Fifth Third Bancorp Has $3.55 Million Holdings in Gentex Corporation $GNTX

Fifth Third Bancorp raised its holdings in shares of Gentex Corporation (NASDAQ:GNTX) by 2,542.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 162,270 shares of the auto parts company’s stock after purchasing an additional 156,128 shares during the period. Fifth Third Bancorp’s holdings in Gentex were worth $3,546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Hudson Bay Capital Management LP acquired a new position in Gentex in the third quarter valued at approximately $3,613,000. Thompson Siegel & Walmsley LLC boosted its stake in 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 acquiring an additional 137,245 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Gentex by 2,636.4% during the 4th quarter. Pacer Advisors Inc. now owns 799,243 shares of the auto parts company’s stock worth $18,598,000 after acquiring an additional 770,035 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Gentex by 3,905.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 700,693 shares of the auto parts company’s stock valued at $16,305,000 after acquiring an additional 683,201 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Gentex during the 4th quarter valued at $52,767,000. Institutional investors own 86.76% of the company’s stock.

Analyst Upgrades and Downgrades

GNTX has been the topic of a number of analyst reports. Wall Street Zen downgraded Gentex from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Robert W. Baird lifted their price objective on Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. UBS Group reiterated a “neutral” rating and issued a $25.00 price objective (down from $26.00) on shares of Gentex in a report on Thursday, July 9th. Weiss Ratings upgraded Gentex from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Gentex from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $27.00.

Insider Transactions at Gentex

In related news, Director Richard O. Schaum sold 4,815 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $23.31, for a total transaction of $112,237.65. Following the sale, the director directly owned 81,443 shares in the company, valued at $1,898,436.33. This trade represents a 5.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brian C. Walker sold 5,939 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. Following the completion of the sale, the director directly owned 24,205 shares in the company, valued at $556,230.90. This represents a 19.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 16,693 shares of company stock valued at $385,194 over the last quarter. Corporate insiders own 0.55% of the company’s stock.

Gentex Price Performance

NASDAQ GNTX opened at $24.35 on Monday. Gentex Corporation has a one year low of $20.48 and a one year high of $29.38. The firm has a market cap of $5.19 billion, a P/E ratio of 13.68 and a beta of 0.78. The stock’s 50-day moving average is $24.43 and its 200-day moving average is $23.52.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 earnings per share (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 during the quarter, compared to analyst estimates of $649.42 million. During the same period in the previous year, the firm earned $0.42 EPS. Gentex’s quarterly revenue was up 17.1% compared to the same quarter last year. Equities analysts anticipate that Gentex Corporation will post 1.97 EPS for the current year.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders 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 dividend yield of 2.0%. Gentex’s dividend payout ratio is currently 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).