AlphaQuest LLC Sells 70,953 Shares of Gentex Corporation $GNTX

AlphaQuest LLC lowered its stake in Gentex Corporation (NASDAQ:GNTX) by 83.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,021 shares of the auto parts company’s stock after selling 70,953 shares during the quarter. AlphaQuest LLC’s holdings in Gentex were worth $397,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GNTX. Addison Advisors LLC acquired a new position in Gentex during the 2nd quarter worth approximately $25,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Gentex during the third quarter worth $38,000. Grey Fox Wealth Advisors LLC bought a new stake in shares of Gentex during the third quarter worth $65,000. Steph & Co. increased its holdings in shares of Gentex by 30.5% during the third quarter. Steph & Co. now owns 2,684 shares of the auto parts company’s stock worth $76,000 after buying an additional 627 shares in the last quarter. Finally, Bayforest Capital Ltd bought a new position in shares of Gentex in the 2nd quarter valued at $81,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Gentex Trading Down 1.5%

Shares of GNTX stock opened at $24.12 on Friday. 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 $5.28 billion, a price-to-earnings ratio of 13.86 and a beta of 0.78. The stock has a 50-day moving average of $23.70 and a 200-day moving average of $25.30.

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. The business had revenue of $644.40 million for the quarter, compared to analysts’ expectations of $650.90 million. Gentex had a return on equity of 16.05% and a net margin of 15.19%.The firm’s revenue was up 19.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 earnings per share. Sell-side analysts forecast that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

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 2.0%. Gentex’s dividend payout ratio is 27.59%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GNTX. JPMorgan Chase & Co. boosted their price objective on Gentex from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a research note on Thursday, January 22nd. The Goldman Sachs Group set a $27.00 price objective on Gentex and gave the company a “neutral” rating in a research note on Monday, October 27th. UBS Group set a $25.00 price objective on shares of Gentex in a report on Monday, February 2nd. Finally, B. Riley Financial cut their target price on shares of Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Gentex currently has an average rating of “Hold” and a consensus target price of $26.71.

Gentex Company Profile

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).