Advisory Alpha LLC Reduces Stock Position in Gentex Co. (NASDAQ:GNTX)

Advisory Alpha LLC reduced its position in shares of Gentex Co. (NASDAQ:GNTX) by 5.3% in the second quarter, HoldingsChannel.com reports. The firm owned 53,927 shares of the auto parts company’s stock after selling 3,040 shares during the period. Advisory Alpha LLC’s holdings in Gentex were worth $1,818,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Neo Ivy Capital Management purchased a new stake in shares of Gentex during the fourth quarter worth about $29,000. Quest Partners LLC purchased a new stake in shares of Gentex during the second quarter worth about $31,000. Gladius Capital Management LP purchased a new stake in Gentex in the second quarter worth about $34,000. EverSource Wealth Advisors LLC boosted its position in Gentex by 173.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock valued at $42,000 after acquiring an additional 850 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Gentex by 26.3% during the 1st 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. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

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 Performance

NASDAQ:GNTX opened at $29.69 on Tuesday. The stock has a 50-day simple moving average of $30.20 and a two-hundred day simple moving average of $33.06. Gentex Co. has a 52-week low of $27.86 and a 52-week high of $37.58. The firm has a market capitalization of $6.86 billion, a PE ratio of 15.71, a P/E/G ratio of 0.99 and a beta of 0.92.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, July 26th. The auto parts company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). The business had revenue of $572.93 million during the quarter, compared to the consensus estimate of $623.28 million. Gentex had a return on equity of 17.78% and a net margin of 17.87%. Equities analysts forecast that Gentex Co. 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, October 23rd. Investors of record on Wednesday, October 9th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.62%. Gentex’s dividend payout ratio is currently 25.40%.

Analyst Upgrades and Downgrades

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