IFG Advisory LLC Acquires 59,407 Shares of Gentex Co. (NASDAQ:GNTX)

IFG Advisory LLC raised its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 85.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 129,203 shares of the auto parts company’s stock after purchasing an additional 59,407 shares during the period. IFG Advisory LLC owned 0.06% of Gentex worth $4,220,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GNTX. Belpointe Asset Management LLC grew its holdings in shares of Gentex by 414.3% during the first quarter. Belpointe Asset Management LLC now owns 900 shares of the auto parts company’s stock valued at $25,000 after buying an additional 725 shares during the last quarter. VisionPoint Advisory Group LLC grew its holdings in shares of Gentex by 123.6% during the third quarter. VisionPoint Advisory Group LLC now owns 1,203 shares of the auto parts company’s stock valued at $39,000 after buying an additional 665 shares during the last quarter. Quent Capital LLC grew its holdings in shares of Gentex by 209.0% during the third 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 during the last quarter. Covestor Ltd grew its holdings in shares of Gentex by 79.2% during the first quarter. Covestor Ltd now owns 1,887 shares of the auto parts company’s stock valued at $55,000 after buying an additional 834 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of Gentex by 31.7% during the first 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 during the last quarter. Institutional investors own 86.76% of the company’s stock.

Insider Buying and Selling at Gentex

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

Gentex Price Performance

Shares of Gentex stock opened at $36.31 on Thursday. The company’s fifty day simple moving average is $35.06 and its 200-day simple moving average is $32.60. The stock has a market capitalization of $8.41 billion, a PE ratio of 19.73, a P/E/G ratio of 0.96 and a beta of 0.99. Gentex Co. has a 1-year low of $25.85 and a 1-year high of $37.58.

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

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Friday, April 5th will be issued a $0.12 dividend. The ex-dividend date is Thursday, April 4th. This represents a $0.48 dividend on an annualized basis and a yield of 1.32%. Gentex’s dividend payout ratio is currently 26.09%.

Analyst Ratings Changes

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

Gentex Company 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.