Gentex Corporation $GNTX Shares Sold by Horizon Investments LLC

Horizon Investments LLC lowered its stake in Gentex Corporation (NASDAQ:GNTX) by 93.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,665 shares of the auto parts company’s stock after selling 81,813 shares during the quarter. Horizon Investments LLC’s holdings in Gentex were worth $131,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of GNTX. Royal Bank of Canada lifted its holdings in Gentex by 33.1% in the first quarter. Royal Bank of Canada now owns 189,561 shares of the auto parts company’s stock worth $4,418,000 after purchasing an additional 47,150 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Gentex by 1.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,321,634 shares of the auto parts company’s stock worth $30,794,000 after purchasing an additional 23,454 shares during the period. Empowered Funds LLC lifted its holdings in Gentex by 255.6% in the first quarter. Empowered Funds LLC now owns 81,142 shares of the auto parts company’s stock worth $1,891,000 after purchasing an additional 58,323 shares during the period. Invesco Ltd. lifted its holdings in Gentex by 8.0% in the second quarter. Invesco Ltd. now owns 813,163 shares of the auto parts company’s stock worth $17,881,000 after purchasing an additional 60,127 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings 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 worth $99,000 after purchasing an additional 4,301 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Wall Street Analyst Weigh In

GNTX has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gentex in a report on Thursday, January 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Gentex from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. UBS Group set a $26.00 price target on shares of Gentex in a research report on Sunday, April 26th. Wall Street Zen upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research report on Sunday, March 8th. Finally, Robert W. Baird boosted their price target on shares of Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.67.

Insiders Place Their Bets

In other news, CEO Steven R. Downing sold 35,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $24.75, for a total value of $866,250.00. Following the transaction, the chief executive officer owned 211,670 shares in the company, valued at $5,238,832.50. This represents a 14.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard O. Schaum sold 4,815 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $23.31, for a total value of $112,237.65. Following the completion of the transaction, the director owned 81,443 shares in the company, valued at $1,898,436.33. This represents a 5.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 62,948 shares of company stock worth $1,554,550 over the last quarter. Company insiders own 0.55% of the company’s stock.

Gentex Price Performance

Shares of NASDAQ:GNTX opened at $23.39 on Monday. The company’s fifty day moving average is $22.22 and its two-hundred day moving average is $23.18. Gentex Corporation has a 12-month low of $20.48 and a 12-month high of $29.38. The company has a market cap of $4.98 billion, a P/E ratio of 13.14 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The company had revenue of $675.44 million for the quarter, compared to the consensus estimate of $649.42 million. During the same period in the previous year, the business earned $0.42 EPS. The company’s revenue was up 17.1% on a year-over-year basis. Equities research analysts anticipate that Gentex Corporation will post 1.92 earnings per share for the current year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th were issued a $0.12 dividend. The ex-dividend date was Wednesday, April 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. Gentex’s dividend payout ratio is currently 26.97%.

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).