Intech Investment Management LLC Sells 145,117 Shares of Gentex Corporation $GNTX

Intech Investment Management LLC cut its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 64.1% during the third quarter, HoldingsChannel.com reports. The fund owned 81,338 shares of the auto parts company’s stock after selling 145,117 shares during the quarter. Intech Investment Management LLC’s holdings in Gentex were worth $2,302,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Addison Advisors LLC bought a new position in Gentex in the second quarter worth approximately $25,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Gentex in the 3rd quarter worth $38,000. Clearstead Advisors LLC grew its position in shares of Gentex by 82.3% during the 3rd quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock worth $58,000 after buying an additional 922 shares in the last quarter. Grey Fox Wealth Advisors LLC purchased a new position in shares of Gentex during the third quarter valued at $65,000. Finally, Steph & Co. raised its holdings in shares of Gentex by 30.5% in the third quarter. Steph & Co. now owns 2,684 shares of the auto parts company’s stock valued at $76,000 after acquiring an additional 627 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GNTX. Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a report on Thursday, January 22nd. 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 note on Monday, February 2nd. Robert W. Baird set a $26.00 price objective on shares of Gentex in a research note on Wednesday, January 14th. UBS Group set a $25.00 target price on Gentex in a research report on Monday, February 2nd. Finally, Wall Street Zen downgraded Gentex from a “buy” rating to a “hold” rating in a report on Saturday. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gentex currently has a consensus rating of “Hold” and an average price target of $26.71.

Gentex Stock Down 1.3%

NASDAQ:GNTX opened at $23.00 on Wednesday. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 13.22 and a beta of 0.76. Gentex Corporation has a 52 week low of $20.28 and a 52 week high of $29.38. The firm has a 50 day moving average of $23.90 and a 200 day moving average of $24.98.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, January 30th. The auto parts company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. Gentex had a net margin of 15.19% and a return on equity of 16.05%. The business 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 company earned $0.39 earnings per share. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. As a group, analysts expect that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 8th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, April 8th. This represents a $0.48 dividend on an annualized basis and a yield of 2.1%. Gentex’s dividend payout ratio (DPR) is 27.59%.

Insiders Place Their Bets

In other news, CFO Kevin C. Nash sold 11,885 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $24.98, for a total transaction of $296,887.30. Following the sale, the chief financial officer owned 59,430 shares in the company, valued at approximately $1,484,561.40. The trade was a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Neil Boehm sold 11,248 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $24.82, for a total transaction of $279,175.36. Following the completion of the transaction, the chief technology officer directly owned 58,951 shares of the company’s stock, valued at $1,463,163.82. The trade was a 16.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 58,133 shares of company stock valued at $1,442,313. 0.45% of the stock is currently owned by corporate insiders.

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).