Wellington Management Group LLP Sells 1,394,564 Shares of Gentex Corporation $GNTX

Wellington Management Group LLP decreased its holdings in shares of Gentex Corporation (NASDAQ:GNTX) by 62.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 846,429 shares of the auto parts company’s stock after selling 1,394,564 shares during the period. Wellington Management Group LLP’s holdings in Gentex were worth $21,389,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of GNTX. Clearstead Advisors LLC lifted its holdings in shares of Gentex by 21.4% during the 4th quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 437 shares during the last quarter. Gagnon Securities LLC boosted its position in Gentex by 0.8% during the 4th quarter. Gagnon Securities LLC now owns 55,672 shares of the auto parts company’s stock valued at $1,295,000 after buying an additional 458 shares during the period. Crumly & Associates Inc. boosted its holdings in shares of Gentex by 3.7% during the second quarter. Crumly & Associates Inc. now owns 13,291 shares of the auto parts company’s stock worth $336,000 after purchasing an additional 478 shares during the period. First Citizens Bank & Trust Co. lifted its holdings in Gentex by 1.6% in the 1st quarter. First Citizens Bank & Trust Co. now owns 30,294 shares of the auto parts company’s stock worth $662,000 after buying an additional 487 shares during the period. Finally, Sei Investments Co. boosted its holdings in Gentex by 0.3% in the first quarter. Sei Investments Co. now owns 196,776 shares of the auto parts company’s stock valued at $4,300,000 after acquiring an additional 521 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors.

Gentex Price Performance

GNTX opened at $23.14 on Monday. The firm has a market cap of $4.93 billion, a P/E ratio of 12.24 and a beta of 0.80. The company has a 50 day simple moving average of $23.76 and a two-hundred day simple moving average of $23.40. Gentex Corporation has a 1-year low of $20.48 and a 1-year high of $29.38.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, July 24th. The auto parts company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The business had revenue of $651.30 million for the quarter, compared to analysts’ expectations of $669.65 million. During the same period last year, the firm earned $0.43 earnings per share. The business’s quarterly revenue was down 1.0% on a year-over-year basis. Equities analysts anticipate that Gentex Corporation will post 2.07 earnings per share for the current year.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Wednesday, October 7th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, October 7th. Gentex’s dividend payout ratio (DPR) is presently 25.40%.

Analyst Upgrades and Downgrades

GNTX has been the topic of several research reports. Freedom Capital cut Gentex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. cut their target price on Gentex from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, August 10th. Wall Street Zen downgraded shares of Gentex from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, UBS Group restated a “neutral” rating and issued a $25.00 price target (down from $26.00) on shares of Gentex in a research note on Thursday, July 9th. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Gentex currently has an average rating of “Hold” and a consensus price target of $26.80.

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).