Gentex Co. (NASDAQ:GNTX) Shares Acquired by Cumberland Partners Ltd

Cumberland Partners Ltd grew its stake in Gentex Co. (NASDAQ:GNTX) by 104.1% during the 4th quarter, Holdings Channel reports. The firm owned 184,655 shares of the auto parts company’s stock after purchasing an additional 94,195 shares during the quarter. Cumberland Partners Ltd’s holdings in Gentex were worth $6,030,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. VisionPoint Advisory Group LLC boosted its position in Gentex by 123.6% during the third quarter. VisionPoint Advisory Group LLC now owns 1,203 shares of the auto parts company’s stock worth $39,000 after acquiring an additional 665 shares during the last quarter. GAMMA Investing LLC acquired a new position in Gentex during the fourth quarter worth about $46,000. Global Retirement Partners LLC boosted its position in Gentex by 371.3% during the fourth quarter. Global Retirement Partners LLC now owns 2,738 shares of the auto parts company’s stock worth $89,000 after acquiring an additional 2,157 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in Gentex by 283.3% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,066 shares of the auto parts company’s stock worth $100,000 after acquiring an additional 2,266 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in Gentex during the third quarter worth about $119,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Stock Performance

Shares of Gentex stock traded up $0.41 on Tuesday, reaching $34.66. The company had a trading volume of 990,659 shares, compared to its average volume of 1,413,707. The firm’s 50 day moving average price is $35.68 and its two-hundred day moving average price is $33.04. The firm has a market cap of $8.02 billion, a PE ratio of 18.84, a PEG ratio of 0.72 and a beta of 0.99. Gentex Co. has a 52-week low of $25.85 and a 52-week high of $37.58.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, January 26th. The auto parts company reported $0.50 earnings per share (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 business had revenue of $589.13 million for the quarter, compared to the consensus estimate of $563.42 million. During the same period in the previous year, the firm earned $0.37 EPS. The business’s revenue was up 19.3% on a year-over-year basis. As a group, sell-side analysts predict that Gentex Co. will post 2.16 EPS for the current year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, April 5th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.38%. The ex-dividend date was Thursday, April 4th. Gentex’s payout ratio is currently 26.09%.

Insider Buying and Selling

In related news, Director Richard O. Schaum sold 6,022 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 62,555 shares of the company’s stock, valued at approximately $2,122,491.15. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Gentex news, CFO Kevin C. Nash sold 13,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total transaction of $446,040.00. Following the completion of the transaction, the chief financial officer now owns 44,321 shares in the company, valued at approximately $1,464,365.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard O. Schaum sold 6,022 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $33.93, for a total transaction of $204,326.46. Following the transaction, the director now owns 62,555 shares of the company’s stock, valued at approximately $2,122,491.15. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. StockNews.com upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research report on Friday, February 23rd. B. Riley boosted their target price on shares of Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Guggenheim boosted their target price on shares of Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, The Goldman Sachs Group boosted their target price on shares of Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.83.

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.