Inspire Investing LLC Sells 11,592 Shares of Gentex Co. (NASDAQ:GNTX)

Inspire Investing LLC lowered its position in Gentex Co. (NASDAQ:GNTX) by 14.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 66,820 shares of the auto parts company’s stock after selling 11,592 shares during the quarter. Inspire Investing LLC’s holdings in Gentex were worth $2,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Neo Ivy Capital Management bought a new stake in shares of Gentex in the fourth quarter worth $29,000. Quest Partners LLC bought a new stake in shares of Gentex in the second quarter worth $31,000. Gladius Capital Management LP bought a new stake in shares of Gentex in the second quarter worth $34,000. GAMMA Investing LLC grew its holdings in shares of Gentex by 26.3% in the first quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock worth $63,000 after acquiring an additional 363 shares during the period. Finally, HHM Wealth Advisors LLC bought a new stake in shares of Gentex in the second quarter worth $67,000. Institutional investors own 86.76% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Corp Gentex bought 3,152,500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the transaction, the insider now owns 6,463,808 shares of the company’s stock, valued at $32,319,040. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.41% of the stock is owned by company insiders.

Gentex Stock Down 0.7 %

Shares of Gentex stock opened at $29.29 on Thursday. The stock’s 50-day simple moving average is $30.83 and its 200-day simple moving average is $33.43. Gentex Co. has a 52 week low of $27.86 and a 52 week high of $37.58. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 0.96 and a beta of 0.92.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.15). The business had revenue of $572.93 million during the quarter, compared to analysts’ expectations of $623.28 million. Gentex had a net margin of 17.87% and a return on equity of 17.78%. On average, equities analysts expect that Gentex Co. will post 1.96 earnings per share for the current year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be given a $0.12 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.64%. Gentex’s dividend payout ratio is currently 25.40%.

Wall Street Analyst Weigh In

Several analysts have issued reports on GNTX shares. Robert W. Baird cut their price target on Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Monday, July 29th. BNP Paribas lowered Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target for the company. in a report on Tuesday, July 30th. UBS Group started coverage on Gentex in a report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price target for the company. B. Riley cut their price target on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. cut their price target on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Gentex presently has an average rating of “Hold” and a consensus price target of $36.86.

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.