Federated Hermes Inc. Buys 3,174 Shares of Gentex Co. (NASDAQ:GNTX)

Federated Hermes Inc. increased its position in Gentex Co. (NASDAQ:GNTX) by 12.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,654 shares of the auto parts company’s stock after acquiring an additional 3,174 shares during the quarter. Federated Hermes Inc.’s holdings in Gentex were worth $968,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Synovus Financial Corp boosted its position in shares of Gentex by 1.7% during the 3rd quarter. Synovus Financial Corp now owns 20,068 shares of the auto parts company’s stock valued at $653,000 after acquiring an additional 333 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Gentex by 0.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 50,311 shares of the auto parts company’s stock worth $1,643,000 after buying an additional 336 shares during the last quarter. Lincoln National Corp raised its position in shares of Gentex by 2.3% during the 3rd quarter. Lincoln National Corp now owns 17,940 shares of the auto parts company’s stock valued at $584,000 after buying an additional 411 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in shares of Gentex by 4.3% during the 4th quarter. Raymond James Trust N.A. now owns 10,317 shares of the auto parts company’s stock worth $337,000 after acquiring an additional 426 shares during the last quarter. Finally, Cardinal Capital Management grew its position in Gentex by 1.1% in the fourth quarter. Cardinal Capital Management now owns 43,615 shares of the auto parts company’s stock worth $1,424,000 after acquiring an additional 461 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Gentex Stock Down 1.0 %

NASDAQ:GNTX opened at $33.96 on Thursday. The firm has a market capitalization of $7.86 billion, a P/E ratio of 17.97, a P/E/G ratio of 0.73 and a beta of 0.99. Gentex Co. has a 52 week low of $25.86 and a 52 week high of $37.58. The company has a fifty day moving average of $35.63 and a 200 day moving average of $33.15.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). Gentex had a net margin of 18.77% and a return on equity of 19.19%. The firm had revenue of $590.23 million for the quarter, compared to the consensus estimate of $600.38 million. During the same period last year, the company posted $0.42 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. As a group, analysts anticipate that Gentex Co. will post 2.17 EPS for the current year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, April 5th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Thursday, April 4th. Gentex’s payout ratio is 25.40%.

Insider Buying and Selling

In other Gentex news, CFO Kevin C. Nash sold 13,500 shares of Gentex stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total value of $446,040.00. Following the completion of the sale, the chief financial officer now owns 44,321 shares of the company’s stock, valued at approximately $1,464,365.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by company insiders.

Analysts Set New Price Targets

GNTX has been the subject of several research analyst reports. B. Riley lifted their price target on 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. The Goldman Sachs Group upped their price objective on shares of Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Guggenheim lifted their target price on shares of Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, StockNews.com lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Monday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Gentex presently has an average rating of “Hold” and an average price target of $37.83.

Gentex Profile

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.