Sequoia Financial Advisors LLC Trims Holdings in Gentex Corporation $GNTX

Sequoia Financial Advisors LLC reduced its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 31.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,433 shares of the auto parts company’s stock after selling 25,783 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Gentex were worth $1,233,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GNTX. Wellington Management Group LLP increased its stake in Gentex by 10.3% in the 3rd quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company’s stock worth $419,636,000 after buying an additional 1,383,203 shares during the period. Bank of Montreal Can boosted its position in Gentex by 14,398.7% in the 4th quarter. Bank of Montreal Can now owns 7,726,057 shares of the auto parts company’s stock valued at $179,785,000 after buying an additional 7,672,769 shares during the period. State Street Corp grew its stake in Gentex by 1.0% in the 2nd quarter. State Street Corp now owns 7,439,333 shares of the auto parts company’s stock worth $163,591,000 after acquiring an additional 74,779 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Gentex by 25.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,629,380 shares of the auto parts company’s stock worth $154,271,000 after acquiring an additional 1,349,445 shares in the last quarter. Finally, Boston Partners increased its position in shares of Gentex by 2.1% during the third quarter. Boston Partners now owns 5,912,491 shares of the auto parts company’s stock worth $167,299,000 after acquiring an additional 123,731 shares during the period. 86.76% of the stock is currently owned by institutional investors.

Gentex Stock Up 2.6%

Gentex stock opened at $24.91 on Friday. The firm has a market cap of $5.30 billion, a P/E ratio of 13.99 and a beta of 0.78. The business has a fifty day moving average of $24.41 and a two-hundred day moving average of $23.51. Gentex Corporation has a twelve month low of $20.48 and a twelve month high of $29.38.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The business had revenue of $675.44 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business posted $0.42 EPS. Equities analysts expect that Gentex Corporation will post 1.97 earnings per share for the current year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, July 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.9%. Gentex’s payout ratio is currently 26.97%.

Insiders Place Their Bets

In other news, Director Brian C. Walker sold 5,939 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were 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 approximately $556,230.90. This trade represents a 19.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard O. Schaum sold 4,815 shares of Gentex stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $23.31, for a total transaction of $112,237.65. Following the completion of the transaction, the director directly owned 81,443 shares in the company, valued at approximately $1,898,436.33. The trade was a 5.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 16,693 shares of company stock worth $385,194. 0.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on GNTX shares. Weiss Ratings upgraded Gentex from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. UBS Group restated a “neutral” rating and set a $25.00 price objective (down from $26.00) on shares of Gentex in a report on Thursday, July 9th. B. Riley Financial reaffirmed a “buy” rating and set a $29.00 target price (up from $28.00) on shares of Gentex in a research report on Monday, April 27th. JPMorgan Chase & Co. upped their target price on Gentex from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, Robert W. Baird increased their price target on Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Gentex currently has a consensus rating of “Hold” and an average target price of $27.00.

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).