Harvest Investment Advisors LLC Makes New Investment in Gentex Corporation $GNTX

Harvest Investment Advisors LLC purchased a new position in shares of Gentex Corporation (NASDAQ:GNTX) in the 4th quarter, HoldingsChannel reports. The firm purchased 77,478 shares of the auto parts company’s stock, valued at approximately $1,803,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Arax Advisory Partners bought a new position in Gentex during the 4th quarter worth approximately $52,000. Employees Retirement System of Texas bought a new position in Gentex during the 4th quarter worth approximately $56,000. Clearstead Advisors LLC raised its holdings in Gentex by 82.3% during the 3rd quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock worth $58,000 after purchasing an additional 922 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in Gentex by 2,420.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock worth $58,000 after purchasing an additional 1,985 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in Gentex during the 4th quarter worth approximately $63,000. Institutional investors own 86.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GNTX. B. Riley Financial restated a “buy” rating and set a $29.00 price target (up from $28.00) on shares of Gentex in a report on Monday, April 27th. Weiss Ratings restated a “hold (c-)” rating on shares of Gentex in a report on Tuesday, June 2nd. Wall Street Zen lowered shares of Gentex from a “buy” rating to a “hold” rating in a report on Saturday. Freedom Capital upgraded shares of Gentex to a “strong-buy” rating in a report on Friday, March 27th. Finally, UBS Group set a $26.00 price objective on shares of Gentex in a research note on Sunday, April 26th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Gentex presently has a consensus rating of “Hold” and a consensus target price of $26.83.

Gentex Trading Down 1.2%

Shares of GNTX stock opened at $25.73 on Wednesday. The firm has a market capitalization of $5.48 billion, a PE ratio of 14.46 and a beta of 0.79. The firm has a fifty day simple moving average of $23.46 and a two-hundred day simple moving average of $23.29. Gentex Corporation has a 12 month low of $20.48 and a 12 month high of $29.38.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The business had revenue of $675.44 million during the quarter, compared to analyst estimates of $649.42 million. Gentex had a net margin of 14.75% and a return on equity of 16.27%. Gentex’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 EPS. On average, equities analysts predict that Gentex Corporation will post 1.96 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, July 8th. Gentex’s payout ratio is 26.97%.

Insider Buying and Selling at Gentex

In other Gentex news, Director Richard O. Schaum sold 4,815 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $23.31, for a total transaction of $112,237.65. Following the completion of the sale, the director owned 81,443 shares in the company, valued at approximately $1,898,436.33. The trade was a 5.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Brian C. Walker sold 5,939 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. Following the sale, the director owned 24,205 shares of the company’s stock, valued at $556,230.90. This trade represents a 19.70% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 16,693 shares of company stock worth $385,194. 0.55% of the stock is owned by corporate insiders.

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).