Gentex Co. (NASDAQ:GNTX) Shares Sold by Valley National Advisers Inc.

Valley National Advisers Inc. lessened its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 3.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 29,258 shares of the auto parts company’s stock after selling 1,180 shares during the quarter. Valley National Advisers Inc.’s holdings in Gentex were worth $1,056,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Gentex by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock valued at $727,688,000 after buying an additional 163,373 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Gentex by 27.9% in the fourth quarter. Wellington Management Group LLP now owns 8,728,378 shares of the auto parts company’s stock valued at $285,069,000 after buying an additional 1,905,356 shares during the period. Burgundy Asset Management Ltd. lifted its holdings in shares of Gentex by 8.5% in the fourth quarter. Burgundy Asset Management Ltd. now owns 4,169,029 shares of the auto parts company’s stock valued at $136,160,000 after buying an additional 325,687 shares during the period. TD Asset Management Inc lifted its holdings in shares of Gentex by 58.1% in the fourth quarter. TD Asset Management Inc now owns 3,313,757 shares of the auto parts company’s stock valued at $108,227,000 after buying an additional 1,217,278 shares during the period. Finally, Norges Bank acquired a new stake in shares of Gentex in the fourth quarter valued at $89,843,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Stock Down 0.1 %

Shares of Gentex stock opened at $33.77 on Thursday. The stock’s fifty day moving average is $34.32 and its 200-day moving average is $34.38. The firm has a market capitalization of $7.81 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 0.95 and a beta of 0.93. Gentex Co. has a 12-month low of $27.86 and a 12-month high of $37.58.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, April 26th. The auto parts company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). The business had revenue of $590.23 million for the quarter, compared to analyst estimates of $600.38 million. Gentex had a net margin of 18.77% and a return on equity of 19.19%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 earnings per share. Analysts expect that Gentex Co. will post 2.11 EPS for the current year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 17th. Investors of record on Friday, July 5th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Friday, July 5th. Gentex’s payout ratio is 25.40%.

Insider Activity at Gentex

In related news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $34.46, for a total transaction of $162,513.36. Following the transaction, the director now directly owns 3,764 shares of the company’s stock, valued at $129,707.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GNTX. Guggenheim upped their price objective on Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. StockNews.com raised Gentex from a “hold” rating to a “buy” rating in a research report on Sunday, June 16th. Finally, B. Riley boosted their target price on Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.83.

Gentex Profile

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers 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.