AlphaQuest LLC Sells 70,953 Shares of Gentex Corporation $GNTX

AlphaQuest LLC reduced its position in Gentex Corporation (NASDAQ:GNTX - Free Report) by 83.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 14,021 shares of the auto parts company's stock after selling 70,953 shares during the period. AlphaQuest LLC's holdings in Gentex were worth $397,000 as of its most recent filing with the SEC.

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A number of other institutional investors have also recently bought and sold shares of GNTX. Addison Advisors LLC bought a new position in shares of Gentex during the 2nd quarter worth approximately $25,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Gentex in the 3rd quarter valued at $38,000. Grey Fox Wealth Advisors LLC acquired a new stake in Gentex during the 3rd quarter valued at $65,000. Steph & Co. boosted its position in Gentex by 30.5% during the third quarter. Steph & Co. now owns 2,684 shares of the auto parts company's stock worth $76,000 after purchasing an additional 627 shares during the period. Finally, Bayforest Capital Ltd bought a new position in Gentex during the second quarter worth $81,000. Institutional investors and hedge funds own 86.76% of the company's stock.

Gentex Stock Down 1.5%

Shares of Gentex stock opened at $24.12 on Friday. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $29.38. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 13.86 and a beta of 0.78. The firm's 50-day moving average price is $23.70 and its two-hundred day moving average price is $25.30.

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Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings results on Friday, January 30th. The auto parts company reported $0.43 earnings per share for the quarter, hitting analysts' consensus estimates of $0.43. The company had revenue of $644.40 million during the quarter, compared to the consensus estimate of $650.90 million. Gentex had a net margin of 15.19% and a return on equity of 16.05%. The firm's quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 EPS. On average, sell-side analysts expect that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Wednesday, January 7th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, January 7th. Gentex's dividend payout ratio (DPR) is currently 27.59%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GNTX shares. Robert W. Baird set a $26.00 price objective on shares of Gentex in a research report on Wednesday, January 14th. B. Riley Financial lowered their price target on shares of Gentex from $32.00 to $28.00 and set a "buy" rating on the stock in a report on Monday, February 2nd. UBS Group set a $25.00 price objective on shares of Gentex in a research report on Monday, February 2nd. The Goldman Sachs Group set a $27.00 target price on Gentex and gave the company a "neutral" rating in a research report on Monday, October 27th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Gentex in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $26.71.

View Our Latest Analysis on Gentex

About Gentex

Gentex Corporation NASDAQ: GNTX is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company's primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world's leading original equipment manufacturers (OEMs).

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