Gentex Co. (NASDAQ:GNTX) Shares Sold by Trust Point Inc.

Trust Point Inc. lowered its stake in Gentex Co. (NASDAQ:GNTX) by 10.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,133 shares of the auto parts company’s stock after selling 1,848 shares during the quarter. Trust Point Inc.’s holdings in Gentex were worth $479,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Quest Partners LLC acquired a new stake in Gentex in the 2nd quarter valued at approximately $31,000. Gladius Capital Management LP acquired a new position in Gentex in the 2nd quarter valued at about $34,000. EverSource Wealth Advisors LLC grew its position in Gentex by 173.1% in 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. GAMMA Investing LLC increased its stake in Gentex by 26.3% during the first quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock worth $63,000 after purchasing an additional 363 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Gentex by 227.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock valued at $54,000 after purchasing an additional 1,269 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Trading Up 0.8 %

GNTX stock opened at $29.92 on Friday. The business has a 50 day simple moving average of $29.85 and a 200-day simple moving average of $32.43. The company has a market capitalization of $6.92 billion, a P/E ratio of 15.83, a PEG ratio of 0.95 and a beta of 0.92. Gentex Co. has a twelve month low of $27.86 and a twelve month high of $37.58.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, July 26th. The auto parts company reported $0.37 EPS 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 analysts’ expectations of $623.28 million. Gentex had a net margin of 17.87% and a return on equity of 17.78%. Research analysts predict that Gentex Co. will post 1.96 EPS for the current fiscal year.

Gentex Dividend Announcement

The company also recently disclosed 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 yield of 1.60%. Gentex’s dividend payout ratio (DPR) is 25.40%.

Insider Buying and Selling at Gentex

In other news, major shareholder Corp Gentex purchased 3,152,500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the purchase, the insider now directly owns 6,463,808 shares in the company, valued at $32,319,040. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GNTX shares. The Goldman Sachs Group decreased their price target on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. B. Riley lowered their price objective on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Monday, July 29th. StockNews.com cut shares of Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Bank of America dropped their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Finally, Robert W. Baird decreased their price objective on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Gentex currently has an average rating of “Hold” and an average target price of $36.13.

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.