GAMMA Investing LLC Sells 570 Shares of Gentex Co. (NASDAQ:GNTX)

GAMMA Investing LLC reduced its stake in Gentex Co. (NASDAQ:GNTX) by 22.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,981 shares of the auto parts company’s stock after selling 570 shares during the period. GAMMA Investing LLC’s holdings in Gentex were worth $59,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GNTX. Vanguard Group Inc. increased its stake in Gentex by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock valued at $727,688,000 after purchasing an additional 163,373 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Gentex by 129.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 111,827 shares of the auto parts company’s stock worth $3,652,000 after purchasing an additional 63,152 shares during the period. Ballentine Partners LLC purchased a new position in shares of Gentex in the first quarter worth about $212,000. Financial Enhancement Group LLC raised its position in shares of Gentex by 0.5% in the first quarter. Financial Enhancement Group LLC now owns 126,831 shares of the auto parts company’s stock valued at $4,344,000 after purchasing an additional 629 shares during the period. Finally, S.A. Mason LLC raised its position in shares of Gentex by 29.5% in the first quarter. S.A. Mason LLC now owns 21,536 shares of the auto parts company’s stock valued at $778,000 after purchasing an additional 4,904 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GNTX. B. Riley lowered their price target on shares of Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, July 29th. Robert W. Baird cut their price target on shares of 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 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. StockNews.com downgraded Gentex from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Finally, UBS Group initiated coverage on Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Gentex currently has a consensus rating of “Hold” and a consensus price target of $36.13.

Insider Buying and Selling

In related news, major shareholder Corp Gentex acquired 3,152,500 shares of Gentex stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the transaction, the insider now directly owns 6,463,808 shares in the company, valued at approximately $32,319,040. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by insiders.

Gentex Trading Down 0.2 %

GNTX opened at $29.24 on Thursday. The company has a market cap of $6.76 billion, a P/E ratio of 15.47, a P/E/G ratio of 0.95 and a beta of 0.92. Gentex Co. has a 12 month low of $27.86 and a 12 month high of $37.58. The business’s 50-day moving average price is $29.81 and its 200-day moving average price is $32.50.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, July 26th. The auto parts company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). The business had revenue of $572.93 million for 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%. Equities research analysts forecast that Gentex Co. will post 1.96 earnings per share for the current fiscal year.

Gentex Dividend Announcement

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