Gentex Corporation $GNTX Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its stake in Gentex Corporation (NASDAQ:GNTX) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,683,226 shares of the auto parts company’s stock after selling 33,124 shares during the period. Geode Capital Management LLC’s holdings in Gentex were worth $132,269,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GNTX. Royal Bank of Canada raised its holdings in Gentex by 33.1% in the first quarter. Royal Bank of Canada now owns 189,561 shares of the auto parts company’s stock valued at $4,418,000 after acquiring an additional 47,150 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Gentex by 1.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,321,634 shares of the auto parts company’s stock valued at $30,794,000 after acquiring an additional 23,454 shares in the last quarter. Empowered Funds LLC raised its holdings in Gentex by 255.6% in the first quarter. Empowered Funds LLC now owns 81,142 shares of the auto parts company’s stock valued at $1,891,000 after acquiring an additional 58,323 shares in the last quarter. Invesco Ltd. raised its holdings in Gentex by 8.0% in the second quarter. Invesco Ltd. now owns 813,163 shares of the auto parts company’s stock valued at $17,881,000 after acquiring an additional 60,127 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Gentex by 2,038.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,512 shares of the auto parts company’s stock valued at $99,000 after acquiring an additional 4,301 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GNTX has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on Gentex from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Gentex in a research report on Tuesday. Robert W. Baird boosted their target price 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. B. Riley Financial reissued a “buy” rating and set a $29.00 target price (up from $28.00) on shares of Gentex in a report on Monday, April 27th. Finally, UBS Group set a $26.00 target price on shares of Gentex in a report on Sunday, April 26th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Gentex presently has a consensus rating of “Hold” and an average price target of $26.83.

Gentex Stock Performance

Gentex stock opened at $25.05 on Friday. The company has a 50-day simple moving average of $22.89 and a 200-day simple moving average of $23.13. The firm has a market capitalization of $5.33 billion, a P/E ratio of 14.07 and a beta of 0.79. Gentex Corporation has a one year low of $20.48 and a one year high of $29.38.

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

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, July 8th. Gentex’s dividend payout ratio is currently 26.97%.

Insider Activity at Gentex

In related news, Director Brian C. Walker sold 5,939 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $22.98, for a total value of $136,478.22. Following the completion of the transaction, the director owned 24,205 shares in the company, valued at $556,230.90. This represents a 19.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard O. Schaum sold 4,815 shares of the stock in a transaction dated 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 $1,898,436.33. This represents a 5.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 16,693 shares of company stock worth $385,194 in the last 90 days. Corporate insiders own 0.55% of the company’s stock.

Gentex 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).