Gentex (NASDAQ:GNTX) CTO Sells 11,248 Shares

Gentex Corporation (NASDAQ:GNTX) CTO Neil Boehm sold 11,248 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $24.82, for a total transaction of $279,175.36. Following the sale, the chief technology officer directly owned 58,951 shares in the company, valued at $1,463,163.82. This trade represents a 16.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Gentex Price Performance

GNTX stock traded down $0.57 during trading hours on Thursday, reaching $23.97. The stock had a trading volume of 1,888,424 shares, compared to its average volume of 2,609,861. The stock has a 50-day simple moving average of $23.91 and a 200 day simple moving average of $25.20. Gentex Corporation has a fifty-two week low of $20.28 and a fifty-two week high of $29.38. The stock has a market capitalization of $5.25 billion, a PE ratio of 13.78 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, January 30th. The auto parts company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. Gentex had a net margin of 15.19% and a return on equity of 16.05%. The company had revenue of $644.40 million for the quarter, compared to analyst estimates of $650.90 million. During the same period in the previous year, the business earned $0.39 EPS. Gentex’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, sell-side analysts forecast that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Wednesday, January 7th were paid a $0.12 dividend. The ex-dividend date was Wednesday, January 7th. This represents a $0.48 annualized dividend and a yield of 2.0%. Gentex’s dividend payout ratio is currently 27.59%.

Hedge Funds Weigh In On Gentex

Several hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in Gentex by 10.3% during the third quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company’s stock valued at $419,636,000 after acquiring an additional 1,383,203 shares in the last quarter. Burgundy Asset Management Ltd. lifted its stake in Gentex by 3.1% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 7,964,555 shares of the auto parts company’s stock worth $175,141,000 after purchasing an additional 236,346 shares in the last quarter. Bank of Montreal Can boosted 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 valued at $179,785,000 after purchasing an additional 7,672,769 shares during the last quarter. State Street Corp boosted its holdings in shares of 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 during the last quarter. Finally, Ariel Investments LLC increased its holdings in shares of Gentex by 3.9% in the second quarter. Ariel Investments LLC now owns 7,359,272 shares of the auto parts company’s stock worth $161,830,000 after purchasing an additional 277,217 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on GNTX. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a report on Thursday, January 22nd. UBS Group set a $25.00 price objective on shares of Gentex in a report on Monday, February 2nd. B. Riley Financial dropped their price objective on shares of Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. The Goldman Sachs Group set a $27.00 target price on shares of Gentex and gave the stock a “neutral” rating in a report on Monday, October 27th. Finally, Robert W. Baird set a $26.00 price target on shares of Gentex in a research note on Wednesday, January 14th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.71.

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).