Dimensional Fund Advisors LP Sells 16,613 Shares of Gentex Co. (NASDAQ:GNTX)

Posted by Defense World Staff on Sep 8th, 2023

Dimensional Fund Advisors LP lessened its position in Gentex Co. (NASDAQ:GNTX – Free Report) by 0.4% during the first quarter, Holdings Channel.com reports. The fund owned 3,747,239 shares of the auto parts company’s stock after selling 16,613 shares during the period. Dimensional Fund Advisors LP’s holdings in Gentex were worth $105,030,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC bought a new stake in shares of Gentex during the 1st quarter valued at about $50,000. Ameritas Advisory Services LLC bought a new stake in shares of Gentex during the 1st quarter valued at about $53,000. Covestor Ltd boosted its stake in shares of Gentex by 79.2% during the 1st quarter. Covestor Ltd now owns 1,887 shares of the auto parts company’s stock valued at $55,000 after purchasing an additional 834 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Gentex by 967.2% during the 1st quarter. Spire Wealth Management now owns 2,636 shares of the auto parts company’s stock valued at $74,000 after purchasing an additional 2,389 shares in the last quarter. Finally, ICA Group Wealth Management LLC bought a new stake in shares of Gentex during the 4th quarter valued at about $93,000. Institutional investors own 84.60% of the company’s stock.

Insiders Place Their Bets

In other Gentex news, Director Kathleen Starkoff sold 4,430 shares of Gentex stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $33.20, for a total value of $147,076.00. Following the completion of the transaction, the director now directly owns 21,441 shares of the company’s stock, valued at $711,841.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GNTX. Robert W. Baird lifted their target price on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, July 31st. JPMorgan Chase & Co. lifted their target price on shares of Gentex from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, July 20th. B. Riley lifted their target price on shares of Gentex from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, July 31st. Bank of America raised shares of Gentex from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $26.00 to $33.00 in a research report on Thursday, July 6th. Finally, StockNews.com assumed coverage on shares of Gentex in a research report on Thursday, August 17th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.50.

Get Our Latest Analysis on Gentex

Gentex Price Performance

Shares of NASDAQ GNTX opened at $31.94 on Friday. Gentex Co. has a 1 year low of $23.28 and a 1 year high of $34.33. The stock has a market cap of $7.46 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 0.80 and a beta of 0.96. The firm has a 50-day moving average of $31.95 and a 200 day moving average of $29.08.

Gentex (NASDAQ:GNTX – Get Free Report) last issued its earnings results on Friday, July 28th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.07. The business had revenue of $583.47 million during the quarter, compared to analysts’ expectations of $539.04 million. Gentex had a net margin of 17.23% and a return on equity of 17.37%. Research analysts expect that Gentex Co. will post 1.76 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Friday, October 6th will be issued a $0.12 dividend. The ex-dividend date is Thursday, October 5th. This represents a $0.48 annualized dividend and a yield of 1.50%. Gentex’s dividend payout ratio (DPR) is presently 30.57%.

Gentex Profile

(Free Report)

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, 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.