Kevin Nash Sells 11,885 Shares of Gentex (NASDAQ:GNTX) Stock

Gentex Corporation (NASDAQ:GNTX) CFO Kevin 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 value of $296,887.30. Following the sale, the chief financial officer owned 59,430 shares in the company, valued at $1,484,561.40. The trade was a 16.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Gentex Price Performance

Shares of Gentex stock opened at $23.97 on Friday. The firm has a market capitalization of $5.25 billion, a P/E ratio of 13.78 and a beta of 0.78. The company has a 50 day moving average price of $23.92 and a 200 day moving average price of $25.18. Gentex Corporation has a 52 week low of $20.28 and a 52 week high of $29.38.

Gentex (NASDAQ:GNTX) last released its earnings results 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 the consensus estimate of $650.90 million. During the same quarter in the previous year, the firm earned $0.39 EPS. Gentex’s revenue was up 19.0% compared to the same quarter last year. As a group, research analysts anticipate that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

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

Hedge Funds Weigh In On Gentex

Several large investors have recently made changes to their positions in the company. Nordea Investment Management AB purchased a new stake in shares of Gentex during the third quarter worth about $6,422,000. Deprince Race & Zollo Inc. acquired a new stake in Gentex in the 3rd quarter worth about $26,283,000. Global Alpha Capital Management Ltd. purchased a new stake in Gentex during the 2nd quarter worth approximately $19,318,000. Cidel Asset Management Inc. increased its stake in Gentex by 13.7% during the 3rd quarter. Cidel Asset Management Inc. now owns 450,780 shares of the auto parts company’s stock worth $12,757,000 after buying an additional 54,328 shares in the last quarter. Finally, Jump Financial LLC raised its holdings in shares of Gentex by 37.3% during the second quarter. Jump Financial LLC now owns 224,065 shares of the auto parts company’s stock valued at $4,927,000 after acquiring an additional 60,827 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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).