Performance

NASDAQ GNTX opened at $25.27 on Wednesday. Gentex Corporation has a 1 year low of $20.48 and a 1 year high of $29.38. The stock has a market capitalization of $5.38 billion, a PE ratio of 14.20 and a beta of 0.79. The company’s 50 day simple moving average is $24.16 and its two-hundred day simple moving average is $23.46.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The firm had revenue of $675.44 million during the quarter, compared to analyst estimates of $649.42 million. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 EPS. On average, research analysts anticipate that Gentex Corporation will post 1.96 EPS for the current year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, July 8th. Gentex’s dividend payout ratio is currently 26.97%.

Analysts Set New Price Targets

A number of research firms have issued reports on GNTX. Weiss Ratings raised Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. lifted their price objective on Gentex from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Freedom Capital upgraded Gentex to a “strong-buy” rating in a research note on Friday, March 27th. UBS Group set a $26.00 price objective on shares of Gentex in a report on Sunday, April 26th. Finally, Robert W. Baird increased their target price on shares of Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Gentex has a consensus rating of “Hold” and an average price target of $26.83.

Insiders Place Their Bets

In other Gentex news, Director Brian C. Walker sold 5,939 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. Following the sale, the director owned 24,205 shares of the company’s stock, valued at $556,230.90. This trade represents a 19.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard O. Schaum sold 4,815 shares of Gentex stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $23.31, for a total value of $112,237.65. Following the sale, the director owned 81,443 shares of the company’s stock, valued at approximately $1,898,436.33. This trade represents a 5.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,693 shares of company stock worth $385,194 in the last ninety days. 0.55% of the stock is currently owned by insiders.

Gentex Profile

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).