Cumberland Partners Ltd Increases Position in Gentex Co. (NASDAQ:GNTX)

Cumberland Partners Ltd grew its position in shares of Gentex Co. (NASDAQ:GNTX) by 104.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 184,655 shares of the auto parts company’s stock after buying an additional 94,195 shares during the quarter. Cumberland Partners Ltd owned 0.08% of Gentex worth $6,030,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in shares of Gentex during the fourth quarter valued at approximately $46,000. Greenleaf Trust increased its position in shares of Gentex by 20.5% during the fourth quarter. Greenleaf Trust now owns 9,466 shares of the auto parts company’s stock valued at $309,000 after acquiring an additional 1,610 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Gentex by 12.0% during the fourth quarter. Federated Hermes Inc. now owns 29,654 shares of the auto parts company’s stock valued at $968,000 after acquiring an additional 3,174 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Gentex by 8.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,523 shares of the auto parts company’s stock valued at $1,683,000 after acquiring an additional 4,221 shares in the last quarter. Finally, Hamilton Point Investment Advisors LLC increased its position in shares of Gentex by 1.7% during the fourth quarter. Hamilton Point Investment Advisors LLC now owns 202,743 shares of the auto parts company’s stock valued at $6,622,000 after acquiring an additional 3,345 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Insider Buying and Selling at Gentex

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

Gentex Trading Up 1.2 %

Shares of GNTX traded up $0.41 during trading hours on Tuesday, reaching $34.66. 990,659 shares of the stock traded hands, compared to its average volume of 1,413,707. Gentex Co. has a 52-week low of $25.85 and a 52-week high of $37.58. The company’s 50-day moving average price is $35.68 and its two-hundred day moving average price is $33.04. The company has a market cap of $8.02 billion, a P/E ratio of 18.84, a price-to-earnings-growth ratio of 0.72 and a beta of 0.99.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, January 26th. The auto parts company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. Gentex had a net margin of 18.63% and a return on equity of 19.25%. The company had revenue of $589.13 million for the quarter, compared to analysts’ expectations of $563.42 million. During the same quarter in the previous year, the company earned $0.37 EPS. Gentex’s revenue for the quarter was up 19.3% on a year-over-year basis. On average, research analysts forecast that Gentex Co. will post 2.16 EPS for the current year.

Gentex Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.