Gentex (NASDAQ:GNTX) Director Sells $136,478.22 in Stock

Gentex Corporation (NASDAQ:GNTX) Director Joseph Anderson, Jr. sold 5,939 shares of Gentex stock in a transaction on Friday, May 15th. The stock was sold at an average price of $22.98, for a total transaction of $136,478.22. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Gentex Stock Down 2.3%

Gentex stock traded down $0.54 during mid-day trading on Friday, hitting $22.87. 1,802,471 shares of the stock were exchanged, compared to its average volume of 2,255,940. Gentex Corporation has a 12 month low of $20.48 and a 12 month high of $29.38. The firm’s fifty day simple moving average is $22.19 and its two-hundred day simple moving average is $23.08. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of 12.85 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.04. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The firm had revenue of $675.44 million during the quarter, compared to analyst estimates of $649.42 million. During the same quarter last year, the business earned $0.42 EPS. The company’s revenue was up 17.1% compared to the same quarter last year. As a group, analysts forecast that Gentex Corporation will post 1.92 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th were paid a $0.12 dividend. The ex-dividend date was Wednesday, April 8th. This represents a $0.48 annualized dividend and a dividend yield of 2.1%. Gentex’s payout ratio is currently 26.97%.

Analyst Ratings Changes

GNTX has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Gentex from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday. Wall Street Zen upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research note on Sunday, March 8th. Robert W. Baird lifted their price objective on shares of Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. B. Riley Financial reiterated a “buy” rating and issued a $29.00 price objective (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. Finally, Freedom Capital upgraded shares of Gentex to a “strong-buy” rating in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Gentex currently has a consensus rating of “Hold” and a consensus price target of $26.83.

Institutional Trading of Gentex

Several hedge funds have recently modified their holdings of GNTX. Wellington Management Group LLP increased its stake in Gentex by 10.3% during the 3rd quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company’s stock valued at $419,636,000 after purchasing an additional 1,383,203 shares in the last quarter. Bank of Montreal Can increased its stake in Gentex by 14,398.7% during the 4th quarter. Bank of Montreal Can now owns 7,726,057 shares of the auto parts company’s stock valued at $179,785,000 after purchasing an additional 7,672,769 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Gentex by 12.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,463,299 shares of the auto parts company’s stock valued at $163,067,000 after purchasing an additional 833,919 shares in the last quarter. State Street Corp increased its stake in Gentex by 1.0% during the 2nd quarter. State Street Corp now owns 7,439,333 shares of the auto parts company’s stock valued at $163,591,000 after purchasing an additional 74,779 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Gentex by 2.0% during the 3rd quarter. American Century Companies Inc. now owns 6,742,293 shares of the auto parts company’s stock valued at $190,807,000 after purchasing an additional 131,035 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

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).