Thrivent Financial for Lutherans Cuts Stock Holdings in Gentex Corporation $GNTX

Thrivent Financial for Lutherans decreased its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 30.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 102,523 shares of the auto parts company’s stock after selling 44,779 shares during the period. Thrivent Financial for Lutherans’ holdings in Gentex were worth $2,386,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Hudson Bay Capital Management LP purchased a new position in shares of Gentex during the third quarter valued at approximately $3,613,000. WINTON GROUP Ltd purchased a new position in shares of Gentex during the third quarter valued at approximately $7,258,000. Clark Capital Management Group Inc. purchased a new position in shares of Gentex during the third quarter valued at approximately $8,179,000. Elo Mutual Pension Insurance Co purchased a new position in shares of Gentex during the third quarter valued at approximately $726,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Gentex by 21.9% during the third quarter. JPMorgan Chase & Co. now owns 6,725,426 shares of the auto parts company’s stock valued at $190,330,000 after buying an additional 1,206,060 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GNTX. UBS Group set a $26.00 price objective on Gentex in a research report on Sunday, April 26th. Robert W. Baird boosted their price objective on Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Wall Street Zen raised Gentex from a “hold” rating to a “buy” rating in a research report on Sunday, March 8th. JPMorgan Chase & Co. boosted their price objective on Gentex from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Freedom Capital raised Gentex to a “strong-buy” rating in a research report on Friday, March 27th. One 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.83.

Gentex Stock Performance

GNTX stock opened at $23.85 on Tuesday. The stock’s fifty day simple moving average is $22.37 and its two-hundred day simple moving average is $23.07. Gentex Corporation has a 1-year low of $20.48 and a 1-year high of $29.38. The stock has a market cap of $5.08 billion, a P/E ratio of 13.40 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.04. The business had revenue of $675.44 million for the quarter, compared to analysts’ expectations of $649.42 million. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The business’s revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 earnings per share. As a group, analysts forecast that Gentex Corporation will post 1.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Gentex

In other Gentex news, Director Brian C. Walker sold 5,939 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. Following the sale, the director directly owned 24,205 shares in the company, valued at $556,230.90. The trade was a 19.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard O. Schaum sold 4,815 shares of the business’s stock in a transaction on 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 sale, the director owned 81,443 shares in the company, valued at approximately $1,898,436.33. The trade was a 5.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,693 shares of company stock worth $385,194 over the last ninety days. 0.55% of the stock is currently owned by company insiders.

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).