AGF Management Ltd. Sells 22,525 Shares of Gentex Corporation $GNTX

AGF Management Ltd. lessened its stake in Gentex Corporation (NASDAQ:GNTX) by 16.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 115,629 shares of the auto parts company’s stock after selling 22,525 shares during the quarter. AGF Management Ltd.’s holdings in Gentex were worth $3,272,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB acquired a new stake in shares of Gentex in the 3rd quarter valued at approximately $6,422,000. Aurora Investment Counsel bought a new position in Gentex in the 2nd quarter valued at approximately $534,000. Deprince Race & Zollo Inc. acquired a new stake in Gentex in the third quarter valued at approximately $26,283,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Gentex by 329.8% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 87,438 shares of the auto parts company’s stock valued at $1,923,000 after buying an additional 67,094 shares in the last quarter. Finally, Jump Financial LLC grew its stake in shares of Gentex by 37.3% during the second quarter. Jump Financial LLC now owns 224,065 shares of the auto parts company’s stock worth $4,927,000 after buying an additional 60,827 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

Gentex Trading Up 3.9%

Shares of GNTX stock opened at $24.86 on Thursday. Gentex Corporation has a 1-year low of $20.28 and a 1-year high of $29.38. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 14.29 and a beta of 0.78. The stock has a 50-day moving average of $23.64 and a 200-day moving average of $25.29.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, January 30th. The auto parts company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. Gentex had a return on equity of 16.05% and a net margin of 15.19%.The business had revenue of $644.40 million for the quarter, compared to analysts’ expectations of $650.90 million. During the same period in the prior year, the business posted $0.39 earnings per share. The firm’s revenue was up 19.0% on a year-over-year basis. Sell-side analysts forecast that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Wednesday, January 7th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, January 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.9%. Gentex’s dividend payout ratio is 27.59%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a research note on Thursday, January 22nd. JPMorgan Chase & Co. upped their target price on Gentex from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. UBS Group set a $25.00 target price on Gentex in a research report on Monday. Robert W. Baird set a $26.00 price target on Gentex in a report on Wednesday, January 14th. Finally, B. Riley lowered their price objective on Gentex from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Gentex currently has a consensus rating of “Hold” and a consensus price target 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).