Voya Investment Management LLC Sells 74,073 Shares of Gentex Corporation $GNTX

Voya Investment Management LLC lessened its holdings in Gentex Corporation (NASDAQ:GNTX) by 28.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 186,038 shares of the auto parts company’s stock after selling 74,073 shares during the period. Voya Investment Management LLC owned about 0.08% of Gentex worth $5,265,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Addison Advisors LLC purchased a new stake in Gentex during the second quarter worth $25,000. State of Wyoming bought a new position in shares of Gentex in the 1st quarter worth $45,000. Steph & Co. purchased a new stake in shares of Gentex during the 2nd quarter worth $45,000. UMB Bank n.a. lifted its stake in shares of Gentex by 34.4% during the 2nd quarter. UMB Bank n.a. now owns 2,854 shares of the auto parts company’s stock worth $63,000 after purchasing an additional 730 shares during the last quarter. Finally, Bayforest Capital Ltd bought a new stake in Gentex during the second quarter valued at about $81,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Trading Down 0.3%

Shares of Gentex stock opened at $23.32 on Friday. The firm’s 50 day simple moving average is $23.51 and its two-hundred day simple moving average is $24.97. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 13.71 and a beta of 0.78. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $29.52.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, October 24th. The auto parts company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The company had revenue of $570.32 million for the quarter, compared to analysts’ expectations of $661.10 million. Gentex had a net margin of 15.61% and a return on equity of 15.86%. Gentex’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $0.53 earnings per share. On average, sell-side analysts predict that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Wednesday, January 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, January 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. Gentex’s dividend payout ratio is currently 28.24%.

Analyst Upgrades and Downgrades

GNTX has been the subject of a number of recent research reports. Robert W. Baird set a $29.00 target price on shares of Gentex in a report on Monday, October 27th. The Goldman Sachs Group set a $27.00 price objective on shares of Gentex and gave the stock a “neutral” rating in a research report on Monday, October 27th. UBS Group reiterated a “neutral” rating and set a $29.00 price objective (up previously from $28.00) on shares of Gentex in a research note on Monday, October 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Gentex from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $28.29.

Gentex 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).