Kevin Nash Sells 11,885 Shares of Gentex (NASDAQ:GNTX) Stock

Gentex Corporation (NASDAQ:GNTX) CFO Kevin Nash sold 11,885 shares of Gentex stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $24.98, for a total transaction of $296,887.30. Following the sale, the chief financial officer 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Gentex Price Performance

GNTX stock traded down $0.57 during mid-day trading on Thursday, reaching $23.97. The company had a trading volume of 1,888,424 shares, compared to its average volume of 2,609,861. The company has a market capitalization of $5.25 billion, a PE ratio of 13.78 and a beta of 0.78. The firm has a 50 day moving average of $23.91 and a 200 day moving average of $25.20. Gentex Corporation has a 12 month low of $20.28 and a 12 month high of $29.38.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, January 30th. The auto parts company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. The firm had revenue of $644.40 million during 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 company’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 earnings per share. 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 was paid on Wednesday, January 21st. Shareholders 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 was Wednesday, January 7th. Gentex’s dividend payout ratio is currently 27.59%.

Hedge Funds Weigh In On Gentex

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Addison Advisors LLC bought a new position in Gentex in the second quarter worth about $25,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Gentex in the 3rd quarter worth approximately $38,000. Clearstead Advisors LLC raised its stake in shares of Gentex by 82.3% during 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 in the last quarter. CIBC Private Wealth Group LLC lifted its position in Gentex by 2,420.7% during the third quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock valued at $58,000 after acquiring an additional 1,985 shares during the last quarter. Finally, Arax Advisory Partners acquired a new stake in Gentex in the fourth quarter valued at approximately $52,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GNTX. The Goldman Sachs Group set a $27.00 price target on Gentex and gave the company a “neutral” rating in a research note on Monday, October 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a report on Thursday, January 22nd. Robert W. Baird set a $26.00 target price on shares of Gentex in a research report on Wednesday, January 14th. B. Riley Financial reduced their price target on shares of Gentex from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Finally, UBS Group set a $25.00 price objective on shares of Gentex in a research note on Monday, February 2nd. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Gentex currently has a consensus rating of “Hold” and an average target price of $26.71.

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).