Quantbot Technologies LP Sells 288,647 Shares of Gentex Corporation $GNTX

Quantbot Technologies LP cut its stake in Gentex Corporation (NASDAQ:GNTX) by 63.2% in the third quarter, Holdings Channel.com reports. The firm owned 167,871 shares of the auto parts company’s stock after selling 288,647 shares during the quarter. Quantbot Technologies LP’s holdings in Gentex were worth $4,751,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in Gentex in the third quarter valued at $179,000. Handelsbanken Fonder AB grew its stake in shares of Gentex by 29.6% in the third quarter. Handelsbanken Fonder AB now owns 81,066 shares of the auto parts company’s stock valued at $2,294,000 after buying an additional 18,500 shares in the last quarter. Choreo LLC increased its holdings in Gentex by 65.2% during the third quarter. Choreo LLC now owns 26,807 shares of the auto parts company’s stock worth $759,000 after buying an additional 10,582 shares during the last quarter. US Bancorp DE raised its position in Gentex by 2.1% during the third quarter. US Bancorp DE now owns 50,589 shares of the auto parts company’s stock worth $1,432,000 after acquiring an additional 1,046 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in Gentex in the 3rd quarter valued at about $991,000. Institutional investors own 86.76% of the company’s stock.

Insiders Place Their Bets

In other Gentex news, CEO Steven R. Downing sold 35,000 shares of Gentex stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $24.75, for a total transaction of $866,250.00. Following the transaction, the chief executive officer owned 211,670 shares of the company’s stock, valued at $5,238,832.50. This trade represents a 14.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Neil Boehm sold 11,248 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $24.82, for a total value of $279,175.36. Following the completion of the transaction, the chief technology officer directly owned 58,951 shares of the company’s stock, valued at approximately $1,463,163.82. This represents a 16.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 58,133 shares of company stock valued at $1,442,313 in the last 90 days. 0.45% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GNTX. Robert W. Baird set a $26.00 price target on Gentex in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gentex in a research report on Thursday, January 22nd. UBS Group set a $25.00 target price on shares of Gentex in a report on Monday, February 2nd. B. Riley Financial reduced their price target on Gentex from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Finally, Wall Street Zen cut Gentex from a “buy” rating to a “hold” rating in a research report on Saturday. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Gentex currently has a consensus rating of “Hold” and an average price target of $26.71.

Gentex Stock Down 1.2%

Shares of GNTX stock opened at $23.40 on Monday. The firm has a 50 day moving average of $23.91 and a 200-day moving average of $25.04. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 13.45 and a beta of 0.76. Gentex Corporation has a 52 week low of $20.28 and a 52 week high of $29.38.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, January 30th. The auto parts company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. Gentex had a net margin of 15.19% and a return on equity of 16.05%. The business had revenue of $644.40 million during the quarter, compared to the consensus estimate of $650.90 million. During the same quarter last year, the firm posted $0.39 EPS. Gentex’s revenue was up 19.0% compared to the same quarter last year. Analysts anticipate that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 8th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, April 8th. This represents a $0.48 annualized dividend and a yield of 2.1%. Gentex’s dividend payout ratio (DPR) is 27.59%.

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).