Gentex Co. (NASDAQ:GNTX) Director Sells $162,513.36 in Stock

Gentex Co. (NASDAQ:GNTX) Director Joseph B. Anderson, Jr. sold 4,716 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $34.46, for a total value of $162,513.36. Following the sale, the director now owns 3,764 shares of the company’s stock, valued at approximately $129,707.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Gentex Stock Performance

Shares of GNTX opened at $33.81 on Friday. The business’s 50-day moving average is $35.03 and its two-hundred day moving average is $33.65. The company has a market capitalization of $7.82 billion, a P/E ratio of 17.89, a P/E/G ratio of 0.96 and a beta of 0.98. Gentex Co. has a fifty-two week low of $25.86 and a fifty-two week high of $37.58.

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

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, April 5th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Thursday, April 4th. Gentex’s dividend payout ratio is currently 25.40%.

Institutional Trading of Gentex

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Gentex by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock valued at $727,688,000 after purchasing an additional 163,373 shares during the period. Wellington Management Group LLP boosted its stake in Gentex by 27.9% in the fourth quarter. Wellington Management Group LLP now owns 8,728,378 shares of the auto parts company’s stock valued at $285,069,000 after acquiring an additional 1,905,356 shares in the last quarter. TD Asset Management Inc boosted its stake in Gentex by 41.2% in the first quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock valued at $168,957,000 after acquiring an additional 1,363,898 shares in the last quarter. Burgundy Asset Management Ltd. boosted its stake in Gentex by 1.2% in the first quarter. Burgundy Asset Management Ltd. now owns 4,217,464 shares of the auto parts company’s stock valued at $152,335,000 after acquiring an additional 48,435 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in shares of Gentex by 32.6% in the first quarter. Epoch Investment Partners Inc. now owns 2,963,250 shares of the auto parts company’s stock valued at $107,033,000 after buying an additional 727,913 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analysts Set New Price Targets

GNTX has been the topic of a number of recent analyst reports. Guggenheim upped their price target on Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. StockNews.com downgraded Gentex from a “buy” rating to a “hold” rating in a research report on Thursday. The Goldman Sachs Group upped their target price on Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. upped their target price on Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Finally, B. Riley upped their target price on Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Gentex currently has an average rating of “Hold” and an average price target of $37.83.

About Gentex

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.