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

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

Gentex Stock Performance

Shares of NASDAQ:GNTX opened at $22.87 on Monday. The stock has a 50 day moving average of $22.19 and a 200 day moving average of $23.08. The company has a market cap of $4.87 billion, a PE ratio of 12.85 and a beta of 0.78. Gentex Corporation has a 12-month low of $20.48 and a 12-month high of $29.38.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The company had revenue of $675.44 million during the quarter, compared to the consensus estimate of $649.42 million. During the same period in the previous year, the company posted $0.42 EPS. The firm’s revenue was up 17.1% on a year-over-year basis. Equities research analysts predict that Gentex Corporation will post 1.96 earnings per share for the current fiscal year.

Gentex Dividend Announcement

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

Institutional Trading of Gentex

Several hedge funds have recently modified their holdings of GNTX. Bank of Montreal Can raised its holdings in shares of 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 worth $179,785,000 after acquiring an additional 7,672,769 shares in the last quarter. Caisse de depot et placement du Quebec raised its holdings in Gentex by 297.0% during the 4th quarter. Caisse de depot et placement du Quebec now owns 3,144,881 shares of the auto parts company’s stock valued at $73,181,000 after buying an additional 2,352,668 shares during the period. Norges Bank purchased a new stake in Gentex during the 4th quarter valued at $52,767,000. Wellington Management Group LLP raised its holdings 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 buying an additional 1,383,203 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Gentex by 25.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,629,380 shares of the auto parts company’s stock valued at $154,271,000 after buying an additional 1,349,445 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on GNTX shares. UBS Group set a $26.00 price target on Gentex in a report on Sunday, April 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gentex in a report on Thursday, January 22nd. B. Riley Financial reaffirmed a “buy” rating and set a $29.00 price objective (up from $28.00) on shares of Gentex in a report on Monday, April 27th. Robert W. Baird upped their price objective on Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Finally, Freedom Capital raised Gentex to a “strong-buy” rating in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $26.83.

Gentex Company Profile

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).