Hsbc Holdings PLC Buys 101,656 Shares of Gentex Corporation $GNTX

Hsbc Holdings PLC grew its stake in Gentex Corporation (NASDAQ:GNTX) by 308.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,570 shares of the auto parts company’s stock after buying an additional 101,656 shares during the quarter. Hsbc Holdings PLC’s holdings in Gentex were worth $3,141,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hudson Bay Capital Management LP bought a new stake in Gentex during the 3rd quarter worth approximately $3,613,000. WINTON GROUP Ltd bought a new position in shares of Gentex in the third quarter worth approximately $7,258,000. Clark Capital Management Group Inc. purchased a new stake in shares of Gentex in the third quarter worth $8,179,000. Elo Mutual Pension Insurance Co purchased a new stake in shares of Gentex in the third quarter worth $726,000. Finally, Thompson Siegel & Walmsley LLC raised its position in shares of Gentex by 57.1% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 377,484 shares of the auto parts company’s stock valued at $8,784,000 after purchasing an additional 137,245 shares during the period. Institutional investors own 86.76% of the company’s stock.

Insider Buying and Selling at Gentex

In other Gentex news, Director Richard O. Schaum sold 4,815 shares of Gentex stock in a transaction that occurred on Thursday, April 30th. The stock was 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 $1,898,436.33. The trade was a 5.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Brian C. Walker sold 5,939 shares of Gentex stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. Following the completion of the sale, the director directly owned 24,205 shares in the company, valued at approximately $556,230.90. The trade was a 19.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,693 shares of company stock worth $385,194 in the last quarter. 0.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GNTX shares. Robert W. Baird lifted their target price on shares of Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Freedom Capital upgraded Gentex to a “strong-buy” rating in a research note on Friday, March 27th. Weiss Ratings raised Gentex from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. UBS Group set a $26.00 price objective on Gentex in a research report on Sunday, April 26th. Finally, Wall Street Zen lowered Gentex from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $26.83.

Gentex Price Performance

Shares of GNTX stock opened at $25.65 on Monday. The company’s fifty day simple moving average is $24.04 and its two-hundred day simple moving average is $23.44. Gentex Corporation has a 52 week low of $20.48 and a 52 week high of $29.38. The stock has a market cap of $5.46 billion, a P/E ratio of 14.41 and a beta of 0.79.

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

Gentex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, July 8th. Gentex’s dividend payout ratio (DPR) is currently 26.97%.

Gentex Company 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).