Gentex Co. (NASDAQ:GNTX) Shares Purchased by Outlook Wealth Advisors LLC

Outlook Wealth Advisors LLC grew its position in Gentex Co. (NASDAQ:GNTX) by 26.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,622 shares of the auto parts company’s stock after purchasing an additional 1,804 shares during the period. Outlook Wealth Advisors LLC’s holdings in Gentex were worth $311,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GNTX. Vanguard Group Inc. grew its position in Gentex by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock valued at $727,688,000 after buying an additional 163,373 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Gentex by 27.9% in the 4th quarter. Wellington Management Group LLP now owns 8,728,378 shares of the auto parts company’s stock worth $285,069,000 after acquiring an additional 1,905,356 shares during the period. Burgundy Asset Management Ltd. boosted its holdings in shares of Gentex by 8.5% in the fourth quarter. Burgundy Asset Management Ltd. now owns 4,169,029 shares of the auto parts company’s stock valued at $136,160,000 after acquiring an additional 325,687 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Gentex by 58.1% during the fourth quarter. TD Asset Management Inc now owns 3,313,757 shares of the auto parts company’s stock valued at $108,227,000 after acquiring an additional 1,217,278 shares during the period. Finally, Norges Bank bought a new stake in Gentex during the fourth quarter worth approximately $89,843,000. Institutional investors own 86.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GNTX. B. Riley increased their price target on Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Guggenheim upped their price objective on Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. lifted their target price on Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. StockNews.com raised shares of Gentex from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. Finally, The Goldman Sachs Group lifted their price objective on shares of Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Gentex presently has an average rating of “Moderate Buy” and an average price target of $37.83.

Insider Transactions at Gentex

In related news, Director Richard O. Schaum sold 6,022 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $33.93, for a total transaction of $204,326.46. Following the transaction, the director now directly owns 62,555 shares of the company’s stock, valued at $2,122,491.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Richard O. Schaum sold 6,022 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $33.93, for a total transaction of $204,326.46. Following the transaction, the director now directly owns 62,555 shares of the company’s stock, valued at $2,122,491.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin C. Nash sold 13,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total transaction of $446,040.00. Following the completion of the transaction, the chief financial officer now owns 44,321 shares in the company, valued at approximately $1,464,365.84. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Gentex Stock Performance

Shares of NASDAQ:GNTX traded up $0.06 during midday trading on Friday, reaching $34.71. The company had a trading volume of 2,150,577 shares, compared to its average volume of 1,224,465. The company has a fifty day simple moving average of $35.67 and a two-hundred day simple moving average of $33.09. The firm has a market cap of $8.03 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 0.73 and a beta of 0.99. Gentex Co. has a 1-year low of $25.85 and a 1-year high of $37.58.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, April 26th. The auto parts company reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The business had revenue of $590.23 million for the quarter, compared to the consensus estimate of $600.38 million. Gentex had a net margin of 18.63% and a return on equity of 19.25%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. Analysts expect that Gentex Co. will post 2.17 EPS for the current year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, April 5th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.38%. Gentex’s payout ratio is currently 26.09%.

About Gentex

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.