Trust Point Inc. Buys New Shares in Gentex Co. (NASDAQ:GNTX)

Trust Point Inc. purchased a new position in Gentex Co. (NASDAQ:GNTX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 17,317 shares of the auto parts company’s stock, valued at approximately $566,000.

Several other hedge funds have also bought and sold shares of GNTX. Belpointe Asset Management LLC lifted its stake in Gentex by 414.3% in the 1st quarter. Belpointe Asset Management LLC now owns 900 shares of the auto parts company’s stock worth $25,000 after purchasing an additional 725 shares in the last quarter. VisionPoint Advisory Group LLC lifted its stake in Gentex by 123.6% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,203 shares of the auto parts company’s stock worth $39,000 after purchasing an additional 665 shares in the last quarter. Covestor Ltd lifted its stake in Gentex by 79.2% in the 1st quarter. Covestor Ltd now owns 1,887 shares of the auto parts company’s stock worth $55,000 after purchasing an additional 834 shares in the last quarter. Quent Capital LLC raised its position in shares of Gentex by 209.0% during the 3rd quarter. Quent Capital LLC now owns 1,749 shares of the auto parts company’s stock valued at $57,000 after buying an additional 1,183 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in shares of Gentex by 31.7% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,774 shares of the auto parts company’s stock valued at $78,000 after buying an additional 667 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Stock Down 0.9 %

NASDAQ:GNTX opened at $35.59 on Friday. Gentex Co. has a 52 week low of $25.85 and a 52 week high of $37.58. The firm has a 50 day moving average of $35.53 and a 200 day moving average of $32.77. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 0.98 and a beta of 0.99.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, January 26th. The auto parts company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. Gentex had a net margin of 18.63% and a return on equity of 19.25%. The company had revenue of $589.13 million during the quarter, compared to analysts’ expectations of $563.42 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. Gentex’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, analysts expect that Gentex Co. will post 2.16 EPS for the current year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 17th. Investors of record on Friday, April 5th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.48 dividend on an annualized basis and a yield of 1.35%. Gentex’s payout ratio is 26.09%.

Insiders Place Their Bets

In other Gentex news, CFO Kevin C. Nash sold 13,500 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total value of $446,040.00. Following the completion of the transaction, the chief financial officer now owns 44,321 shares of the company’s stock, valued at $1,464,365.84. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Richard O. Schaum sold 6,022 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $33.93, for a total transaction of $204,326.46. Following the completion of the transaction, the director now owns 62,555 shares of the company’s stock, valued at $2,122,491.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kevin C. Nash sold 13,500 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total transaction of $446,040.00. Following the transaction, the chief financial officer now directly owns 44,321 shares of the company’s stock, valued at approximately $1,464,365.84. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

GNTX has been the topic of several recent research reports. B. Riley upped their target price on shares of Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. JPMorgan Chase & Co. upped their target price on shares of Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. The Goldman Sachs Group upped their price target on shares of Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Guggenheim upped their target price on shares of Gentex from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Finally, StockNews.com upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research note on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Gentex presently has a consensus rating of “Moderate Buy” and an average price target of $37.67.

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.