First Pacific Advisors LP lessened its holdings in Gentex Co. (NASDAQ:GNTX) by 30.5% during the first quarter, HoldingsChannel reports. The firm owned 148,021 shares of the auto parts company’s stock after selling 64,814 shares during the period. First Pacific Advisors LP’s holdings in Gentex were worth $3,061,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bremer Trust National Association bought a new stake in shares of Gentex in the fourth quarter worth $25,000. Creative Financial Designs Inc. ADV bought a new stake in Gentex during the first quarter worth $27,000. Bremer Bank National Association bought a new stake in Gentex during the first quarter worth $29,000. Icon Wealth Partners LLC bought a new stake in Gentex during the first quarter worth $31,000. Finally, Lindbrook Capital LLC bought a new stake in Gentex during the fourth quarter worth $32,000. 82.60% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:GNTX opened at $23.51 on Monday. Gentex Co. has a one year low of $17.80 and a one year high of $25.33. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 2.38 and a beta of 1.15.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Wednesday, April 24th. The auto parts company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. Gentex had a net margin of 23.45% and a return on equity of 23.03%. The firm had revenue of $468.60 million for the quarter, compared to the consensus estimate of $463.79 million. During the same period in the previous year, the company earned $0.40 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. Equities research analysts predict that Gentex Co. will post 1.64 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th will be issued a $0.115 dividend. The ex-dividend date is Tuesday, July 9th. This represents a $0.46 annualized dividend and a dividend yield of 1.96%. Gentex’s dividend payout ratio is currently 28.40%.

In other Gentex news, Director Gary F. Goode sold 5,045 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $23.20, for a total value of $117,044.00. Following the transaction, the director now directly owns 21,045 shares in the company, valued at $488,244. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders acquired 2,009 shares of company stock worth $35,318. Corporate insiders own 0.37% of the company’s stock.

Several analysts have issued reports on the stock. BidaskClub raised shares of Gentex from a “sell” rating to a “hold” rating in a research report on Saturday, March 30th. ValuEngine raised shares of Gentex from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. BMO Capital Markets dropped their price target on shares of Gentex from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 2nd. Finally, Zacks Investment Research lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Gentex has a consensus rating of “Hold” and an average price target of $22.28.

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About Gentex

Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.

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Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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