Insider Selling: Gentex (NASDAQ:GNTX) Director Sells 5,939 Shares of Stock

Gentex Corporation (NASDAQ:GNTX) Director Joseph Anderson, Jr. sold 5,939 shares of the business’s 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Gentex Stock Down 2.3%

GNTX stock traded down $0.54 during midday trading on Friday, reaching $22.87. 1,802,471 shares of the company’s stock traded hands, compared to its average volume of 2,255,940. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 12.85 and a beta of 0.78. The firm’s fifty day moving average price is $22.19 and its 200-day moving average price is $23.08. Gentex Corporation has a 52 week low of $20.48 and a 52 week high of $29.38.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The business had revenue of $675.44 million during the quarter, compared to analyst estimates of $649.42 million. During the same quarter in the previous year, the business posted $0.42 EPS. Gentex’s quarterly revenue was up 17.1% on a year-over-year basis. Analysts forecast that Gentex Corporation will post 1.92 earnings per share for the current year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th were paid a $0.12 dividend. The ex-dividend date was Wednesday, April 8th. This represents a $0.48 annualized dividend and a dividend yield of 2.1%. Gentex’s dividend payout ratio is presently 26.97%.

Analysts Set New Price Targets

Several research firms have recently issued reports on GNTX. Wall Street Zen upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research note on Sunday, March 8th. B. Riley Financial reiterated a “buy” rating and issued a $29.00 target price (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. UBS Group set a $26.00 target price on shares of Gentex in a research note on Sunday, April 26th. JPMorgan Chase & Co. upped their target price on shares of Gentex from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a research note on Thursday, January 22nd. One equities research 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 company. According to MarketBeat.com, Gentex currently has an average rating of “Hold” and a consensus price target of $26.83.

Hedge Funds Weigh In On Gentex

A number of hedge funds and other institutional investors have recently made changes to their positions in GNTX. Royal Bank of Canada boosted its holdings in shares of Gentex by 33.1% in the 1st quarter. Royal Bank of Canada now owns 189,561 shares of the auto parts company’s stock worth $4,418,000 after buying an additional 47,150 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Gentex by 1.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,321,634 shares of the auto parts company’s stock worth $30,794,000 after buying an additional 23,454 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Gentex by 255.6% in the 1st quarter. Empowered Funds LLC now owns 81,142 shares of the auto parts company’s stock worth $1,891,000 after buying an additional 58,323 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Gentex by 8.0% in the 2nd quarter. Invesco Ltd. now owns 813,163 shares of the auto parts company’s stock worth $17,881,000 after buying an additional 60,127 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Gentex by 2,038.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,512 shares of the auto parts company’s stock worth $99,000 after buying an additional 4,301 shares during the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

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).