Aigen Investment Management LP Acquires New Stake in Gentex Corporation $GNTX

Aigen Investment Management LP acquired a new stake in shares of Gentex Corporation (NASDAQ:GNTX) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 126,458 shares of the auto parts company’s stock, valued at approximately $2,943,000. Gentex makes up approximately 0.7% of Aigen Investment Management LP’s investment portfolio, making the stock its 24th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP bought a new position in Gentex during the 3rd quarter valued at approximately $3,613,000. WINTON GROUP Ltd bought a new position in Gentex during the 3rd quarter valued at approximately $7,258,000. Clark Capital Management Group Inc. bought a new position in Gentex during the 3rd quarter valued at approximately $8,179,000. Elo Mutual Pension Insurance Co bought a new position in Gentex during the 3rd quarter valued at approximately $726,000. Finally, JPMorgan Chase & Co. increased its position in Gentex by 21.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,725,426 shares of the auto parts company’s stock valued at $190,330,000 after buying an additional 1,206,060 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Analysts Set New Price Targets

GNTX has been the subject of a number of analyst reports. UBS Group set a $26.00 price objective on Gentex in a research report on Sunday, April 26th. JPMorgan Chase & Co. increased their target price on Gentex from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Robert W. Baird increased their target price on Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. B. Riley Financial reiterated a “buy” rating and set a $29.00 target price (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. Finally, Freedom Capital upgraded Gentex to a “strong-buy” rating in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $26.83.

Insider Transactions at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brian C. Walker sold 5,939 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. Following the completion of the transaction, the director owned 24,205 shares in the company, valued at approximately $556,230.90. This trade represents a 19.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,693 shares of company stock worth $385,194 in the last ninety days. Insiders own 0.55% of the company’s stock.

Gentex Trading Up 0.6%

Shares of GNTX opened at $25.86 on Friday. The business’s fifty day simple moving average is $23.28 and its two-hundred day simple moving average is $23.24. Gentex Corporation has a 12 month low of $20.48 and a 12 month high of $29.38. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 14.53 and a beta of 0.79.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, April 24th. The auto parts company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.44 by $0.04. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The business had revenue of $675.44 million for the quarter, compared to the consensus estimate of $649.42 million. During the same period last year, the business posted $0.42 EPS. The company’s revenue was up 17.1% compared to the same quarter last year. As a group, research analysts forecast that Gentex Corporation will post 1.96 EPS for the current year.

Gentex Dividend Announcement

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

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).