BayBridge Capital Group LLC Buys 1,456 Shares of Gentex Co. (NASDAQ:GNTX)

BayBridge Capital Group LLC increased its position in Gentex Co. (NASDAQ:GNTX) by 11.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,833 shares of the auto parts company’s stock after purchasing an additional 1,456 shares during the period. BayBridge Capital Group LLC’s holdings in Gentex were worth $411,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Quest Partners LLC purchased a new position in Gentex in the second quarter worth about $31,000. Gladius Capital Management LP bought a new stake in shares of Gentex during the second quarter valued at approximately $34,000. EverSource Wealth Advisors LLC increased its position in shares of Gentex by 173.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock valued at $42,000 after acquiring an additional 850 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Gentex by 227.8% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock worth $54,000 after acquiring an additional 1,269 shares during the last quarter. Finally, HHM Wealth Advisors LLC bought a new position in Gentex in the 2nd quarter valued at approximately $67,000. Institutional investors own 86.76% of the company’s stock.

Gentex Stock Up 5.4 %

Gentex stock opened at $31.25 on Friday. Gentex Co. has a 52-week low of $27.86 and a 52-week high of $37.58. The company has a market cap of $7.22 billion, a P/E ratio of 16.53, a P/E/G ratio of 0.95 and a beta of 0.92. The business has a 50-day simple moving average of $29.90 and a two-hundred day simple moving average of $32.25.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, October 25th. The auto parts company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. Gentex had a net margin of 17.87% and a return on equity of 17.78%. The company had revenue of $608.53 million for the quarter, compared to the consensus estimate of $611.33 million. Research analysts anticipate that Gentex Co. will post 1.96 EPS for the current fiscal year.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Wednesday, October 9th. Gentex’s payout ratio is 25.40%.

Insider Transactions at Gentex

In related news, major shareholder Corp Gentex bought 3,152,500 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the transaction, the insider now owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.41% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on GNTX. JPMorgan Chase & Co. reduced their target price on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. BNP Paribas downgraded Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective for the company. in a report on Tuesday, July 30th. Robert W. Baird decreased their target price on Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. The Goldman Sachs Group dropped their price target on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Finally, UBS Group initiated coverage on shares of Gentex in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Gentex presently has a consensus rating of “Hold” and an average target price of $36.13.

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.