256,478 Shares in Gentex Corporation $GNTX Acquired by WINTON GROUP Ltd

WINTON GROUP Ltd acquired a new stake in shares of Gentex Corporation (NASDAQ:GNTX) in the third quarter, HoldingsChannel.com reports. The fund acquired 256,478 shares of the auto parts company’s stock, valued at approximately $7,258,000.

Several other institutional investors and hedge funds have also recently modified their holdings of GNTX. Russell Investments Group Ltd. boosted its position in shares of Gentex by 705.9% during the third quarter. Russell Investments Group Ltd. now owns 222,579 shares of the auto parts company’s stock worth $6,299,000 after acquiring an additional 194,961 shares during the last quarter. Schroder Investment Management Group purchased a new stake in Gentex in the 3rd quarter worth $7,782,000. Private Advisor Group LLC lifted its stake in Gentex by 7.5% in the 3rd quarter. Private Advisor Group LLC now owns 12,357 shares of the auto parts company’s stock worth $350,000 after purchasing an additional 857 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC bought a new position in shares of Gentex during the 3rd quarter valued at about $351,000. Finally, Blair William & Co. IL purchased a new position in shares of Gentex during the third quarter valued at about $200,000. Institutional investors own 86.76% of the company’s stock.

Gentex Trading Down 1.9%

GNTX opened at $22.08 on Monday. The stock has a 50-day moving average of $23.85 and a 200 day moving average of $24.87. Gentex Corporation has a 12 month low of $20.28 and a 12 month high of $29.38. The firm has a market cap of $4.76 billion, a P/E ratio of 12.69 and a beta of 0.76.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, January 30th. The auto parts company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $644.40 million for the quarter, compared to the consensus estimate of $650.90 million. Gentex had a return on equity of 16.05% and a net margin of 15.19%.The company’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 earnings per share. On average, research analysts forecast that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, April 8th. This represents a $0.48 annualized dividend and a dividend yield of 2.2%. Gentex’s payout ratio is currently 27.59%.

Insider Activity at Gentex

In other Gentex news, CEO Steven R. Downing sold 35,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $24.75, for a total transaction of $866,250.00. Following the transaction, the chief executive officer owned 211,670 shares in the company, valued at $5,238,832.50. The trade was a 14.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Neil Boehm sold 11,248 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $24.82, for a total transaction of $279,175.36. Following the completion of the sale, the chief technology officer directly owned 58,951 shares in the company, valued at approximately $1,463,163.82. This represents a 16.02% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 58,133 shares of company stock worth $1,442,313. Company insiders own 0.45% of the company’s stock.

Analyst Ratings Changes

GNTX has been the topic of several research reports. Robert W. Baird set a $26.00 target price on Gentex in a report on Wednesday, January 14th. Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a report on Thursday, January 22nd. B. Riley Financial reduced their price objective on Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. UBS Group set a $25.00 price objective on Gentex in a report on Monday, February 2nd. Finally, Wall Street Zen upgraded Gentex from a “hold” rating to a “buy” rating in a research report on Sunday. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $26.71.

About Gentex

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).