Gentex Corporation $GNTX Shares Purchased by Skylands Capital LLC

Skylands Capital LLC lifted its position in shares of Gentex Corporation (NASDAQ:GNTX) by 230.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,800 shares of the auto parts company’s stock after purchasing an additional 31,250 shares during the quarter. Skylands Capital LLC’s holdings in Gentex were worth $974,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crossmark Global Holdings Inc. boosted its position in Gentex by 13.7% during the third quarter. Crossmark Global Holdings Inc. now owns 16,741 shares of the auto parts company’s stock worth $364,000 after purchasing an additional 2,015 shares in the last quarter. Burns Matteson Capital Management LLC purchased a new stake in shares of Gentex in the third quarter valued at approximately $521,000. Fort Washington Investment Advisors Inc. OH increased its position in shares of Gentex by 3.2% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 1,141,490 shares of the auto parts company’s stock valued at $24,816,000 after buying an additional 35,479 shares in the last quarter. Ifrah Financial Services Inc. acquired a new position in shares of Gentex during the 3rd quarter worth approximately $263,000. Finally, GAMMA Investing LLC raised its stake in shares of Gentex by 17.5% during the 3rd quarter. GAMMA Investing LLC now owns 9,245 shares of the auto parts company’s stock worth $201,000 after buying an additional 1,375 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GNTX shares. JPMorgan Chase & Co. decreased their target price on Gentex from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, August 10th. UBS Group dropped their price target on shares of Gentex from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 7th. Freedom Capital lowered shares of Gentex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Weiss Ratings lowered shares of Gentex from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Finally, Wall Street Zen cut shares of Gentex from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $25.20.

Gentex Price Performance

GNTX opened at $21.00 on Thursday. The company’s 50 day simple moving average is $22.36 and its two-hundred day simple moving average is $23.30. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 11.11 and a beta of 0.86. Gentex Corporation has a 1-year low of $20.48 and a 1-year high of $26.96.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, July 24th. The auto parts company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.08. The company had revenue of $651.30 million during the quarter, compared to analyst estimates of $669.65 million. Gentex had a return on equity of 16.78% and a net margin of 15.50%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.43 earnings per share. On average, equities analysts anticipate that Gentex Corporation will post 2.06 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 21st. Shareholders of record on Wednesday, October 7th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, October 7th. Gentex’s dividend payout ratio (DPR) is 25.40%.

About Gentex

Gentex Corporation (NASDAQ:GNTX) is a technology manufacturer headquartered in Zeeland, Michigan. Founded in 1974, the company develops products primarily for the automotive industry, along with selected applications in the aerospace and fire-protection markets.

Gentex is best known for its automatic-dimming rearview and side-view mirrors, which use electrochromic technology to reduce glare. Its automotive product portfolio also includes camera-based driver-assistance systems, digital vision and sensing technologies, connected-car products, overhead console systems, and HomeLink universal garage-door and home-control systems.