Gentex (NASDAQ:GNTX) CEO Steven Downing Sells 35,000 Shares

Gentex Corporation (NASDAQ:GNTX) CEO Steven Downing sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $24.75, for a total value of $866,250.00. Following the transaction, the chief executive officer owned 211,670 shares of the company’s stock, valued at $5,238,832.50. This trade represents a 14.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Gentex Stock Down 0.8%

Gentex stock traded down $0.20 during mid-day trading on Friday, hitting $23.77. 375,074 shares of the company were exchanged, compared to its average volume of 2,541,843. The company has a market capitalization of $5.20 billion, a PE ratio of 13.66 and a beta of 0.78. The business has a fifty day moving average of $23.91 and a 200 day moving average of $25.19. Gentex Corporation has a 1-year low of $20.28 and a 1-year high of $29.38.

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

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Wednesday, January 7th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, January 7th. Gentex’s payout ratio is presently 27.59%.

Analyst Upgrades and Downgrades

GNTX has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a research note on Thursday, January 22nd. B. Riley Financial cut their price target on Gentex from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Robert W. Baird set a $26.00 price target on shares of Gentex in a research report on Wednesday, January 14th. The Goldman Sachs Group set a $27.00 price objective on shares of Gentex and gave the stock a “neutral” rating in a report on Monday, October 27th. Finally, UBS Group set a $25.00 target price on shares of Gentex in a research note on Monday, February 2nd. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $26.71.

Hedge Funds Weigh In On Gentex

Large investors have recently bought and sold shares of the business. Clearstead Advisors LLC grew its holdings in Gentex by 21.4% during the 4th quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 437 shares during the period. Gagnon Securities LLC lifted its stake in shares of Gentex by 0.8% in the 4th quarter. Gagnon Securities LLC now owns 55,672 shares of the auto parts company’s stock valued at $1,295,000 after purchasing an additional 458 shares during the period. CWM LLC boosted its position in shares of Gentex by 5.1% in the 3rd quarter. CWM LLC now owns 9,648 shares of the auto parts company’s stock worth $273,000 after purchasing an additional 467 shares during the last quarter. Arizona State Retirement System increased its holdings in Gentex by 0.7% in the third quarter. Arizona State Retirement System now owns 66,519 shares of the auto parts company’s stock valued at $1,882,000 after purchasing an additional 487 shares during the last quarter. Finally, First Citizens Bank & Trust Co. lifted its stake in Gentex by 1.9% in the fourth quarter. First Citizens Bank & Trust Co. now owns 29,807 shares of the auto parts company’s stock valued at $694,000 after buying an additional 559 shares during the period. 86.76% of the stock is currently owned by institutional investors and hedge funds.

About Gentex

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).