180 Wealth Advisors LLC Purchases 3,282 Shares of Gentex Corporation $GNTX

180 Wealth Advisors LLC increased its position in Gentex Corporation (NASDAQ:GNTX) by 4.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,156 shares of the auto parts company’s stock after purchasing an additional 3,282 shares during the period. 180 Wealth Advisors LLC’s holdings in Gentex were worth $1,609,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in shares of Gentex by 1,471.0% during the 1st quarter. Larson Financial Group LLC now owns 1,084 shares of the auto parts company’s stock valued at $25,000 after buying an additional 1,015 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Gentex by 85.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,222 shares of the auto parts company’s stock valued at $28,000 after acquiring an additional 563 shares during the period. Brooklyn Investment Group boosted its stake in Gentex by 305.7% during the first quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company’s stock worth $28,000 after acquiring an additional 917 shares in the last quarter. State of Wyoming purchased a new stake in Gentex in the first quarter worth about $45,000. Finally, Steph & Co. purchased a new stake in Gentex in the second quarter worth about $45,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analysts Set New Price Targets

GNTX has been the topic of several recent research reports. Robert W. Baird upped their price target on Gentex from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. The Goldman Sachs Group set a $32.00 price target on shares of Gentex in a report on Monday, September 29th. JPMorgan Chase & Co. boosted their price objective on shares of Gentex from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday. Industrial Alliance Securities set a $25.00 price objective on Gentex in a research report on Friday, July 11th. Finally, UBS Group reiterated a “neutral” rating and set a $29.00 target price (up from $28.00) on shares of Gentex in a research note on Monday, October 6th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Gentex presently has a consensus rating of “Hold” and an average price target of $29.14.

Gentex Trading Up 0.4%

Shares of GNTX stock opened at $26.32 on Friday. The stock has a market capitalization of $5.78 billion, a P/E ratio of 14.87 and a beta of 0.84. The firm’s 50 day moving average is $27.65 and its 200 day moving average is $24.51. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $31.48.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, July 25th. The auto parts company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.08. Gentex had a return on equity of 16.86% and a net margin of 16.82%.The firm had revenue of $657.86 million for the quarter, compared to analysts’ expectations of $591.94 million. During the same period in the prior year, the firm earned $0.37 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. As a group, equities analysts predict that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex announced that its board has initiated a share buyback plan on Wednesday, July 16th that permits the company to buyback 40,000,000 shares. This buyback authorization permits the auto parts company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, October 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.8%. Gentex’s dividend payout ratio is currently 27.12%.

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.