Gentex Co. (NASDAQ:GNTX) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its stake in shares of Gentex Co. (NASDAQ:GNTX) by 1.6% during the second quarter, Holdings Channel.com reports. The firm owned 309,114 shares of the auto parts company’s stock after selling 5,000 shares during the period. King Luther Capital Management Corp’s holdings in Gentex were worth $10,420,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Intech Investment Management LLC acquired a new stake in shares of Gentex in the second quarter valued at $1,037,000. Burgundy Asset Management Ltd. lifted its holdings in Gentex by 3.0% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,343,880 shares of the auto parts company’s stock valued at $146,432,000 after acquiring an additional 126,416 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Gentex by 17.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 32,018 shares of the auto parts company’s stock valued at $1,079,000 after purchasing an additional 4,684 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Gentex by 47.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 22,593 shares of the auto parts company’s stock worth $762,000 after purchasing an additional 7,255 shares in the last quarter. Finally, Argent Trust Co acquired a new stake in Gentex during the second quarter valued at approximately $334,000. Institutional investors own 86.76% of the company’s stock.

Insider Activity

In other Gentex news, major shareholder Corp Gentex purchased 3,152,500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the completion of the transaction, the insider now directly owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.41% of the stock is owned by company insiders.

Analyst Ratings Changes

GNTX has been the subject of several research reports. UBS Group began coverage on Gentex in a research note on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price objective for the company. BNP Paribas downgraded shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target for the company. in a research report on Tuesday, July 30th. Robert W. Baird lowered their price objective on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. StockNews.com downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Finally, JPMorgan Chase & Co. decreased their target price on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $36.86.

Gentex Stock Performance

NASDAQ GNTX opened at $29.75 on Friday. The stock has a market capitalization of $6.88 billion, a PE ratio of 15.74, a P/E/G ratio of 0.96 and a beta of 0.92. The stock has a 50-day simple moving average of $30.66 and a 200 day simple moving average of $33.35. Gentex Co. has a twelve month low of $27.86 and a twelve month high of $37.58.

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

Gentex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Wednesday, October 9th. Gentex’s payout ratio is 25.40%.

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.