Sheets Smith Wealth Management Sells 968 Shares of Gentex Co. (NASDAQ:GNTX)

Sheets Smith Wealth Management lessened its holdings in Gentex Co. (NASDAQ:GNTX) by 8.2% in the fourth quarter, Holdings Channel reports. The firm owned 10,852 shares of the auto parts company’s stock after selling 968 shares during the period. Sheets Smith Wealth Management’s holdings in Gentex were worth $354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in GNTX. National Bank of Canada FI increased its stake in shares of Gentex by 159.1% during the 4th quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock worth $30,000 after purchasing an additional 571 shares during the last quarter. M&T Bank Corp grew its stake in shares of Gentex by 4.3% during the 4th quarter. M&T Bank Corp now owns 25,321 shares of the auto parts company’s stock worth $828,000 after acquiring an additional 1,035 shares during the period. Amalgamated Bank grew its stake in shares of Gentex by 1.4% during the 4th quarter. Amalgamated Bank now owns 154,931 shares of the auto parts company’s stock worth $5,060,000 after acquiring an additional 2,122 shares during the period. Buckhead Capital Management LLC increased its holdings in Gentex by 14.7% in the 4th quarter. Buckhead Capital Management LLC now owns 132,415 shares of the auto parts company’s stock worth $4,325,000 after acquiring an additional 16,978 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Gentex by 18.0% in the 4th quarter. Victory Capital Management Inc. now owns 50,193 shares of the auto parts company’s stock valued at $1,639,000 after acquiring an additional 7,649 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Guggenheim raised their price objective on shares of Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. StockNews.com raised Gentex from a “hold” rating to a “buy” rating in a report on Tuesday. The Goldman Sachs Group boosted their price objective on Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. lifted their target price on Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Finally, B. Riley boosted their price objective on shares of Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.83.

Insider Activity at Gentex

In other Gentex news, CFO Kevin C. Nash sold 13,500 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total value of $446,040.00. Following the transaction, the chief financial officer now owns 44,321 shares in the company, valued at $1,464,365.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is currently owned by company insiders.

Gentex Trading Up 1.2 %

Shares of NASDAQ GNTX opened at $34.55 on Tuesday. The business has a 50-day moving average of $35.52 and a 200-day moving average of $33.24. The firm has a market capitalization of $7.99 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 0.75 and a beta of 0.98. Gentex Co. has a 12 month low of $25.86 and a 12 month high of $37.58.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Gentex had a return on equity of 19.19% and a net margin of 18.77%. The company had revenue of $590.23 million during the quarter, compared to the consensus estimate of $600.38 million. During the same period in the previous year, the company earned $0.42 EPS. Gentex’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts predict that Gentex Co. will post 2.11 earnings per share for the current year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, April 5th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Thursday, April 4th. Gentex’s payout ratio is 25.40%.

Gentex Company Profile

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.