Inspire Investing LLC Has $1.21 Million Stock Position in Gentex Co. (NASDAQ:GNTX)

by · The Cerbat Gem

Inspire Investing LLC reduced its holdings in shares of Gentex Co. (NASDAQ:GNTX – Free Report) by 39.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,666 shares of the auto parts company’s stock after selling 26,154 shares during the quarter. Inspire Investing LLC’s holdings in Gentex were worth $1,207,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Neo Ivy Capital Management acquired a new stake in shares of Gentex in the 4th quarter valued at approximately $29,000. Quest Partners LLC bought a new position in Gentex in the 2nd quarter valued at approximately $31,000. Gladius Capital Management LP acquired a new stake in Gentex in the second quarter valued at approximately $34,000. EverSource Wealth Advisors LLC grew its stake in shares of Gentex by 173.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock worth $42,000 after buying an additional 850 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Gentex by 26.3% during the first quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock worth $63,000 after buying an additional 363 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Corp Gentex acquired 3,152,500 shares of the stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the purchase, the insider now directly owns 6,463,808 shares of the company’s stock, valued at $32,319,040. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.41% of the company’s stock.

Gentex Stock Performance

NASDAQ:GNTX opened at $29.32 on Monday. Gentex Co. has a 52 week low of $27.86 and a 52 week high of $37.58. The firm’s fifty day moving average is $29.78 and its 200-day moving average is $32.61. The firm has a market cap of $6.78 billion, a P/E ratio of 15.51, a P/E/G ratio of 0.95 and a beta of 0.92.

Gentex (NASDAQ:GNTX – Get Free Report) last issued its quarterly earnings results on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). Gentex had a net margin of 17.87% and a return on equity of 17.78%. The firm had revenue of $572.93 million for the quarter, compared to the consensus estimate of $623.28 million. As a group, sell-side analysts anticipate that Gentex Co. will post 1.96 earnings per share for the current year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.64%. The ex-dividend date is Wednesday, October 9th. Gentex’s dividend payout ratio (DPR) is presently 25.40%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GNTX shares. StockNews.com downgraded Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. BNP Paribas cut Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target on the stock. in a report on Tuesday, July 30th. Robert W. Baird dropped their price objective on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Monday, July 29th. The Goldman Sachs Group reduced their target price on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Gentex presently has a consensus rating of “Hold” and a consensus target price of $36.29.

View Our Latest Stock Report on GNTX

Gentex Company Profile

(Free Report)

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.

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