SG Americas Securities LLC Cuts Stock Holdings in Gentex Corporation $GNTX

SG Americas Securities LLC reduced its position in Gentex Corporation (NASDAQ:GNTX) by 25.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,906 shares of the auto parts company’s stock after selling 32,941 shares during the period. SG Americas Securities LLC’s holdings in Gentex were worth $2,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP purchased a new position in shares of Gentex in the 3rd quarter valued at about $3,613,000. WINTON GROUP Ltd acquired a new stake in Gentex in the third quarter valued at approximately $7,258,000. Clark Capital Management Group Inc. acquired a new stake in Gentex in the third quarter valued at approximately $8,179,000. Elo Mutual Pension Insurance Co purchased a new stake in shares of Gentex in the third quarter valued at approximately $726,000. Finally, Thompson Siegel & Walmsley LLC increased its position in shares of Gentex by 57.1% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 377,484 shares of the auto parts company’s stock valued at $8,784,000 after buying an additional 137,245 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Insider Buying and Selling at Gentex

In related news, Director Richard O. Schaum sold 4,815 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $23.31, for a total transaction of $112,237.65. Following the completion of the transaction, the director owned 81,443 shares of the company’s stock, valued at approximately $1,898,436.33. This trade represents a 5.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph B. Anderson, Jr. sold 5,939 shares of Gentex stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. The SEC filing for this sale provides additional information. Insiders sold a total of 16,693 shares of company stock worth $385,194 over the last three months. Insiders own 0.55% of the company’s stock.

Gentex Stock Down 2.4%

GNTX stock opened at $24.67 on Thursday. Gentex Corporation has a 52-week low of $20.48 and a 52-week high of $29.38. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of 13.86 and a beta of 0.78. The business has a fifty day moving average of $24.20 and a two-hundred day moving average of $23.47.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.44 by $0.04. The business had revenue of $675.44 million for the quarter, compared to analyst estimates of $649.42 million. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The company’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 EPS. As a group, sell-side analysts anticipate that Gentex Corporation will post 1.96 EPS for the current year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, July 8th. Gentex’s dividend payout ratio (DPR) is 26.97%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Robert W. Baird lifted their price target 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. JPMorgan Chase & Co. upped their price objective on shares of Gentex from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Wall Street Zen lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Freedom Capital upgraded Gentex to a “strong-buy” rating in a research report on Friday, March 27th. Finally, B. Riley Financial reiterated a “buy” rating and issued a $29.00 price objective (up from $28.00) on shares of Gentex in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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).