Gentex Co. (NASDAQ:GNTX) General Counsel Sells $58,690.50 in Stock


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Gentex Co. (NASDAQ:GNTX) General Counsel Scott P. Ryan sold 1,650 shares of the business’s stock in a transaction dated Monday, February 22nd. The shares were sold at an average price of $35.57, for a total value of $58,690.50. Following the completion of the transaction, the general counsel now directly owns 30,627 shares of the company’s stock, valued at approximately $1,089,402.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

GNTX traded up $0.01 during trading hours on Tuesday, reaching $35.68. The company’s stock had a trading volume of 64,261 shares, compared to its average volume of 1,736,995. Gentex Co. has a fifty-two week low of $19.48 and a fifty-two week high of $37.75. The stock has a market cap of $8.74 billion, a PE ratio of 29.02, a P/E/G ratio of 7.13 and a beta of 1.15. The business’s 50-day moving average is $35.40 and its 200-day moving average is $30.92.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Thursday, January 28th. The auto parts company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. Gentex had a return on equity of 16.59% and a net margin of 18.96%. The firm had revenue of $529.60 million for the quarter, compared to analysts’ expectations of $482.66 million. During the same period in the prior year, the firm posted $0.39 earnings per share. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Gentex Co. will post 1.36 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in GNTX. Amundi Pioneer Asset Management Inc. lifted its stake in Gentex by 1.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 149,220 shares of the auto parts company’s stock worth $3,086,000 after purchasing an additional 2,536 shares in the last quarter. NEXT Financial Group Inc acquired a new position in Gentex during the third quarter worth $194,000. Clear Harbor Asset Management LLC acquired a new position in Gentex during the third quarter worth $36,000. Xponance Inc. lifted its stake in Gentex by 16.9% during the third quarter. Xponance Inc. now owns 25,861 shares of the auto parts company’s stock worth $666,000 after purchasing an additional 3,733 shares in the last quarter. Finally, State of Michigan Retirement System increased its position in shares of Gentex by 0.4% during the third quarter. State of Michigan Retirement System now owns 89,496 shares of the auto parts company’s stock worth $2,305,000 after acquiring an additional 400 shares during the period. Institutional investors own 81.53% of the company’s stock.

Several brokerages have recently issued reports on GNTX. Bank of America decreased their price objective on Gentex from $15.00 to $13.00 and set an “underperform” rating for the company in a report on Tuesday, November 17th. Zacks Investment Research upgraded Gentex from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Wednesday, February 3rd. KeyCorp boosted their price objective on Gentex from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, January 25th. B. Riley boosted their price objective on Gentex from $38.75 to $40.00 and gave the stock a “buy” rating in a research note on Monday, February 1st. Finally, Seaport Global Securities initiated coverage on Gentex in a research note on Thursday, January 28th. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $30.67.

About Gentex

Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It operates through Automotive Products and Other segments. The company designs, develops, manufactures, and markets 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.

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