Gentex Corporation $GNTX Shares Sold by Synovus Financial Corp

Synovus Financial Corp lessened its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 35.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 39,867 shares of the auto parts company’s stock after selling 21,527 shares during the quarter. Synovus Financial Corp’s holdings in Gentex were worth $1,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of GNTX. Addison Advisors LLC acquired a new position in Gentex during the second quarter worth about $25,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Gentex during the third quarter valued at about $38,000. Grey Fox Wealth Advisors LLC acquired a new stake in Gentex during the third quarter worth about $65,000. Steph & Co. lifted its position in Gentex by 30.5% during the third quarter. Steph & Co. now owns 2,684 shares of the auto parts company’s stock valued at $76,000 after buying an additional 627 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Gentex by 2,038.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,512 shares of the auto parts company’s stock valued at $99,000 after acquiring an additional 4,301 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Insider Buying and Selling

In other news, CFO Kevin C. Nash sold 11,885 shares of Gentex stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $24.98, for a total value of $296,887.30. Following the sale, the chief financial officer directly owned 59,430 shares in the company, valued at approximately $1,484,561.40. This trade represents 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. Also, CTO Neil Boehm sold 11,248 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $24.82, for a total value of $279,175.36. Following the transaction, the chief technology officer owned 58,951 shares of the company’s stock, valued at approximately $1,463,163.82. This represents a 16.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 58,133 shares of company stock worth $1,442,313 in the last ninety days. 0.45% of the stock is owned by insiders.

Gentex Price Performance

NASDAQ GNTX opened at $23.97 on Friday. The business has a 50 day simple moving average of $23.92 and a 200 day simple moving average of $25.17. The stock has a market capitalization of $5.25 billion, a P/E ratio of 13.78 and a beta of 0.78. Gentex Corporation has a one year low of $20.28 and a one year high of $29.38.

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

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Wednesday, January 7th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, January 7th. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. Gentex’s dividend payout ratio (DPR) is 27.59%.

Analysts Set New Price Targets

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

Gentex Company 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).