Osaic Holdings Inc. Sells 49,987 Shares of Gentex Corporation $GNTX

Osaic Holdings Inc. lessened its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 26.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 137,706 shares of the auto parts company’s stock after selling 49,987 shares during the quarter. Osaic Holdings Inc.’s holdings in Gentex were worth $3,028,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Hsbc Holdings PLC bought a new position in shares of Gentex in the first quarter valued at approximately $700,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Gentex during the 1st quarter worth $1,694,000. Aurora Investment Counsel acquired a new position in Gentex in the 2nd quarter valued at $534,000. Geneos Wealth Management Inc. raised its holdings in Gentex by 23,142.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 26,496 shares of the auto parts company’s stock worth $617,000 after acquiring an additional 26,382 shares during the period. Finally, Parallel Advisors LLC raised its holdings in Gentex by 127.8% in the 2nd quarter. Parallel Advisors LLC now owns 20,065 shares of the auto parts company’s stock worth $441,000 after acquiring an additional 11,258 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Stock Up 0.4%

Shares of GNTX opened at $23.47 on Friday. The stock’s 50-day moving average price is $23.46 and its 200 day moving average price is $24.98. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 13.81 and a beta of 0.78. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $29.52.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, October 24th. The auto parts company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). The firm had revenue of $570.32 million for the quarter, compared to analyst estimates of $661.10 million. Gentex had a return on equity of 15.86% and a net margin of 15.61%.Gentex’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS. Equities research analysts expect that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Wednesday, January 7th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, January 7th. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. Gentex’s payout ratio is currently 28.24%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GNTX. Zacks Research cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. JPMorgan Chase & Co. increased their target price on Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. The Goldman Sachs Group set a $27.00 target price on Gentex and gave the company a “neutral” rating in a report on Monday, October 27th. Robert W. Baird set a $29.00 price target on Gentex in a report on Monday, October 27th. Finally, UBS Group reissued a “neutral” rating and issued a $29.00 price objective (up from $28.00) on shares of Gentex in a research report on Monday, October 6th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $28.29.

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).