Gentex Corporation $GNTX Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP cut its stake in Gentex Corporation (NASDAQ:GNTX) by 63.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,871 shares of the auto parts company’s stock after selling 288,647 shares during the period. Quantbot Technologies LP owned 0.08% of Gentex worth $4,751,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in GNTX. Addison Advisors LLC bought a new stake in shares of Gentex during the second quarter valued at approximately $25,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Gentex during the 3rd quarter worth about $38,000. Clearstead Advisors LLC lifted its stake in shares of Gentex by 82.3% in the 3rd quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 922 shares during the period. Grey Fox Wealth Advisors LLC bought a new position in shares of Gentex in the third quarter valued at approximately $65,000. Finally, Steph & Co. increased its stake in shares of Gentex by 30.5% during the third quarter. Steph & Co. now owns 2,684 shares of the auto parts company’s stock valued at $76,000 after acquiring an additional 627 shares during the period. 86.76% of the stock is currently owned by institutional investors.

Gentex Stock Down 1.2%

Shares of NASDAQ:GNTX opened at $23.40 on Monday. Gentex Corporation has a twelve month low of $20.28 and a twelve month high of $29.38. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 13.45 and a beta of 0.76. The business has a 50 day moving average price of $23.91 and a 200 day moving average price of $25.04.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, January 30th. The auto parts company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $644.40 million for the quarter, compared to the consensus estimate of $650.90 million. Gentex had a net margin of 15.19% and a return on equity of 16.05%. The business’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.39 EPS. Analysts anticipate that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 8th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, April 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. Gentex’s dividend payout ratio (DPR) is 27.59%.

Insiders Place Their Bets

In other news, CFO Kevin C. Nash sold 11,885 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $24.98, for a total value of $296,887.30. Following the transaction, the chief financial officer directly owned 59,430 shares of the company’s stock, valued at $1,484,561.40. The trade was a 16.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven R. Downing sold 35,000 shares of Gentex stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $24.75, for a total value of $866,250.00. Following the completion of the transaction, the chief executive officer owned 211,670 shares of the company’s stock, valued at approximately $5,238,832.50. The trade was a 14.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 58,133 shares of company stock valued at $1,442,313. 0.45% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GNTX shares. Wall Street Zen cut shares of Gentex from a “buy” rating to a “hold” rating in a research note on Saturday. B. Riley Financial cut their price objective on Gentex from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a report on Thursday, January 22nd. UBS Group set a $25.00 price objective on Gentex in a report on Monday, February 2nd. Finally, Robert W. Baird set a $26.00 target price on Gentex in a report on Wednesday, January 14th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.71.

Gentex Company Profile

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).