Tiedemann Wealth Management LLC Takes Position in Gentex Co. (GNTX)

Tiedemann Wealth Management LLC purchased a new position in shares of Gentex Co. (NASDAQ:GNTX) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 13,603 shares of the auto parts company’s stock, valued at approximately $290,000.

Other large investors have also recently added to or reduced their stakes in the company. Northern Trust Corp boosted its stake in Gentex by 0.7% in the third quarter. Northern Trust Corp now owns 3,137,997 shares of the auto parts company’s stock worth $55,103,000 after buying an additional 23,050 shares during the period. Bahl & Gaynor Inc. boosted its stake in Gentex by 2.0% in the third quarter. Bahl & Gaynor Inc. now owns 490,687 shares of the auto parts company’s stock worth $8,617,000 after buying an additional 9,610 shares during the period. Rikoon Group LLC purchased a new stake in Gentex during the third quarter worth about $899,000. JPMorgan Chase & Co. boosted its stake in Gentex by 27.8% in the third quarter. JPMorgan Chase & Co. now owns 52,734 shares of the auto parts company’s stock worth $926,000 after buying an additional 11,458 shares during the period. Finally, Goelzer Investment Management Inc. boosted its stake in Gentex by 0.3% in the third quarter. Goelzer Investment Management Inc. now owns 247,686 shares of the auto parts company’s stock worth $4,349,000 after buying an additional 835 shares during the period. Institutional investors own 83.86% of the company’s stock.

Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

Shares of Gentex Co. (NASDAQ:GNTX) traded up 0.70% on Friday, hitting $18.83. 2,653,939 shares of the stock were exchanged. The company has a 50-day moving average price of $20.19 and a 200-day moving average price of $20.04. Gentex Co. has a one year low of $14.66 and a one year high of $22.12. The firm has a market capitalization of $5.41 billion, a PE ratio of 15.19 and a beta of 0.96.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, April 21st. The auto parts company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. The business had revenue of $453.54 million during the quarter, compared to the consensus estimate of $444.92 million. Gentex had a net margin of 20.70% and a return on equity of 19.05%. Gentex’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 EPS. Equities research analysts expect that Gentex Co. will post $1.31 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 19th. Investors of record on Thursday, July 6th will be issued a dividend of $0.10 per share. This is an increase from Gentex’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, July 3rd. This represents a $0.40 annualized dividend and a dividend yield of 2.14%. Gentex’s payout ratio is presently 29.75%.

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A number of equities research analysts have issued reports on the stock. Wellington Shields cut shares of Gentex from a “buy” rating to an “accumulate” rating in a report on Friday, January 27th. Zacks Investment Research upgraded shares of Gentex from a “sell” rating to a “hold” rating in a report on Thursday, January 26th. BMO Capital Markets restated a “positive” rating and set a $25.00 price target on shares of Gentex in a report on Friday, March 24th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $21.50 price objective on shares of Gentex in a research report on Tuesday, January 31st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $23.10.

In related news, Director John A. Mulder sold 10,000 shares of Gentex stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $21.28, for a total transaction of $212,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Scott P. Ryan sold 4,920 shares of Gentex stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $20.38, for a total transaction of $100,269.60. Following the sale, the general counsel now directly owns 18,585 shares of the company’s stock, valued at approximately $378,762.30. The disclosure for this sale can be found here. Insiders have sold a total of 45,610 shares of company stock valued at $947,029 in the last ninety days. 2.90% of the stock is currently owned by insiders.

About Gentex

Gentex Corporation designs and manufactures automatic-dimming rearview mirrors and electronics for the automotive industry, dimmable aircraft windows for the aviation industry, and commercial smoke alarms and signaling devices for the fire protection industry. The Company’s business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.

5 Day Chart for NASDAQ:GNTX

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