AXQ Capital LP Invests $1.93 Million in Gentex Corporation $GNTX

AXQ Capital LP purchased a new position in shares of Gentex Corporation (NASDAQ:GNTX) in the 4th quarter, Holdings Channel reports. The firm purchased 82,828 shares of the auto parts company’s stock, valued at approximately $1,927,000.

Several other hedge funds also recently made changes to their positions in the business. Easterly Investment Partners LLC grew its stake in shares of Gentex by 31.0% in the fourth quarter. Easterly Investment Partners LLC now owns 54,214 shares of the auto parts company’s stock valued at $1,262,000 after buying an additional 12,839 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its stake in shares of Gentex by 57.1% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 377,484 shares of the auto parts company’s stock valued at $8,784,000 after buying an additional 137,245 shares in the last quarter. AdvisorShares Investments LLC grew its stake in shares of Gentex by 17.2% in the fourth quarter. AdvisorShares Investments LLC now owns 20,686 shares of the auto parts company’s stock valued at $481,000 after buying an additional 3,031 shares in the last quarter. Norges Bank bought a new position in shares of Gentex in the fourth quarter valued at $52,767,000. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of Gentex in the fourth quarter valued at $63,000. 86.76% of the stock is owned by institutional investors.

Gentex Stock Performance

Shares of Gentex stock opened at $24.08 on Tuesday. The firm has a 50-day moving average of $22.67 and a 200-day moving average of $23.09. The stock has a market cap of $5.13 billion, a PE ratio of 13.53 and a beta of 0.79. Gentex Corporation has a 52-week low of $20.48 and a 52-week high of $29.38.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The company had revenue of $675.44 million during the quarter, compared to analysts’ expectations 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 earnings per share. Equities research analysts predict that Gentex Corporation will post 1.96 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $0.48 annualized dividend and a yield of 2.0%. Gentex’s dividend payout ratio is currently 26.97%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GNTX shares. B. Riley Financial reissued a “buy” rating and issued a $29.00 target price (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. UBS Group set a $26.00 target price on shares of Gentex in a research note on Sunday, April 26th. Wall Street Zen raised shares of Gentex from a “hold” rating to a “buy” rating in a research note on Sunday, March 8th. Robert W. Baird raised their target price on shares of Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Finally, Freedom Capital raised shares of Gentex to a “strong-buy” rating in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $26.83.

Insider Buying and Selling

In other Gentex news, Director Richard O. Schaum sold 4,815 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $23.31, for a total transaction of $112,237.65. Following the completion of the transaction, the director owned 81,443 shares of the company’s stock, valued at approximately $1,898,436.33. The trade was a 5.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph B. Anderson, Jr. sold 5,939 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,693 shares of company stock valued at $385,194 over the last quarter. 0.55% of the stock is owned by company 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).