Corient Private Wealth LLC Buys 21,963 Shares of Gentex Corporation $GNTX

Corient Private Wealth LLC boosted its stake in Gentex Corporation (NASDAQ:GNTX) by 49.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,612 shares of the auto parts company’s stock after purchasing an additional 21,963 shares during the quarter. Corient Private Wealth LLC’s holdings in Gentex were worth $1,551,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clearstead Advisors LLC boosted its position in shares of Gentex by 21.4% during the 4th quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock worth $58,000 after purchasing an additional 437 shares in the last quarter. Gagnon Securities LLC increased its position in Gentex by 0.8% in the 4th quarter. Gagnon Securities LLC now owns 55,672 shares of the auto parts company’s stock valued at $1,295,000 after buying an additional 458 shares in the last quarter. First Citizens Bank & Trust Co. raised its stake in Gentex by 1.9% during the 4th quarter. First Citizens Bank & Trust Co. now owns 29,807 shares of the auto parts company’s stock worth $694,000 after buying an additional 559 shares during the period. Orion Porfolio Solutions LLC boosted its holdings in Gentex by 4.5% in the second quarter. Orion Porfolio Solutions LLC now owns 13,025 shares of the auto parts company’s stock worth $286,000 after acquiring an additional 562 shares in the last quarter. Finally, Merit Financial Group LLC boosted its holdings in Gentex by 2.1% in the fourth quarter. Merit Financial Group LLC now owns 30,641 shares of the auto parts company’s stock worth $713,000 after acquiring an additional 635 shares in the last quarter. 86.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GNTX shares. Robert W. Baird boosted their price objective on Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Freedom Capital upgraded Gentex to a “strong-buy” rating in a report on Friday, March 27th. Wall Street Zen downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. UBS Group set a $26.00 price target on shares of Gentex in a research note on Sunday, April 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Gentex from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Gentex currently has an average rating of “Hold” and an average price target of $26.83.

Gentex Stock Up 0.6%

Shares of NASDAQ:GNTX opened at $25.27 on Wednesday. The business’s 50 day moving average is $24.16 and its 200 day moving average is $23.46. Gentex Corporation has a 12-month low of $20.48 and a 12-month high of $29.38. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 14.20 and a beta of 0.79.

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

Gentex Dividend Announcement

The company also recently declared 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, July 8th. Gentex’s dividend payout ratio (DPR) is presently 26.97%.

Insider Buying and Selling

In other Gentex news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $22.98, for a total value of $136,478.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard O. Schaum sold 4,815 shares of Gentex stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $23.31, for a total transaction of $112,237.65. Following the transaction, the director directly owned 81,443 shares in the company, valued at approximately $1,898,436.33. This represents a 5.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 16,693 shares of company stock worth $385,194. 0.55% of the stock is owned by 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).