PDT Partners LLC Takes $253,000 Position in Gentex Co. (NASDAQ:GNTX)

PDT Partners LLC purchased a new stake in Gentex Co. (NASDAQ:GNTX) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,100 shares of the auto parts company’s stock, valued at approximately $253,000.

Several other large investors have also modified their holdings of GNTX. Private Capital Group LLC grew its position in Gentex by 49.4% during the first quarter. Private Capital Group LLC now owns 1,180 shares of the auto parts company’s stock worth $42,000 after buying an additional 390 shares in the last quarter. Concord Wealth Partners acquired a new stake in Gentex during the first quarter worth about $49,000. Van ECK Associates Corp acquired a new stake in Gentex during the first quarter worth about $54,000. Wealthcare Advisory Partners LLC acquired a new stake in Gentex during the first quarter worth about $55,000. Finally, Capital Asset Advisory Services LLC acquired a new stake in Gentex during the fourth quarter worth about $60,000. 81.58% of the stock is currently owned by institutional investors.

NASDAQ GNTX opened at $32.19 on Thursday. The firm’s 50 day moving average is $33.55. The firm has a market capitalization of $7.78 billion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 1.54 and a beta of 1.07. Gentex Co. has a 1-year low of $24.99 and a 1-year high of $37.75.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Thursday, April 22nd. The auto parts company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). The company had revenue of $483.70 million for the quarter, compared to analyst estimates of $498.37 million. Gentex had a net margin of 21.62% and a return on equity of 19.81%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 earnings per share. As a group, equities analysts predict that Gentex Co. will post 1.98 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 21st. Shareholders of record on Friday, July 9th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Thursday, July 8th. Gentex’s payout ratio is 34.04%.

In other news, Director James A. Hollars sold 4,061 shares of Gentex stock in a transaction that occurred on Friday, May 21st. The shares were sold at an average price of $34.68, for a total value of $140,835.48. Also, Director Ling Zang sold 10,000 shares of Gentex stock in a transaction that occurred on Tuesday, June 8th. The shares were sold at an average price of $34.34, for a total transaction of $343,400.00. Following the completion of the transaction, the director now owns 11,138 shares of the company’s stock, valued at approximately $382,478.92. The disclosure for this sale can be found here. Insiders have sold 19,501 shares of company stock worth $678,389 over the last ninety days. Company insiders own 0.38% of the company’s stock.

Separately, B. Riley lifted their target price on Gentex from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, April 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $33.14.

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, 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.

Recommended Story: Hang Seng Index (HSI)

Want to see what other hedge funds are holding GNTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gentex Co. (NASDAQ:GNTX).

Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

Receive News & Ratings for Gentex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gentex and related companies with MarketBeat.com's FREE daily email newsletter.