Thrivent Financial for Lutherans Sells 44,779 Shares of Gentex Corporation $GNTX

Thrivent Financial for Lutherans cut its position in Gentex Corporation (NASDAQ:GNTX) by 30.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 102,523 shares of the auto parts company’s stock after selling 44,779 shares during the period. Thrivent Financial for Lutherans’ holdings in Gentex were worth $2,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in GNTX. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Gentex during the 3rd quarter valued at $38,000. Clearstead Advisors LLC raised its stake 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 valued at $58,000 after purchasing an additional 922 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of Gentex by 2,420.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock valued at $58,000 after purchasing an additional 1,985 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Gentex during the 4th quarter valued at $73,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Gentex by 2,038.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,512 shares of the auto parts company’s stock valued at $99,000 after purchasing an additional 4,301 shares during the period. 86.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $22.98, for a total transaction of $136,478.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard O. Schaum sold 4,815 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $23.31, for a total value of $112,237.65. Following the transaction, the director owned 81,443 shares of the company’s stock, valued at approximately $1,898,436.33. The trade was a 5.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 16,693 shares of company stock worth $385,194 over the last ninety days. 0.55% of the stock is owned by corporate insiders.

Gentex Price Performance

Gentex stock opened at $23.85 on Tuesday. Gentex Corporation has a 52 week low of $20.48 and a 52 week high of $29.38. The business has a 50-day simple moving average of $22.37 and a 200 day simple moving average of $23.07. The stock has a market cap of $5.08 billion, a price-to-earnings ratio of 13.40 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last posted its 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. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The business had revenue of $675.44 million during the quarter, compared to analysts’ expectations of $649.42 million. During the same period in the previous year, the business earned $0.42 earnings per share. The firm’s revenue was up 17.1% on a year-over-year basis. On average, research analysts anticipate that Gentex Corporation will post 1.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Freedom Capital upgraded Gentex to a “strong-buy” rating in a research note on Friday, March 27th. 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. Robert W. Baird boosted their price objective on Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. boosted their price objective on Gentex from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, UBS Group set a $26.00 price objective on Gentex in a research note on Sunday, April 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $26.83.

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).