XXEC Inc. Sells 36,426 Shares of Gentex Corporation $GNTX

XXEC Inc. decreased its position in Gentex Corporation (NASDAQ:GNTX) by 12.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 263,942 shares of the auto parts company’s stock after selling 36,426 shares during the period. Gentex makes up 6.0% of XXEC Inc.’s portfolio, making the stock its 7th largest position. XXEC Inc. owned approximately 0.12% of Gentex worth $6,142,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Royal Bank of Canada increased its holdings in shares of Gentex by 33.1% in the first quarter. Royal Bank of Canada now owns 189,561 shares of the auto parts company’s stock worth $4,418,000 after acquiring an additional 47,150 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Gentex by 1.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,321,634 shares of the auto parts company’s stock worth $30,794,000 after purchasing an additional 23,454 shares in the last quarter. Empowered Funds LLC boosted its holdings in Gentex by 255.6% during the first quarter. Empowered Funds LLC now owns 81,142 shares of the auto parts company’s stock worth $1,891,000 after purchasing an additional 58,323 shares during the last quarter. Invesco Ltd. boosted its holdings in Gentex by 8.0% during the second quarter. Invesco Ltd. now owns 813,163 shares of the auto parts company’s stock worth $17,881,000 after purchasing an additional 60,127 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Gentex by 2,038.4% in the second 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 in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Insider Activity at Gentex

In other Gentex news, Director Richard O. Schaum sold 4,815 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $23.31, for a total value of $112,237.65. Following the sale, the director owned 81,443 shares in the company, valued at $1,898,436.33. This represents a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph B. Anderson, Jr. sold 5,939 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $22.98, for a total value of $136,478.22. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 16,693 shares of company stock worth $385,194. Insiders own 0.55% of the company’s stock.

Gentex Stock Performance

NASDAQ:GNTX opened at $25.95 on Friday. The stock has a market capitalization of $5.53 billion, a PE ratio of 14.58 and a beta of 0.79. Gentex Corporation has a 1-year low of $20.48 and a 1-year high of $29.38. The firm has a fifty day simple moving average of $23.70 and a 200 day simple moving average of $23.35.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.04. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The firm had revenue of $675.44 million for the quarter, compared to analyst estimates of $649.42 million. During the same period in the prior year, the firm posted $0.42 earnings per share. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. On average, equities analysts predict that Gentex Corporation will post 1.96 earnings per share for the current fiscal year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.8%. The ex-dividend date is Wednesday, July 8th. Gentex’s dividend payout ratio (DPR) is 26.97%.

Analyst Ratings Changes

Several brokerages have issued reports on GNTX. B. Riley Financial reiterated a “buy” rating and issued a $29.00 price target (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. Weiss Ratings restated a “hold (c-)” rating on shares of Gentex in a research note on Tuesday, June 2nd. Wall Street Zen cut Gentex from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. UBS Group set a $26.00 target price on Gentex in a research report on Sunday, April 26th. Finally, Robert W. Baird upped their target price on Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Gentex currently has an average rating of “Hold” and a consensus target price of $26.83.

Gentex 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).