NBC Securities Inc. Buys 2,686 Shares of Gentex Co. (NASDAQ:GNTX)

NBC Securities Inc. increased its stake in shares of Gentex Co. (NASDAQ:GNTX) by 268,600.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,687 shares of the auto parts company’s stock after purchasing an additional 2,686 shares during the quarter. NBC Securities Inc.’s holdings in Gentex were worth $62,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP boosted its stake in Gentex by 6.1% in the fourth quarter. Wellington Management Group LLP now owns 18,023,056 shares of the auto parts company’s stock valued at $517,802,000 after acquiring an additional 1,038,912 shares during the last quarter. Burgundy Asset Management Ltd. boosted its stake in Gentex by 1.6% in the fourth quarter. Burgundy Asset Management Ltd. now owns 5,516,817 shares of the auto parts company’s stock valued at $158,498,000 after acquiring an additional 86,929 shares during the last quarter. Geode Capital Management LLC boosted its stake in Gentex by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 5,423,820 shares of the auto parts company’s stock valued at $155,861,000 after acquiring an additional 55,816 shares during the last quarter. TD Asset Management Inc. boosted its stake in Gentex by 7.1% in the fourth quarter. TD Asset Management Inc. now owns 5,415,871 shares of the auto parts company’s stock valued at $155,598,000 after acquiring an additional 356,854 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Gentex by 162.4% in the fourth quarter. JPMorgan Chase & Co. now owns 5,249,230 shares of the auto parts company’s stock valued at $150,810,000 after acquiring an additional 3,248,434 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the firm’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $22.87, for a total transaction of $86,082.68. Following the sale, the director now directly owns 5,939 shares in the company, valued at $135,824.93. This trade represents a 38.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.45% of the stock is currently owned by company insiders.

Gentex Stock Performance

GNTX opened at $22.05 on Thursday. The firm’s fifty day moving average is $21.78 and its two-hundred day moving average is $25.05. The firm has a market cap of $4.96 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 0.84 and a beta of 0.82. Gentex Co. has a twelve month low of $20.28 and a twelve month high of $35.32.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $576.77 million for the quarter, compared to analyst estimates of $578.68 million. Gentex had a net margin of 17.49% and a return on equity of 16.74%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.47 earnings per share. Equities analysts forecast that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.18%. Gentex’s payout ratio is 28.07%.

Wall Street Analysts Forecast Growth

GNTX has been the topic of a number of recent research reports. The Goldman Sachs Group reduced their price objective on shares of Gentex from $28.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Robert W. Baird reaffirmed a “neutral” rating and issued a $25.00 price objective (down from $31.00) on shares of Gentex in a research note on Tuesday, April 15th. UBS Group reduced their price objective on shares of Gentex from $29.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Guggenheim reduced their price objective on shares of Gentex from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Finally, Baird R W cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.31.

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.