Naples Global Advisors LLC Sells 1,650 Shares of Gentex Co. (NASDAQ:GNTX)

Naples Global Advisors LLC trimmed its holdings in Gentex Co. (NASDAQ:GNTX) by 10.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,832 shares of the auto parts company’s stock after selling 1,650 shares during the quarter. Naples Global Advisors LLC’s holdings in Gentex were worth $322,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of GNTX. Midwest Capital Advisors LLC bought a new stake in shares of Gentex in the fourth quarter valued at approximately $26,000. TD Private Client Wealth LLC raised its stake in shares of Gentex by 138.8% in the fourth quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company’s stock valued at $33,000 after purchasing an additional 662 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in shares of Gentex by 208.2% in the first quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company’s stock valued at $38,000 after purchasing an additional 1,093 shares in the last quarter. NBC Securities Inc. raised its stake in shares of Gentex by 268,600.0% in the first quarter. NBC Securities Inc. now owns 2,687 shares of the auto parts company’s stock valued at $62,000 after purchasing an additional 2,686 shares in the last quarter. Finally, LRI Investments LLC raised its stake in shares of Gentex by 33.2% in the fourth quarter. LRI Investments LLC now owns 2,750 shares of the auto parts company’s stock valued at $79,000 after purchasing an additional 686 shares in the last quarter. 86.76% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $22.87, for a total value of $86,082.68. Following the completion of the sale, the director now directly owns 5,939 shares in the company, valued at approximately $135,824.93. This trade represents a 38.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.45% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GNTX shares. Guggenheim cut their target price on Gentex from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Robert W. Baird restated a “neutral” rating and issued a $25.00 target price (down from $31.00) on shares of Gentex in a research note on Tuesday, April 15th. Baird R W lowered Gentex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. The Goldman Sachs Group cut their target price on Gentex from $28.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Finally, UBS Group cut their target price on Gentex from $29.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $28.31.

Gentex Price Performance

Gentex stock opened at $21.41 on Friday. The stock has a fifty day moving average price of $21.82 and a two-hundred day moving average price of $25.21. Gentex Co. has a 52-week low of $20.28 and a 52-week high of $35.32. The firm has a market capitalization of $4.81 billion, a P/E ratio of 12.16, a P/E/G ratio of 0.84 and a beta of 0.81.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, April 25th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. Gentex had a return on equity of 16.74% and a net margin of 17.49%. The firm had revenue of $576.77 million during the quarter, compared to analyst estimates of $578.68 million. During the same period in the prior year, the company posted $0.47 earnings per share. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities research analysts predict that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, July 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.24%. Gentex’s dividend payout ratio (DPR) is presently 28.07%.

Gentex Company 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.