American Capital Management Inc. Trims Stock Holdings in Gentex Corporation $GNTX

American Capital Management Inc. decreased its holdings in Gentex Corporation (NASDAQ:GNTX) by 7.9% during the first quarter, HoldingsChannel.com reports. The firm owned 534,356 shares of the auto parts company’s stock after selling 45,536 shares during the quarter. American Capital Management Inc.’s holdings in Gentex were worth $11,676,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its holdings in 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 purchasing an additional 7,672,769 shares during the period. Caisse de depot et placement du Quebec lifted its holdings in shares of Gentex by 297.0% in the 4th quarter. Caisse de depot et placement du Quebec now owns 3,144,881 shares of the auto parts company’s stock worth $73,181,000 after buying an additional 2,352,668 shares during the period. Norges Bank bought a new position in shares of Gentex during the 4th quarter worth $52,767,000. Wellington Management Group LLP grew its position in shares of 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 worth $419,636,000 after buying an additional 1,383,203 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Gentex by 25.6% during the fourth 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. Institutional investors own 86.76% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. 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 note on Thursday, May 14th. UBS Group restated a “neutral” rating and issued a $25.00 price target (down from $26.00) on shares of Gentex in a report on Thursday, July 9th. Wall Street Zen cut shares of Gentex from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. B. Riley Financial reiterated a “buy” rating and set a $29.00 price objective (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. Finally, Robert W. Baird lifted their price objective on shares of Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $27.00.

Gentex Price Performance

Shares of GNTX opened at $22.92 on Tuesday. The company’s fifty day moving average price is $24.50 and its 200-day moving average price is $23.51. Gentex Corporation has a 1-year low of $20.48 and a 1-year high of $29.38. The firm has a market capitalization of $4.88 billion, a PE ratio of 12.13 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.08. The company had revenue of $651.30 million for the quarter, compared to the consensus estimate of $669.65 million. Gentex had a net margin of 15.50% and a return on equity of 16.78%. Gentex’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. As a group, research analysts anticipate that Gentex Corporation will post 1.97 EPS for the current fiscal year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, July 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. Gentex’s dividend payout ratio (DPR) is 25.40%.

Insider Activity at Gentex

In other Gentex news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian C. Walker sold 5,939 shares of Gentex stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. Following the completion of the sale, the director owned 24,205 shares in the company, valued at approximately $556,230.90. The trade was a 19.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,693 shares of company stock worth $385,194 in the last 90 days. Corporate insiders own 0.55% of the company’s stock.

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).